2025 MLB Offseason Contract Breakdowns

Michael Ginnitti
Michael Ginnitti, Managing Editor & NFL/MLB ExpertDecember 11, 2024
© USA TODAY Sports

Spotrac details the largest free agent signings and contract extensions across MLB throughout the 2025 offseason.


RELATED: MLB Free Agency Tracker

2B Thairo Estrada signed a 1 year, $3.25 million free agent contract in Colorado.

The 28-year-old earned $4.1M last season in San Francisco, but was outrighted and eventually released early this offseason. He’ll now see $2.75M in 2025, with a $750,000 buyout available on an undisclosed 2026 mutual option with the Rockies.

RP Yimi Garcia returned to Toronto on a 2 year, $15 million free agent contract.

The Blue Jays actually traded Garcia to Seattle at this past deadline, securing two minor leaguers in the process. The 34-year-old returns on his biggest contract to date, and projects to be vying for Toronto’s 9th inning role this spring.

SP Nathan Eovaldi returned to Texas on a 3 year, $75 million free agent contract

The 34-year-old declined a $20M player option last month to reenter the open market, but found his way back to the Rangers with a $75M guarantee under his belt. Eovaldi projects to sit atop the Texas rotation as of now, with Jacob deGrom, Jon Gray, & Tyler Mahle falling in behind him.

The $75M guarantee ensures that the former 11th round pick will have earned over $185M in his MLB career through 2027.

SP Max Fried joined the Yankees on an 8 year, $218 million free agent contract. 

The 30-year-old has had at least one injured list stint in every season since 2018, including a three week period last year due to forearm irritation. Injury is the major red flag here, but the ceiling still remains sky high, and the Yankees are putting all of their chips in on him, handing Friend the largest total value contract for a left-handed pitcher in MLB history. The contract also contains a full no trade clause throughout its duration.

Current Yankees Starting Rotation

Starting Pitcher 2025 Tax Salary
Gerrit Cole $36,000,000
Max Fried $27,250,000
Carlos Rodon $27,000,000
Luis Gil $800,000 (est.)
Marcus Stroman $18,500,000

OF Mike Tauchman signed a 1 year, $1.95 million contract with the White Sox.

Tauchman heads to the north side of the city after being non-tendered by the Cubs a few weeks back. The White Sox locked the 34-year-old into the same salary he earned in 2024, though he can increase that by $1M based on TBD incentives, and another $250,000 if he’s traded this season.

Full Mike Tauchman Contract

SP Alex Cobb joined the Tigers on a 1 year, $15 million free agent contract.

Cobb went through three separate stints on the injured list with San Francisco/Cleveland last season, so durability is certainly top of mind for the now 37-year-old. Cobb figures to slot into the middle of the Tigers starting rotation.

The contract can max out at $17M based on Cobb pitching 140, then 150 innings in the upcoming season.

Full Alex Cobb Contract

RP Jordan Romano signed a 1 year, $8.5 million free agent contract with the Phillies

The somewhat surprising non-tender out of Toronto quickly found work in Philly, where he currently slots in as the 9th inning reliever for 2025. The 31-year-old can add another $500,000 to this deal if he works through 60 innings this season.

 

Full Jordan Romano Contract

RP Blake Treinen returned to the Dodgers on a 2 year, $22 million contract.

Treinen returns to LA, where he played out 2024 on a $1M salary as he worked himself back to full health. The 36-year-old gave the Dodgers 50 appearances last season, performing well enough to garner the biggest contract of his career this winter.

OF Juan Soto signed an historic 15 year, $765 million free agent contract with the New York Mets.

Steve Cohen simply wasn’t going to lose this war, even as 3 other teams dipped their toes into the $700M+ pool. While full terms aren’t yet available, we do know that Soto will receive a record-breaking $75 million signing bonus, a full no trade clause, and the ability to opt-out of the contract after the 2029 season. However, the Mets can void that opt-out by adding $40M to the 10 remaining seasons of the contract ($4M per year).

Unlike many of the blockbuster contracts being signed around the league, none of Juan Soto’s $765 million contract contains deferred compensation, making him a $51M per year player at present day value.

OF Michael Conforto joined the Dodgers on a 1 year, $17 million free agent contract

Injuries continue to devalue Conforto’s overall resume, but the final numbers for 2024 in San Francisco were promising (27 doubles, 20 homers, 66 RBIs, 1.34 WAR). He projects as the Opening Day starting left fielder for LAD as of now, though a reunion with Teoscar Hernandez could very much change that.

An undisclosed portion of Conforto’s $8.5M salary is deferred, while the other half will be paid out to Conforto in the form of a signing bonus.

C Gary Sanchez signed a 1 year, $8.5 million free agent contract with Baltimore.

Sanchez spent twice as many 2024 games as a DH (46) than he did a C (28) while also plugging a hole at 1B every now and then for the Brewers last season. He’ll likely do the same for the Orioles in 2025, giving Adley Rutschman time out of his crouching stance as much as possible, primarily speaking.

OF Tyler O’Neill joined the Orioles on a 3 year, $49.5 million free agent contract

Despite 3 stints in the injured list, O’Neill had one of his best overall seasons to date with Boston in 2024, hitting the open market at a strong selling point. Baltimore bought in, bringing in O’Neill as a likely every day left fielder.

The deal includes $16.5 million in 2025, after which the 29-year-old can opt-out of the remaining 2 years, $33 million. If not, it’s a flat $16.5M each of 2026 & 2027 as well.

Full Tyler O’Neill Contract

SS Willy Adames signed an historic 7 year, $182 million free agent contract with the Giants.

It’s the largest total value contract in San Francisco Giants history, surpassing Buster Posey’s $167M deal by $15M. It’s also a $5M raise over Dansby Swanson’s recent free agent contract with the Cubs (7 years, $177M), a clear focal point for Adames’ final cost.

The 29-year-old will secure a $22M signing bonus this year, and a full no trade clause throughout the life of the contract. Salary-wise the deal comes with $10M each of the next two seasons, then $28M for each of the final five.

 

Adames previously declined a Qualifying Offer so the Giants will forfeit their 2nd and 5th-round draft selections in 2025.

Full Willy Adames Contract

C Danny Jansen signed a 1 year, $8.5M free agent contract with Tampa Bay.

The 29-year-old backstop will earn an $8M salary in 2025, with a $500,000 buyout available on a $12M club option for 2026.

For now, Jansen projects to be Tampa Bay’s opening day starting catcher, though it’s fair to assume that Ben Rortvedt, who saw action in 112 games for TB last year, will also factor into the position.

Full Danny Jansen Contract

P Clay Holmes joins the Mets on a 3 year, $38 million free agent contract.

The story here isn’t so much the money, but the role that Holmes will be serving in Queens. The 31-year-old has been signed as a back-end of the Mets starting rotation player, making the transition over from a 9th-inning reliever for much of the past three seasons with the Yankees.

Contractually, Holmes will see $13M in 2025, another $13M for 2026, then holds a $12M player option in 2027 (no buyout).

Full Clay Holmes Contract

SP Shane Bieber returns to Cleveland on a 2 year, $26 million free agent contract.

Bieber’s final season before free agency was lost to elbow surgery, and he’s not likely to return to the mound until mid-2025, but the Guardians remain confident that he can anchor this young rotation when the time is right.

The 29-year-old will earn $10M in 2025, then holds a $16M player option for 2026 that includes a $4M buyout. If Bieber returns to top-level form to finish off 2024, he’ll almost certainly opt-out and reenter the open market next winter.

Full Shane Bieber Contract

SP Luis Severino signed a 3 year, $67 million contract with the Athletics

The surprise of the winter, the Athletics handed out the single largest contract in their franchise’s history. Severino leaves the Mets for a $10M signing bonus, $20M salary in 2025, $25M salary in 2026, and a $22M player option in 2027 (no buyout). The 30-year-old can opt-out after 2 years, $55M, and there’s a one-time $500,000 trade assignment bonus attached the contract as well.

 

Severino previously declined a Qualifying Offer so the Athletics will forfeit their third-round draft selection in 2025.

Full Luis Severino Contract

RP Aroldis Chapman signed a 1 year, $10.75 million contract with the Boston Red Sox.

Chapman gave the Pirates 68 appearances in 2024, finishing 18 games, striking out 98 batters in 61+ innings. He now joins forces with 35-year-old Liam Hendriks in Boston, and could have even more opportunities to close out games in the 2025 season.

The $10.75M guaranteed takes Chapman over $176M earned in 16 MLB seasons.

Full Aroldis Chapman Contract

C Kyle Higashioka signed a 2 year $13.5 million contract with the Texas Rangers.

Texas added depth to their catching room, bringing over the 34-year-old Higashioka from San Diego. He’ll earn $5.75M in 2025, $6.75M in 2026, and at least a $1M buyout on a $7M mutual option for 2027. With starting catcher Jonah Heim slated for an arbitration salary north of $5M, the Rangers will likely enter 2025 with one of the more expensive catching payrolls.

Full Kyle Higashioka Contract

SP Blake Snell signed a 5 year, $182 million free agent contract with the Los Angeles Dodgers.

The deal includes a $52 million signing bonus and $66M of deferred compensation, lowering the CBT salary from $36.4M, down to $31.7M.

Snell will receive $65M in 2025 (more than double the $32M he earned from his 1 season in San Francisco last year), then $13M in each of 2026-2029. There’s a $10M conditional club option in place for 2030, but that only remains if Snell hasn’t been traded/claimed away from the Dodgers AND if Snell has a 90+ day stint on the injured list for an undisclosed specific injury (likely arm related).

The deferred money kicks in in 2035, paying out Snell $5.5M each year through 2046 (when he’ll be 53 years old).

The $182M total value contract ranks 4th among active starting pitchers, 9th all-time in that regard. Snell’s original $36.4M APY ranks 3rd, behind only Zack Wheeler ($42M), & Jacob deGrom ($37M).

At the time of this piece, the Dodgers current starting rotation now looks like:

Starting Pitcher 2025 Tax Salary
Blake Snell $31,735,498
Yoshinobu Yamamoto $27,083,333
Tyler Glasnow $27,312,500
Shohei Ohtani $46,081,476
Tony Gonsolin $5,400,000

UTL Tommy Edman signed a 5 year, $74 million extension with the Los Angeles Dodgers

The NLCS MVP was already under contract at $9.5 million for 2025, so this is technically a 4 year, $64.5 million new money contract. Edman will now see $22 million in 2025 thanks to a $17 million signing bonus & $5 million salary. From there, salaries increase to $12.25 million through 2029, and there’s a $13 million club option available in 2030 ($3 million buyout).

However, the Dodgers have deferred $25 million of salary ($6.25 million from each of 2026-2029) at 10 payments of $2.5 million each from 2035-2044. The move lowers Edman’s tax salary from $14.8 million down to $13.27 million.

In 153 regular season games last season, Edman was used at CF, SS, 3B, & 2B. He projects to be the Opening Day starting center fielder for LAD as of now.

SP Yusei Kikuchi joins the Angels on a 3 year, $63.675 million free agent contract

After a rough 2+ year stretch in Toronto, Kikuchi drastically changed his free agent image with a strong final two months in Houston following a deadline trade to the Astros. The Angels, who have purged a few starting pieces this offseason already, are now paying the 33-year-old as a top of their rotation (possibly even ace) player.

The deal includes a flat $21.225 million per year salary through 2027, with additional service payments for a trainer ($100,000), interpreter ($75,000), & US-Japan airline tickets ($50,000).

At the time of this piece, the Angels current starting rotation now looks like:

Starting Pitcher 2025 Tax Salary
Yusei Kikuchi $21,225,000
Jose Soriano $800,000 (estimate)
Tyler Anderson $13,000,000
Kyle Hendricks $2,500,000
Reid Detmers $2,580,000 (estimate)

SP Frankie Montas joins the Mets on a 2 year, $34 million free agent contract

The 31-year-old starter has bounced around quite a bit over the past 3 seasons, and he declined a $20 million option with Milwaukee to hit the open market again this winter. He joins the Mets on a 2 year, $34 million deal that includes a player option for 2026, giving him the ability to control his destiny again next offseason.

The deal includes $17 million in each of the next two seasons, a slight upgrade from the $16 million he took home in 2024 ($14 million salary + a $2 million buyout on the declined option).

At the time of this piece, the Mets current starting rotation now looks like:

Starting Pitcher 2025 Tax Salary
Kodai Senga $15,000,000
Frankie Montas $17,000,000
David Peterson $5,500,000 (estimate)
Paul Blackburn $6,000,000 (estimate)
Tylor Megill $2,300,000 (estimate)

SP Matt Boyd signed a 2 year, $29 million free agent contract with the Chicago Cubs

After missing a year and a half (2023-2024) from Tommy John surgery, Boyd gave the Guardians 8 strong starts down the stretch, putting him in a nice spot to cash in this winter. The Cubs took the bait, handing Boyd a $29 million guarantee that includes a $2 million buyout on a mutual option for 2027.

The 33-year-old will earn $12.5 million this season ($7.5 million salary plus a $5 million signing bonus), $14.5 million in 2026, with a $15 million option for 2027 ($2 million buyout). The compensation is a huge upgrade for Boyd, who was given a league-minimum $740,000 contract from Cleveland as he rehabbed back to full health.

At the time of this piece, the Cubs current starting rotation now looks like:

Starting Pitcher 2025 Tax Salary
Shota Imanaga $13,250,000
Justin Steele $7,950,000 (estimate)
Jameson Taillon $17,000,000
Matt Boyd $14,500,000
Javier Assad $800,000 (estimate)


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