MLB free agency: Three things we learned Monday as Yankees, Braves, more make notable contract decisions

Major League Baseball’s offseason isn’t yet a week old, but a few notable deadlines passed on Monday afternoon. Not only did teams and players alike have to make their decisions on contract options for the 2025 season, but teams had to choose to tender the qualifying offer to their impending free agents. (Thirteen players received the qualifying offer and will now have just over two weeks to take it or leave it.) This all happened as free agency began in earnest at 5 p.m. ET.

With so much going on, we here at CBS Sports figured it would be prudent to highlight some of our biggest takeaways from a busy day in baseball. 

With that established, let’s get to it.

1. Yankees, Cole provide offseason’s first twist

Without a doubt the biggest development on Monday had the Yankees retaining ace Gerrit Cole. A few days back, Cole had exercised an opt-out clause in his contract that would’ve allowed him to reach free agency if and only if the Yankees did not exercise their own clause that added an additional year to his contract at $36 million.

Those were the two plausible outcomes on the table. So, naturally, it appears the two sides engaged on the matter and decided to take a different, third route. Multiple reports indicated that Cole will continue on with the four years and $144 million remaining on his deal. In essence, it’s like Cole didn’t opt out in the first place. What’s more is the parties have agreed to continue discussing an extension.

The Yankees notably did not extend a qualifying offer to any impending free agent other than outfielder Juan Soto. That group includes both reliever Clay Holmes and second baseman Gleyber Torres. It’s still possible the Yankees retain either/or both Holmes or Torres heading forward; they just won’t do so through this vehicle. 

2. Braves free up more budget room

A few days ago, the Atlanta Braves made the first trade of the winter, shipping outfielder Jorge Soler to the Los Angeles Angels for pitcher Griffin Canning. We explained at the time that the Braves had cleared up some budget space, seemingly with an eye on making a splash this winter. 

The Braves cleared even more space on Monday, declining an $8 million club option on catcher Travis d’Arnaud. Although d’Arnaud will turn 36 in February, he’s fresh off a season that saw him post a 101 OPS+. Factor in Sean Murphy’s disappointing year at the plate, and it only made sense for the Braves to want to retain d’Arnaud.

Clearly whatever general manager Alex Anthopoulos has in mind took precedence for him over having a good Plan B at catcher; be it pursuing free-agent shortstop Willy Adames, attempting to retain lefty Max Fried, or some other chase yet to reveal itself. 

3. Starter market could be nuts

Monday brought plenty of evidence that both sides, the teams and the agents, think the starting pitcher market is going to be hectic. 

Consider that the Cincinnati Reds and Boston Red Sox threw qualifying offers (of more than $21 million) at veteran right-handers Nick Martinez and Nick Pivetta. Meanwhile, Frankie Montas, he of the 89 ERA+, declined his end of a mutual option with the Milwaukee Brewers worth $20 million.

For reference, six starting pitchers plus Shohei Ohtani signed contracts with an average annual value of at least $20 million last season. When teams are behaving this way with pitchers of Martinez and Pivetta’s ilk, or when players like Montas are willing to forgo money for a chance at the open market … well, you get the sense that everyone expects this to be a wild, wild winter at least as it pertains to the starting pitcher market. 

Monday’s business means we’re one step closer to finding out if they’re right.