The 2025–26 MLB offseason has hit mid-December with the kind of slow-burning drama front offices both dread and crave. Huge money has already reshaped the pitching market.
Still, a surprising number of frontline starters, middle-of-the-order bats, and marquee trade chips remain in play. Teams keep juggling budget, prospect capital, and long-term risk.
This winter looks like it’ll drag deep into January—and maybe beyond—before the biggest dominoes finally fall.
The Dylan Cease Deal Resets the Starting Pitching Market
The offseason’s defining contract so far belongs to Dylan Cease. His seven-year, $210 million deal with the Toronto Blue Jays set a new bar for frontline arms.
Cease didn’t just get paid; he basically reset what top-of-the-rotation pitching is worth in this market. Now, several elite starters are still on the board.
Their camps are, understandably, hunting for term and dollars that reflect Cease’s payday.
Top Free-Agent Starters Still Waiting for Their Deal
Framber Valdez headlines the unsigned starting pitching class. He’s a lefty with postseason pedigree and durability who fits atop almost any rotation.
Alongside him, Tatsuya Imai, the latest high-end arm out of Japan, and Ranger Suárez, a proven big-game performer, are still available. Both seem to prefer long-term commitments over short-term, high-AAV offers.
One name expected to come off the board soon is Michael King. Once a swingman, King has emerged as a coveted arm with interest from the Yankees and Red Sox.
His signing could help clarify the middle-tier pitching market. Maybe it’ll nudge hesitant clubs into action.
Position-Player Stars Holding Up the Market
The big bats remain unusually patient on the position-player side. Agents and teams keep watching one another closely.
The timing and structure of these deals will ripple across the league, influencing how aggressive clubs become on both free agents and trade targets.
Kyle Tucker, Cody Bellinger and the Cornerstone Bats
Kyle Tucker is arguably the premier position player still available. The left-handed slugger has already visited the Blue Jays, showing Toronto’s intent to keep pushing despite their massive investment in Cease.
Tucker’s ability to hit for power, get on base, and play an above-average corner outfield makes him a franchise anchor. Cody Bellinger, meanwhile, appears content to wait out Tucker’s decision.
Bellinger’s market is expected to crystallize once teams that miss out on Tucker pivot to the next-best alternative. His combination of power, defense, and positional versatility at first base and the outfield still plays extremely well, even if clubs are cautious about his year-to-year variance.
Elsewhere, Alex Bregman and Bo Bichette add star quality to the infield market. Both offer middle-of-the-order production from premium positions, giving teams searching for infield stability and offensive punch a pair of rare options—if they’re willing to meet the long-term price.
Relief Market Thins, but One Premium Arm Remains
Teams that like to build bullpens early got their work done at the outset of the offseason. Most of the top relievers have already signed.
Contenders want their late-inning plans settled before turning to bigger-ticket items.
Pete Fairbanks as the Last Big Relief Domino
One key name remains: Pete Fairbanks. The power right-hander brings late-inning experience and high-octane stuff.
He’s the best relief arm still on the board. Multiple clubs are in pursuit, and his decision will likely define the top end of the remaining bullpen market.
Trade Market: All-Stars, Aces, and Cost-Controlled Stars in Play
While free agency dominates the headlines, the trade market is every bit as compelling. Several franchises are weighing whether to cash in on premium, controllable talent now before salaries climb and leverage decreases.
Ketel Marte, Tarik Skubal and Other Blockbuster Chips
The centerpiece name among position players is Ketel Marte, an All-Star second baseman whose blend of contact, power, and defensive versatility would instantly transform any infield. His availability gives teams a high-end alternative to overpaying in free agency.
On the pitching side, the Tigers’ Tarik Skubal has generated heavy interest. He’s a burgeoning ace with strikeout stuff and years of team control, so Detroit can afford to wait for someone to meet a predictably steep asking price.
The Brewers are also central players in trade speculation, with Freddy Peralta and Trevor Megill drawing attention as rotation and bullpen upgrades. The Nationals’ MacKenzie Gore is a fascinating name—a still-developing lefty with upside who could anchor a rebuilding rotation or net a significant prospect haul.
Other names like C.J. Abrams and Luis Robert Jr. linger on the fringes of rumor mills. While neither is guaranteed to move, their presence in discussions underscores just how aggressive some clubs might be in reshaping their cores.
Japanese Stars on the Clock: Murakami and Okamoto
International talent remains a crucial layer of this offseason. Two Japanese sluggers, in particular, are racing against posting deadlines that will force decisions from both players and MLB clubs.
Posting Deadlines That Could Shift the Power Balance
Munetaka Murakami, a premier power bat, faces a posting window that closes on December 22. Any club seeking a middle-of-the-order threat from the left side will need to move quickly.
Kazuma Okamoto has a posting deadline of January 4. Front offices get a bit more time, but the market probably won’t fully settle until early in the new year.
These deadlines force teams to weigh whether to commit resources overseas or hold back for domestic free agents and trade possibilities. That tension is part of why the market remains so unsettled.
An Offseason Built to Last
Put it all together and, honestly, things are still pretty unsettled. This offseason is far from over.
Top starters and star hitters haven’t found homes yet. Elite relievers and high-impact trade targets are still floating around too.
Front offices seem braced for a long, unpredictable winter. It’s not hard to imagine the action stretching deep into January, maybe even February.
Clubs are walking a tightrope between patience and urgency. One signing or trade could easily set off a chain reaction of moves across the league.
Here is the source article for this story: Rumor mill roundup: Updates on every top free agent, trade candidate
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