Another day of MLB's 2025 Winter Meetings is in the books. Tuesday saw two major free agent deals go down -- Kyle Schwarber re-signed with the Phillies, and Edwin Díaz agreed to a deal with the reigning champion Dodgers -- but baseball's hot stove is yet to reach a boiling point.
Nearly all the top free agents, like Kyle Tucker, Alex Bregman, Framber Valdez and Bo Bichette, remain on the market. And the Winter Meetings in Orlando have yet to yield a substantial trade. Tarik Skubal of the Tigers, Ketel Marte of the Diamondbacks and MacKenzie Gore of the Nationals continue to have their names floated in rumors. Here are our top 50 free agents and our top 25 trade candidates.
News of the Schwarber and Díaz deals broke in a matter of minutes on Tuesday morning. Schwarber is back with the Phillies on a five-year, $150 million deal that will run through his age-37 season. Schwarber blasted 56 homers for the Phils in 2025 and finished second in NL MVP voting.
Díaz, meanwhile, is bolting from the NL East. The closer is leaving the Mets and joining the Dodgers on a three-year deal worth $69 million.
Tuesday also featured this year's Draft Lottery, which saw the Chicago White Sox win the No. 1 pick for 2026. UCLA shortstop Roch Cholowsky is considered the early favorite to go first overall.
You can catch up on all of Tuesday's action, including the biggest Winter Meetings rumors of the day, below.
The Tigers and righty reliever Kyle Finnegan are in agreement on a two-year, $19 million contract, Robert Murray of FanSided reports. Finnegan, 34, was excellent for the Tigers last season after they acquired him from the Nationals at the trade deadline. Finnegan was an All-Star in 2024, and for his career he has an ERA+ of 116 and an FIP of 4.05 over parts of six MLB seasons.
The Dodgers are the back-to-back World Series champs, and outfielder Kyle Tucker is the top free agent available. The Dodgers could also use a corner-outfield upgrade. It's a fit, in other words. Indeed, the Dodgers remain interested in Tucker, reports Katie Woo of the Athletic, but they're more likely to offer three to four years with a higher AAV than go six or seven years. That may be light for a player the caliber of Tucker, who has a WAR of 27.3 through his age-28 season, but the Dodgers are of course a highly appealing organization right now.
The Red Sox and Blue Jays are the team most often mentioned in reported trade talks with the Diamondbacks regarding All-Star infielder Ketel Marte. Now, though, you can add the Mariners and perhaps the Phillies and Rays to the list of possibilities, according to Jon Heyman of the New York Post. Arizona will likely ask for a healthy return of pitching in any potential Marte trade.
The Cardinals are listening to offers for super-utility player Brendan Donovan, and it's entirely possible he'll be dealt this winter. Speaking of which, the Giants, Mariners, and Royals have all been active in such discussions, Derrick Goold of the St. Louis Post-Dispatch reports. For the most part, the Cardinals and new lead exec Chaim Bloom will be targeting young pitching in any such deal.
Donovan, who's going into his age-29 season in 2026, is coming off his first career All-Star selection this past season. His best position is second base, and he can also man first, third, and left, and cover shortstop in limited doses. At the plate, Donovan put up an OPS+ of 119 this past season, and that figure is right in line with his career mark of 117 across parts of four MLB campaigns. He probably would've wound up with even better numbers in 2025, but he tried to play through a sprained capsule in the joint of his left big toe, which compromised his base and swing mechanics at the plate. Donovan's not eligible for free agency until after the 2027 season.
The Pirates have agreed to terms with veteran left-handed reliever Gregory Soto on a one-year contract worth $7.75 million, ESPN's Jorge Castillo reports. Soto, 30, put up an ERA of 4.18 in 60 ⅓ combined innings for the Orioles and Mets last season. He struck out 70 batters over that span. A two-time All-Star, Soto registered a career-best 30 saves for the Tigers in 2022. For his career, he has an ERA+ of 100 across parts of seven MLB seasons.
The Red Sox are looking to deal for an infielder, which suggests they may not be confident about their chances of bringing back free agent Alex Bregman. Their interest in Ketel Marte of the Diamondbacks is well known, and now Tim Healey of the Boston Globe adds that the Sox have also had trade discussions about three other infielders: Corey Seager of the Rangers, Isaac Paredes of the Astros, and Brendan Donovan of the Cardinals.
Will the Marlins trade from their impressive rotation depth? That's been a pressing question for almost a year now, and it's still pertinent. Speaking of which, the Marlins are engaged in trade talks regarding 27-year-old right-hander Edward Cabrera, and the Orioles are among the interested parties, the Athletic reports.
Cabrera is coming off a 2025 season in which he put up an ERA+ of 125 and an FIP of 3.83 in 137 ⅔ innings. That's his best full season in the majors to date. Cabrera also comes with multiple years of control, as he's not eligible for free agency until after the 2028 season. As for the Orioles, they're looking for rotation help to complement their strong core of position players.
In an effort to boost their offense, the Royals are willing to trade from their rotation, reports MLB.com. Ace lefty Cole Ragans is off-limits and veteran righties Seth Lugo and Michael Wacha are unlikely to move, though Kansas City is getting calls about youngsters Noah Cameron, Ryan Berget, and Stephen Kolek. Cameron finished fourth in the Rookie of the Year voting this past season. Berget and Kolek came over from the Padres in the Freddy Fermin trade at the deadline. All are viable back-end starters, potentially more in Cameron's case. Trading pitching depth is always dicey, but the Royals badly need another bat or two.
The Diamondbacks may be looking to move standout infielder Ketel Marte in order to address their pitching needs, and the Red Sox and Blue Jays are reported to be among those teams with serious interest. The Red Sox may have the edge thanks to their superior pitching depth, Jon Morosi of MLB Network reports. Any trade for Marte would presumably signal that free agent Alex Bregman won't be returning to Boston.
The Padres remain in contending mode, but lead decision-maker A.J. Preller is a bit hamstrung by payroll constraints from the post-Peter Seidler ownership group in San Diego and, when it comes to making win-now trades, a hollowed-out farm system. Even so, the ever-bold Preller may be shooting big right now. Here's this from Kevin Acee of the San Diego Union-Tribune:
"Two sources familiar with the Padres' discussions said Preller is shooting big.
"One source said the Padres are working multiple fronts that could result in deals that rival the massive trade in which they acquired four major leaguers in exchange for Juan Soto and Trent Grisham at the winter meetings two years ago. Another source said Preller's plans coming to fruition would make the deals he made at the past two trade deadlines pale in comparison.
"The sources, who were not authorized to speak publicly, provided no further details."
Does this mean the Padres are looking to deal away some of their big contracts while navigating no-trade clauses? Or are they looking to finagle another major win-now move despite those aforementioned limitations? Fernando Tatis Jr. has been the subject of recent trade speculation, but multiple recent reports have it that the Padres are committed to keeping the face of the franchise. Could Jackson Merrill be potentially involved in whatever's cooking? That's what MLB.com's Mark Feinsand speculates. Right now, though, the unknowns outweigh the knowns when it comes to Preller's plans.
The Red Sox have already met with Pete Alonso via Zoom and are trying to schedule an in-person chat, reports MassLive.com. The Winter Meetings are in Orlando and Alonso lives nearby in Tampa, so if the two sides do decide to meet in person, it could come together quickly. The BoSox need a righty bat to balance their lefty heavy lineup and they also need someone who can hit home runs after ranking 15th in homers in 2025. Alonso would check both boxes.
Steven Matz's two-year free agent contract with the Rays will pay him $7.5 million per, reports the Athletic.
The Orioles offered Kyle Schwarber the same five-year, $150 million contract he took to return to the Phillies, reports The Athletic. They're said to have interest in Pete Alonso and Kyle Tucker, as well as lefty Framber Valdez, who POBO Mike Elias knows well from their time with the Astros. The O's have demonstrated a willingness to spend significantly money this offseason, though until they actually sign someone, Elias' appetite for big money long-term deals will remain in question.
The Angels have acquired infielder Vaughn Grissom in a trade with the Red Sox, the team announced Tuesday. Boston received minor-league outfielder Isaiah Jackson in the deal. Grissom was the player the BoSox received from the Braves in the Chris Sale trade two offseasons ago. He dealt with injuries the last two years and did not play in the big leagues at all in 2025, instead posting a .783 OPS in 96 Triple-A games.
Grissom, 25 next month, is out of options, meaning he must pass through waivers to go to the minors. That limits roster flexibility, as done his lack of a defined position. He's played primarily second base and shortstop in his career, though he also has experience at the four corner spots. The Angels are rolling the dice on the upside Grissom's showed in 2023 with Atlanta, and could use him as a utility guy who moves around.
It's worth nothing Angels GM Perry Minasian was in the Braves' front office when Grissom was a prospect there.
Jackson, 21, was the Angels' eighth-round pick in the 2025 draft. MLB Pipeline ranked him as the club's No. 25 prospect prior to the trade.
The Tigers are among the teams with interest in free agent infielder Ha-Seong Kim, according to the Detroit Free Press. Detroit has been connected to Alex Bregman again this offseason and Kim would represent a more economical option with the same skills (righty bat with plus defense), though obviously Bregman is the superior player.
Kim, 30, slashed .234/.304/.345 in 48 games with the Rays and Braves this past season after returning from offseason shoulder surgery. He can still really pick it at shortstop, a position of weakness for the Tigers even with Javier Báez's mini-resurgence in 2025. The shortstop-needy Braves are also rumored to have interest in a reunion with Kim.
The Pirates, fresh off a failed pursuit of Kyle Schwarber, are expected to make an offer to free-agent infielder Jorge Polanco, per MLB.com. Polanco enjoyed a rebound season with the Mariners, culminating in an eventful playoff run. Seattle is also believed to have interest in retaining him.
Polanco is expected to sign before the week is out.
As previously noted in this live blog, the Red Sox are casting a wide net on the infield -- even as they hope to retain free agent Alex Bregman. Their contingency plans have included, among other points, talking to the camp of free-agent third baseman Eugenio Suárez, per the Boston Globe. Suárez is coming off a 49-homer season, but his advanced age and bat-to-ball skills make it more likely than not he'll have to settle for a shorter contract.
In addition to a bat, the Blue Jays are working to upgrade their bullpen, manager John Schneider said at his Winter Meetings media availability Tuesday. Toronto was said to be in the mix for Edwin Díaz and Devin Williams before they signed with the Dodgers and Mets, respectively, and they reportedly have interest in Robert Suarez, now the top unsigned free agent reliever.
The Blue Jays currently have Jeff Hoffman and Louie Varland locked into late-inning roles, plus Yimi García as long as things go well with his recovery from this year's elbow injury. Braydon Fisher and Brendon Little did enough to earn spots in the 2026 bullpen in 2025, though there's room for improvement here. Toronto has already signed Dylan Cease and Cody Ponce, and they remain in the mix for Bo Bichette. Clearly, they're intent on having a big offseason after losing the World Series.
The Mets lost one of their notable free agents earlier today, when closer Edwin Díaz joined the Dodgers. Might first baseman Pete Alonso be next?
If so, it could be because the Mets are unwilling to give Alonso the length of contact he seeks. Indeed, the Mets are said to be hesitant to go beyond three years with Alonso, per MLB.com.
Alonso is drawing interest from other teams, including the Orioles and Red Sox, and is expected to meet with those clubs today at the Winter Meetings.
Besides Kyle Schwarber and the Phillies, that is. I'll start with Pete Alonso, free agency's other top home run hitter, who is said to be drawing interest from some of the same teams that were in on Schwarber. That includes the Mets and Red Sox, and possibly even the Phillies. There was a very small chance Alonso and Schwarber would trade places this offseason, with Alonso going to the Phillies and Schwarber going to the Mets. That chance may have only been 1%, but 1% is not 0%. Alas and alack, it won't happen.
Alex Bregman, perhaps the offseason's most well-rounded free agent position player, also figures to benefit, because, again, there was said to be overlap between his market and Schwarber's (Mets, Red Sox, etc.). Now that those clubs know Schwarber is off the table and they'll have to spend their free-agent dollars elsewhere, Bregman's market will pick up. Basically, Schwarber is the first big domino to fall. Expect things to pick up with Alonso, Bregman, Bo Bichette, Kyle Tucker, and the other top free-agent hitters.
The Phillies may have scratched the top item off their to-do list, but they still have plenty of other business to conduct over the coming days.
Foremost, they have to figure out if a reunion with catcher J.T. Realmuto is possible. Realmuto had a career-worst showing at the plate last season, but it's tough to find catching and he's familiar with the Phillies staff. Both sides have publicly indicated they'd be interested in sticking together.
Additionally, the Phillies have acknowledged they're looking to trade outfielder Nick Castellanos. He too had a career-worst season in 2025. To make matters worse, he criticized manager Rob Thomson through the press late in the year, raising eyebrows in the process.
That's without taking into account how the Phillies work top prospects Justin Crawford and Aidan Miller onto the roster. Might they move incumbent third baseman Alec Bohm? Some of the other front offices I've talked to believe that's a possibility, even if it hasn't yet become a reality.
The Phillies have announced an extension with manager Rob Thomson through the 2027 season. He was previously under contract through 2026, making this a one-year extension.
Thomson, Philadelphia's manager since June 2022, has won 58% of his regular season games. He's guided the Phillies to the playoffs in each of the past four years. That includes their pennant-winning run in 2022.
Teams are calling the Mets about lefty starter David Peterson, reports The Athletic. New York is actively listening to offers for their starters, particularly Kodai Senga, while also exploring the market for top of the rotation upgrades.
Peterson, 31, is one year away from free agency. He made 30 start and threw 168 ⅔ innings with a 4.22 ERA in 2025, though, like the Mets themselves, Peterson collapsed late. He had a 3.06 ERA in 18 starts before the All-Star break and 6.34 ERA in 12 starts after the All-Star break. Still, more than a few teams figure to believe they can get Peterson to pitch more consistently like the guy he was in the first half this past season (and in 2024), and are willing to roll the dice.
The two-time World Series champions are adding one of the game's best closers. The Dodgers and Edwin Díaz have agreed to a three-year, $69 million contract, according to ESPN.
Los Angeles had closer problems all season in 2025, with Tanner Scott, last year's big free-agent pickup, struggling with home runs. The club leaned on Roki Sasaki in the ninth inning in the postseason, and, when push came to shove in Game 7 of the World Series, Yoshinobu Yamamoto was on the mound to finish things off. Díaz gives the Dodgers a steadier hand in the ninth inning.
The Mets, Díaz's former team, signed Devin Williams to a three-year deal worth $51 million earlier this offseason. He'll presumably take over the reins in the ninth inning.
The first major free agent hitter domino has fallen. Kyle Schwarber and the Phillies are finalizing a five-year contract worth $150 million, CBS Sports has confirmed. The 56-homer man will return to Philadelphia and continue to anchor the lineup alongside Bryce Harper.
Schwarber, 33 in March, led baseball with 132 RBI in 2025 and finished second to Shohei Ohtani in the NL MVP race. He's averaged 47 home runs during his four seasons with the Phillies, and, since 2021, only Aaron Judge (249) and Ohtani (233) have more homers than Schwarber (219).
The Mets, Orioles, Pirates, and Red Sox were among the other teams reportedly in the mix for Schwarber.
The Braves are reluctant to sign a free agent this winter who requires draft-pick compensation, according to the New York Post.
The Braves would have to sacrifice their second highest selection in order to sign someone like Edwin Díaz. That's not something the Braves are likely to do after gaining an additional top-30 selection as part of catcher Drake Baldwin's Rookie of the Year victory.
Rather, the Braves are more likely to shift their focus down the market in their hunt for pitching help -- perhaps to someone like former Padres reliever Robert Suarez.
The Dodgers and Blue Jays have joined the Mets in the chase for star closer Edwin Díaz, per the New York Post.
The Dodgers could use a late-inning lift after Tanner Scott's down first year in Los Angeles. The Dodgers' bullpen happened to be their biggest flaw, though it didn't prevent them from becoming MLB's first repeat World Series champions in more than two decades. The Blue Jays, for their part, have been connected to several other relievers, including Pete Fairbanks and Robert Suarez, both of whom remain free agents.
The Mets have already added one key reliever this winter, signing former Yankee Devin Williams to a multi-year pact.
Veteran infielder Jorge Polanco is expected to sign during the Winter Meetings, per ESPN. Polanco is coming off a strong rebound season with the Mariners, including a good run during October. Seattle is among the clubs who have been connected to him this winter.
CBS Sports ranked Polanco as the 29th best free agent out there this winter, writing:
Polanco recovered from a down season by swinging harder and pulling the ball more frequently. That combination resulted in both the second-highest home run tally and slugging percentage of his career. He's lost a step over the years on account of aging and knee surgery, meaning he's a substandard defensive second baseman. Polanco is also unlikely to repeat this year's offensive output. Still, a team seeking above-average offense could do worse than him.
Free-agent infielder Bo Bichette recently had a Zoom call with the Red Sox, per Ari Alexander. The Red Sox are known to be casting a wide net for infielders, though their reported preference is to reunite with Alex Bregman.
The Astros are known to be pursuing starting pitching in any potential trades. That includes the possibility of moving outfielder Jake Meyers and, perhaps, third baseman Isaac Paredes, who was made redundant by last summer's Carlos Correa trade. (The Astros also have Jeremy Peña at shortstop; Jose Altuve at least some of the time at second base; and Christian Walker at first base, giving them a full infield.)
In turn, the Astros have several young arms on their radar. That group includes two Red Sox arms, in Payton Tolle and Connelly Early, and Pirates right-hander Mike Burrows, per The Athletic.
The Athletic adds that the Red Sox are still prioritizing retaining free agent Alex Bregman. Paredes, though, is viewed as a legitimate backup plan in the event Bregman signs elsewhere. (It's worth noting the Red Sox have already leveraged their supply of young pitching once this winter to obtain veteran right-hander Sonny Gray.)
The Astros, for their part, have publicly pushed back against the idea of trading Paredes.
