After a frenetic, record-setting beginning to MLB’s offseason hot-stove period, the free-agency market has slowed considerably to a near-crawl as several big names are still looking for new professional homes.
The first six weeks of the offseason included a massive run of deals that included the historic, $765 million contract between the Mets and Juan Soto, a flurry of moves by the Yankees to help counter that superstar’s departure, the Dodgers continuing to flex their financial and competitive might with a $182 million pact for pitcher Blake Snell, and even a surprising, $210 million agreement between the Diamondbacks and star pitcher Corbin Burnes.
Recent weeks, however, have revealed a much more cautious cadence, leaving former All-Stars such as Pete Alonso, Alex Bregman, Anthony Santander, and Tanner Scott still unsigned. The changing mood of the current free-agent market arrives as teams have upcoming arbitration hearings for eligible players who haven’t reached deals with their clubs, and franchises are now looking to finalize player payrolls for the upcoming 2025 season.
Spring training camps, meanwhile, open in less than a month for all 30 clubs.
The elongated timetable for the collection of still-unsigned star free agents recalls the “Boras Four” of the 2023–2024 offseason, a group of players represented by top agent Scott Boras and including Snell, fellow pitcher Jordan Montgomery, outfielder Cody Bellinger, and third-baseman Matt Chapman. Each of the quartet signed late in last year’s cycle with contracts below initial expectations, and then often struggled on the field—particularly in the early part of the 2024 season.
Snell since recovered to sign his big deal with the Dodgers, the former National League MVP Bellinger is now part of the Yankees’ recent retooling and is eyed for a big comeback in 2025, Montgomery returned to the Diamondbacks after being a target of criticism by team owner Ken Kendrick, and Chapman signed a six-year, $151 million extension with the Giants in September.
Boras represents Alonso and Bregman, with the former perhaps now considering a shorter-term contract with opt-outs in a situation said to be growing more urgent, and the latter reportedly less inclined to abandon a long-term agreement.
