The Major League Baseball offseason concluded with numerous significant player transactions, impacting team rosters and financial outlooks across the league. Key movements included the Chicago Cubs signing Alex Bregman, the Boston Red Sox acquiring Ranger Suárez, the New York Yankees signing Cody Bellinger, and the Toronto Blue Jays securing Dylan Cease. The Arizona Diamondbacks acquired Nolan Arenado via trade, while the New York Mets added Freddy Peralta. These activities, alongside other free agent signings and trades, shaped team strategies as the league also addressed a leadership transition within the MLB Players Association and looked toward upcoming labor negotiations.
The offseason saw a wave of high-profile signings and trades, significantly reshaping MLB's competitive landscape and financial dynamics ahead of the 2026 season.
Major Free Agent Signings
Alex Bregman to Chicago Cubs
The Chicago Cubs signed free agent third baseman Alex Bregman to a five-year, $175 million contract. This agreement includes a no-trade clause and no opt-out options. The deal represents the third-largest in Cubs history and features an average annual value (AAV) of $35 million, the highest in Cubs history and tied for 14th all-time in MLB.
The Red Sox reportedly offered Bregman five years and $165 million with significant deferred payments and no full no-trade clause, while the Cubs' offer included $70 million in deferred money and a full no-trade clause. Bregman's contract surpasses previous offers, including a six-year, $171.5 million offer from the Detroit Tigers and a four-year, $115 million offer from the Cubs last offseason. Bregman, 31, played 114 games for the Boston Red Sox in 2025, recording a .273/.360/.462 batting line with a 125 wRC+ and 3.5 fWAR, earning an All-Star nomination. He had a 156 wRC+ before a right quad strain and rejected a qualifying offer from the Astros in 2024. The acquisition positions the Cubs' projected 2026 payroll at $231 million and a competitive balance tax (CBT) payroll at $247.6 million, placing them above the first luxury tax threshold.
Ranger Suárez to Boston Red Sox
The Boston Red Sox signed left-handed pitcher Ranger Suárez to a five-year, $130 million contract, reportedly without deferrals, opt-outs, or no-trade protection. Suárez, a left-handed pitcher, became a full-time starter in 2022, logging 588 1/3 innings with a 3.59 ERA over four years, including a 1.48 ERA in 42 2/3 postseason innings. His fastball velocity declined from over 93 mph in 2022-23 to 91.3 mph in 2025, and he has a history of lower back issues.
The Red Sox's estimated 2026 payroll is $216 million, with a CBT calculation of $266 million. As second-time CBT payors, the team faces higher tax rates. Due to Suárez rejecting a qualifying offer, the Red Sox will forfeit their second- and fifth-highest draft picks in 2026 and $1 million in international bonus pool space.
Cody Bellinger to New York Yankees
Cody Bellinger signed a five-year, $162.5 million deal with the New York Yankees. The contract includes opt-out clauses after the 2027 and 2028 seasons. Bellinger, 30, was reportedly seeking a seven-year deal.
Dylan Cease to Toronto Blue Jays
Dylan Cease signed a seven-year, $210 million contract with the Toronto Blue Jays, making it the offseason's richest pitcher deal and the fifth-largest contract for a pitcher overall. Cease's 2025 season included an 8–12 record, a 4.55 ERA, and 215 strikeouts in 168 innings. Since 2021, he ranks first in games started and seventh in innings pitched.
Kyle Tucker to Los Angeles Dodgers
The Los Angeles Dodgers signed Kyle Tucker to a four-year, $240 million contract for a corner outfield position. Tucker's $60 million average annual value is the second-largest in MLB history. He was previously reported to have received short-term offers up to $50 million annually from the New York Mets and a long-term offer from the Toronto Blue Jays.
Other Notable Signings
- Pete Alonso signed a five-year, $155 million deal with the Baltimore Orioles.
- Kyle Schwarber re-signed with the Philadelphia Phillies on a five-year, $150 million contract.
- Edwin Díaz signed a three-year, $69 million contract with the Los Angeles Dodgers, with his $23 million AAV being the largest for a reliever.
- Framber Valdez signed a three-year, $115 million contract with the Detroit Tigers.
- Japanese stars Kazuma Okamoto (Blue Jays, four years, $60 million), Tatsuya Imai (three years, $54 million), and Munetaka Murakami (White Sox, two years, $34 million) signed contracts, while Kona Takahashi returned to Japan without a deal.
- The New York Mets acquired Bo Bichette, Devin Williams, Jorge Polanco, and Luke Weaver for a total of $239 million.
Key Player Trades
Nolan Arenado to Arizona Diamondbacks
The St. Louis Cardinals traded third baseman Nolan Arenado to the Arizona Diamondbacks. As part of the deal, the Cardinals covered $31 million of Arenado's remaining $42 million over two years. The Diamondbacks sent minor-league right-hander Jack Martinez to the Cardinals. Arenado, 34, had experienced an offensive decline over the past three years.
Freddy Peralta to New York Mets
The New York Mets acquired right-handed pitcher Freddy Peralta and righty Tobias Myers from the Milwaukee Brewers in exchange for prospects Jett Williams and Brandon Sproat. Peralta finished fifth in NL Cy Young voting in 2025.
Edward Cabrera to Chicago Cubs
The Chicago Cubs acquired right-handed pitcher Edward Cabrera from the Miami Marlins in exchange for top prospect Owen Caissie. Cabrera, under team control through the 2028 season, recorded an 8–7 record with a 3.53 ERA and 150 strikeouts in 137 2/3 innings in 2025.
Other Notable Trades
- The New York Yankees acquired left-handed pitcher Ryan Weathers from the Miami Marlins in exchange for four lower-minors prospects.
- The Oakland Athletics acquired second baseman Jeff McNeil from the Mets.
- The Pittsburgh Pirates acquired second baseman Brandon Lowe in a three-team trade.
Team Offseason Overviews
Chicago Cubs
In addition to Bregman and Cabrera, the Cubs signed relievers Phil Maton ($14.5 million) and Hunter Harvey ($6 million), and retained Colin Rea and Shota Imanaga. The bullpen was rebuilt with signings including Caleb Thielbar, Hoby Milner, and Jacob Webb.
Boston Red Sox
Following the Suárez signing, the Red Sox's rotation includes Garrett Crochet, Sonny Gray, and Johan Oviedo. Chief baseball officer Craig Breslow aimed to bolster the rotation. The Red Sox had previously focused on infielders, with targets including Bregman, Ketel Marte, and Isaac Paredes. The team's longest free agent deal under Breslow is the Suárez contract. Potential trade targets for infield upgrades include Brendan Donovan, Nico Hoerner, Alec Bohm, Bryson Stott, or Jake Cronenworth. The Red Sox are also considering free agent Eugenio Suárez and have discussed acquiring Freddy Peralta.
New York Mets
The Mets acquired Marcus Semien and Luis Robert Jr. via trade, and signed Bo Bichette, Devin Williams, Jorge Polanco, and Luke Weaver. The team's defense was identified as a weakness in the prior season.
Los Angeles Dodgers
The Dodgers spent $326.7 million in free agency, primarily on Kyle Tucker and Edwin Díaz.
Toronto Blue Jays
The Blue Jays led MLB in free agent spending with $336 million, including Cease, Japanese third baseman Kazuma Okamoto (four years, $60 million), Tyler Rogers ($36 million), and Cody Ponce ($30 million).
San Diego Padres
The Padres re-signed Michael King to a three-year, $75 million deal and added Korean infielder Sung-Mun Song and Miguel Andújar. The franchise is reportedly for sale, which may have influenced offseason activity.
Milwaukee Brewers
The Brewers traded Freddy Peralta to the Mets and acquired Kyle Harrison and David Hamilton from the Red Sox for prospects. They spent $5.25 million on major league free agents, the lowest in the league.
Atlanta Braves
Right-handed pitchers Spencer Schwellenbach and Hurston Waldrep underwent surgery to remove loose bodies from their right elbows, sidelining them indefinitely. Schwellenbach is on the 60-day injured list. The Braves' rotation includes Chris Sale, Spencer Strider, Reynaldo Lopez, and Grant Holmes. The organization has indicated that interest in acquiring additional pitching assistance from outside the organization may have been overstated.
New York Yankees
In addition to Bellinger and Weathers, the Yankees extended a qualifying offer to Trent Grisham, which he accepted, and re-signed Paul Goldschmidt and Amed Rosario.
MLB Trade Market and Candidates
Several players were identified as potential trade candidates before Opening Day:
- Tarik Skubal (LHP, Detroit Tigers): In his final season before free agency, with a significant financial disagreement reported between his representation and the Tigers. Skubal won AL Cy Young in 2024 and 2025.
- Jarren Duran (OF, Boston Red Sox): Under team control through 2028. The Red Sox are reportedly open to offers for an infielder or pitcher.
- Ketel Marte (2B, Arizona Diamondbacks): Rumors of a trade cooled after the Diamondbacks reportedly removed him from the market, but interest persists. He is under contract through 2030.
- Brendan Donovan (INF/OF, St. Louis Cardinals): Offers positional versatility and a .361 career on-base percentage. The Cardinals are open to trading him for a suitable return.
- Sandy Alcantara (RHP, Miami Marlins): Signed through 2026 with a club option for 2027. He struggled in 2025 following Tommy John surgery in October 2023.
- CJ Abrams (SS, Washington Nationals): An All-Star in 2024, his trade value is considered high due to his speed/power combination and age.
- Luis Severino (RHP, Athletics): Signed a two-year, $45 million contract last offseason. He holds a player option for 2027.
MLBPA Leadership and Labor Relations
MLBPA chief Tony Clark resigned following reports of an inappropriate relationship with his sister-in-law. Deputy director Bruce Meyer is considered a probable candidate for interim director. This leadership transition occurs less than a year before the current collective bargaining agreement (CBA) expires on December 1, 2026.
Concerns have been raised that the significant spending by large-market franchises this offseason could highlight financial disparities and contribute to a labor dispute when the CBA expires, with owners expected to advocate for a salary cap and players anticipated to oppose it.
2026 Season Outlook and Predictions
MLB experts provided predictions for the 2026 season:
Division Winners (AL/NL)
- AL East: Saw three different teams nominated.
- AL Central: Detroit Tigers favored.
- AL West: Seattle Mariners were a unanimous selection.
- NL East: Split evenly between New York Mets and Philadelphia Phillies.
- NL Central: Split between Milwaukee Brewers and Chicago Cubs.
- NL West: Los Angeles Dodgers were a unanimous pick.
World Series
- Half of experts predicted the Seattle Mariners to reach the World Series.
- Half projected the Dodgers for the NL pennant.
MVP Candidates
- Shohei Ohtani, Aaron Judge, Bobby Witt Jr., and Juan Soto were leading candidates.
Cy Young Award
- Tarik Skubal and Paul Skenes each received four votes.
Rookie of the Year
- Kevin McGonigle and Nolan McLean were leading contenders.
Home Run Champion
- Shohei Ohtani, Aaron Judge, Kyle Schwarber, and Pete Alonso were picked as potential leaders.
Potential Disappointments
- Concerns about injuries led to mentions of Corbin Carroll and Spencer Strider.
Veterans Still Performing
- Nolan Arenado and Max Scherzer were highlighted.
Playoff Surprises
- Opinions were split on the Atlanta Braves and San Diego Padres.