Major League Baseball’s 2026–27 offseason is underway, featuring two-time Cy Young winner Tarik Skubal as the top free agent on the market, according to ESPN. Teams rushed to make moves ahead of an expected December 1 lockout and pending collective bargaining agreement negotiations.
The hot stove league ignited just days after the Milwaukee Brewers hoisted the franchise’s first World Series championship trophy. With the current collective bargaining agreement set to expire on December 1, 2026, at 11:59 p.m. ET, clubs faced an accelerated timeline to execute trades, exercise options, and extend qualifying offers before a potential owner lockout.
Tarik Skubal hits free agency after blockbuster trade run
Skubal enters free agency for the first time in his career following a whirlwind stretch that saw him traded to the Los Angeles Dodgers ahead of the 2026 trade deadline. While the Dodgers were ultimately swept in their postseason run by the Brewers, Skubal dismissed outside narratives regarding the club’s championship window.
I don’t feel that at all. It’s hard to win the World Series, and this group has done it the last two seasons. Obviously, not this year, but … I think that this group is incredibly talented. And the preparation and the work ethic that this group has — I don’t buy into that narrative.
Tarik Skubal, pitcher
Industry projections place the left-hander in historic financial territory. According to projections, Skubal could command a seven-year deal worth a substantial sum, sitting roughly at half the total value of Juan Soto’s record contract while shattering arbitration and pitching per-year records. MLB insider Jim Bowden reported that the sense he gets from people that he has talked to, is that he would love to be a Los Angeles Dodger.
Cubs and Padres decline multiple pitcher options
As the November 2 option and qualifying offer deadline arrived, front offices across the league made immediate roster adjustments. The Chicago Cubs declined a $7.5 million option for pitcher Colin Rea, ESPN reported. The San Diego Padres declined options on Nick Pivetta, Lucas Giolito, and Griffin Canning while exercising their option on Hart. Meanwhile, the Boston Red Sox picked up Garrett Whitlock’s $8.25 million option, and the Tampa Bay Rays retained ace pitcher Drew Rasmussen by picking up a $20 million option.
In Atlanta, the Braves exercised options on Ronald Acuña Jr. and Ozzie Albies. The Seattle Mariners exercised Andrés Muñoz’s option while declining options on Victor Robles and Bryce Miller.
Market projections for premium free agents
Beyond Skubal, the free agent class features a select tier of impact players drawing attention from big-market and dark-horse suitors alike. Michael King opted out of a multi-year pact following a strong campaign, drawing interest from the incumbent Padres alongside East Coast pursuers such as the Baltimore Orioles and Toronto Blue Jays, with a projected three-year valuation.
Other major bats and arms drawing early market interest include Freddy Peralta, Randy Arozarena, and Seiya Suzuki.
Earlier coverage: Tarik Skubal Headlines Weak MLB Free-Agent Class Facing CBA Deadline
