MLB's Slow and Steady Free Agency: What's Happening and Why

Free agency in Major League Baseball is moving at a different pace this year.

Spending Slowdown

• Last Year: Teams spent around $2.1 billion on free agents by this time.
• This Year: That number is only $1.4 billion.

However, this doesn't mean the market is slow. It's moving quickly in some areas and more deliberately in others.

Pitching is a Hot Commodity

• Top Five Free Agents: Still without teams.
• Signed Pitchers: Getting more money than expected.
• Dylan Cease: Signed for $210 million, $65 million over expectations.
• Pete Alonso and Kyle Schwarber: Also got big deals.

Teams with Money to Spend

• Boston Red Sox: Haven't signed anyone.
• New York Yankees: Only spent $5 million.
• Bottom 20 Teams: Spent less combined than the top team, the Toronto Blue Jays.

Top-of-the-Market Bats Still Unsigned

• Kyle Tucker: Clear jewel of the class.
• Alex Bregman and Cody Bellinger: Looking for long-term deals.
• Bo Bichette: In demand because of his age and résumé.

Starting Pitchers Market

• Top-Tier Pitchers: Still unsigned but about to warm up.
• Framber Valdez, Tatsuya Imai, Ranger Suarez, Michael King, Zac Gallen
• Interested Teams: Baltimore Orioles, New York Mets, Houston Astros, and others.

Mid-Tier Starting Pitching

• Market: Febrile (hot and cold).
• Available Pitchers: Chris Bassitt, Lucas Giolito, Nick Martinez, and others.
• Aggressive Teams: White Sox, Orioles, Angels, Nationals, Mets, Padres, Diamondbacks.

Japanese Free Agents

• Munetaka Murakami: Must sign with an MLB team by Monday.
• Concerns: Strikeout rate and defensive position.
• Tatsuya Imai: Top starting pitcher.
• Posting Window: Expires on January 2.

Non-Elite Bats Market

• Market: Cold.
• Back-End Bats: Often spill into January and even February before signing.

Trade Market

• Market: Tepid (lukewarm).
• Biggest Names Traded So Far: Brandon Nimmo and Marcus Semien.
• Gridlock: Corresponding requests in player return have persisted at levels that make acquiring teams uncomfortable.

Relief Pitching

• Market: Scorching but cooling fast.
• Signed Relievers: Edwin Diaz, Devin Williams, Robert Suarez, and others.
• Market Cooling: Many relievers have already signed.