MLB free agent and trade questions after the 2024 Winter Meetings

But as the dust settles, some important questions about hot stoves remain unanswered.

Here’s a breakdown of the offseason landscape emerging from the Winter Meetings, highlighting the key storylines to watch, notable free agents still on the market and prospects to trade.

While we’ve already seen some significant deals, there’s still plenty of talent on the free agent market: 15 players from MLB.com reporter Mark Feinsand’s Top 25 Free Agents rankings at the start of the offseason are still available.

That includes 2021 National League Cy Young Award winner Corbin Burnes, who stands alone in the elite class of free-agent starters (at least among those with MLB experience) after Blake Snell signed with the Dodgers and Fried signed with the Yankees changed.

Japanese phenom Roki Sasaki is also available after being signed by Nippon Professional Baseball’s Chiba Lotte Marines. However, he is not expected to select a team until the 2025 international amateur signing period begins on January 15. With International Amateur Signing Bonus Due to restrictions limiting the 23-year-old right-hander’s contract size, it wouldn’t be a surprise to see every MLB team pounce on him.

A complete list of available free agents and deals completed this offseason can be found here. Click here for an overview of each team’s transactions.

1. The trading market is drying up

With rumors surrounding a number of stars, the trade market could be just as interesting as the free agent landscape, if not more so.

Speaking of the Cubs and Yankees, they are reportedly discussing a trade that would send Cody Bellinger to the Bronx. However, MLB Network insider Jon Heyman points out that there is a gap in how much money each side should cover in a potential Bellinger transfer. Bellinger will make $27.5 million in 2025 and has a $25 million player option for 2026 ($5 million buyout).

As for the mound, there are several compelling starting players who have been the subject of increased trade discussions recently and could receive even more attention now that Crochet’s situation has been resolved.

Luis Castillo of the Mariners and Sonny Gray of the Cardinals are two other interesting trade candidates. Both pitchers have long-term contracts – Castillo’s contract will pay him around $72 million over the next three years and includes a $25 million vesting option for 2028, while Gray is owed $60 million over the next two seasons and a $25 million club has an option (a $5 million buyout) for 2027.

2. Where will Burnes sign?

With an extensive track record as a frontline starter, Burnes is arguably the biggest difference maker on the free agent market.

No matter where Burnes ends up, it will likely come with a hefty price tag. Multiple industry sources told Feinsand that they expect Burnes to sign for at least $245 million, which is equal to or greater than the guaranteed total received by the Nationals’ Stephen Strasburg at the 2019 Winter Meetings. Strasburg’s contract is still the third-largest signed by a pitcher in baseball history, behind Yoshinobu Yamamoto (12 years, $325 million) and Gerrit Cole (nine years, $324 million).

3. What will the “laser-focused” Yankees do next?

Landing Fried was a solid rebound for the Yankees after losing Soto to the Mets, but the defending American League champions still have a lot of work to do.

While there is still a need to strengthen the bullpen, addressing the offense should be the club’s top priority. Soto’s departure has left a crater-sized hole in the Yankees’ lineup, and the team also has several vacant infield spots.

The Yankees have been linked to a variety of options, both in free agency (Bregman, Walker, Alonso, Hernández, Santander) and on the trade market (Bellinger, Tucker, Arenado).

“We want to improve the team and we feel really good about it. I’m not there yet,” general manager Brian Cashman said Wednesday. “There was a lot of waiting until the winter meetings for the Soto decision. Now let’s carry on with what we always do. No retreat, no surrender. Just focus on the task at hand, which is finding the best players possible.”

4. Do the Mets have another big play (or two) in mind?

No matter what they do from here, the Mets will go down as one of the big winners of the offseason. The signing of Soto ensured that. New York also added Frankie Montas and Clay Holmes to its rotation, bringing its total to over $800 million in free agents.

The Mets have two glaring holes – one at first base and one in their rotation – and could turn to two familiar faces to fill them.

Meanwhile, SNY’s Andy Martino reported Monday that there is “increasing optimism” about the Mets’ chances of re-signing Manaea, who posted a 3.47 ERA with 184 strikeouts over 181 2/3 innings for the club in 2024 , before withdrawing from the final year of his contract.

5. The Sasaki competition is underway

Although he is not expected to make his decision until the 2025 international amateur signing period begins on January 15, Sasaki’s free agent process is already underway.

Teams from every major are lining up to deliver his best pitch to the 23-year-old, widely considered one of the most talented young pitchers in the world, with a fastball that reaches 100 miles per hour, a devastating splitter and an improving slider. The results were just as impressive as his performances, even with a slight decline in 2024. In four seasons with the Marines, he posted a 2.02 ERA with 524 strikeouts and 91 walks in 414 2/3 innings.

Unlike typical MLB free agents, money is not expected to be a deciding factor in the Sasaki sweepstakes. That’s because foreign-born players who are not at least 25 years old and have not played professionally for at least six seasons in a foreign league recognized by Major League Baseball are subject to international bonus pool money restrictions. Sasaki now falls into this category, as Shohei Ohtani did in 2017. Ohtani agreed to a $2.315 million signing bonus with the Angels in December.

Because of these limitations, Sasaki is expected to attract the attention of a wide range of suitors, some of whom would not normally be involved in bidding for a free agent of his caliber on the open market.

Sasaki must have signed a contract by January 23rd. Otherwise, he will return to Chiba Lotte for the 2025 season.

We’ve already covered everything the Yankees still need to do, but they’re far from the only team whose offseason work is incomplete.

The Red Sox and Blue Jays, who remain in the AL East, also had to pivot after missing out on Soto. Boston (Crochet, Aroldis Chapman) and Toronto (Andrés Giménez, Yimi García) have been busy, but they still need to do more to become serious contenders. The pressure on the Blue Jays to act is particularly intense as Vladimir Guerrero Jr. and Bo Bichette both enter their final year under club control and their once-vaunted rotation is beginning to show signs of decline.

The Orioles’ roster may be in better shape than the Red Sox and Blue Jays right now, but the additions of Tyler O’Neill and Gary Sánchez alone probably won’t be enough to push this team to the next level the last two years. The biggest question for the O’s remains unchanged since the start of the offseason: How will they replace Burnes in their starting rotation?

The Astros earned their eighth straight postseason berth last season, but their remarkable streak of seven consecutive appearances in the AL Championship Series ended with a loss to the surging Tigers in the AL Wild Card Series. With Bregman heading into free agency this offseason and Tucker and Valdez following next year, Houston faces significant uncertainty. Will the Astros make a bold move to shake things up?

Detroit’s surprising postseason run was a nice surprise for its fan base after nine seasons without a playoff berth, but the team must improve its flawed roster to build on that success. Let’s not forget that the Tigers were eight games under .500 (55-63) entering play on August 11 and finished the year well below average in runs scored per game.

Speaking of teams that struggled to score in 2024, the Mariners’ lackluster offense prevented them from reaching the postseason for the second straight year, despite once again boasting one of the best rotations in MLB. The M’s certainly tried to get their offense under control, but to little avail. Seattle needs to get it right to avoid missing out on a golden opportunity to have four impressive young prospects (Logan Gilbert, George Kirby, Bryce Miller and Bryan Woo) under the team’s control.

Over in the Netherlands, the other 14 teams are trying to catch up with the reigning World Series champion Dodgers, who are well positioned for a repeat. The senior circuit got even tougher after the Mets — the NLCS runner-up — signed Soto. However, the Phillies, Braves and Padres are all in solid shape heading into 2025. And despite losing Adames, the Brewers could still be considered favorites in a weak NL Central.

But while these six clubs probably have a good chance, the pressure is on three other teams who are stuck in midfield and trying to close the gap between themselves and the league’s elite. It’s the Cubs, Giants and D-Backs.

The D-Backs were the best of those clubs last year with 89 wins, but finished third in the NL West and could face the loss of three key players in free agency: Walker, Joc Pederson and Randal Grichuk. The Giants signed Adames to a seven-year, $182 million contract to fill their void at shortstop, but they could still be the fourth-best team in the division. The Cubs, on the other hand, have missed the postseason in four consecutive years and have accumulated 83 wins during that time. With Adames leaving Milwaukee and the Cardinals in a retooling period, the NL Central could be there, but the North Siders need a big hit to capitalize on it.