DALLAS — It was 24 years ago that baseball’s Winter Meetings, in this same location, produced one of the wildest free-agent runs in history.
Alex Rodriguez received a staggering 10-year, $252 million contract, twice as much as the biggest contract in sports history, and more than the total value of 18 MLB franchises.
Mike Hampton signed the richest pitching contract in history, an eight-year, $121 million deal with the Colorado Rockies. The Boston Red Sox signed Manny Ramirez to the second-largest contract in history with an eight-year, $160 million deal.
There was a record $739 million spent on 25 free agents at the Hilton Anatole in Dallas.
Now, nearly a quarter-century later, those meetings could look like a neighborhood bake sale with the amount of money that’s about to be distributed.
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Juan Soto is on the verge of signing a monstrous deal that will certainly exceed a record $700 million – perhaps even reach $750 million – two officials with direct knowledge of negotiations told USA TODAY Sports. The officials spoke on the condition of anonymity because they were not authorized to publicly comment.
Soto’s deal will eclipse Shohei Ohtani’s 10-year, $700 million deal last winter with the Los Angeles Dodgers, and will pay Soto an average salary of at least $47 million a year for 14 or 15 years. And, oh yes, it will include opt-outs just in case it’s somehow undervalued in a few years.
The New York Mets remain the favorites, executives say, but officials caution that the Yankees, Toronto Blue Jays and Boston Red Sox are all in the same $700+ million neighborhood. The deal certainly will be a blessing for teams with exorbitant contracts, suddenly making All-Star outfielder Fernando Tatis’ 14-year, $340 million deal look like a bargain if the San Diego Padres ever decide to move him.
Free-agent starters Corbin Burnes and Max Fried also are expected to receive deals exceeding $200 million at the meetings this week, and shortstop Willy Adames kicked off the meetings with a franchise-record seven-year, $182 million deal contract from the San Francisco Giants.
Baseball executives, scouts, managers, and agents are scheduled to descend upon Dallas on Sunday, and by the time they depart for their flights back home Wednesday afternoon, there could be nearly $1.5 billion spent on free agents.
Here at the five most intriguing free agents, top players who could be traded, and five teams to watch during the Winter Meetings:
Juan Soto, top free agents set to cash in
1. Juan Soto: The guy who turned down a 15-year, $440 million contract in 2022 will be laughing all the way to the bank. He made himself an extra $300 million by waiting. It took A-Rod nine years and a change of teams to win a World Series championship after his record contract. How long will it take for Soto to get that second ring – and will it be with the same team that signs him to this historic this contract?
2. Corbin Burnes and Max Fried: They haven’t thrown a pitch in more than two months, but their stocks have soared thanks to the contracts given to pitchers whose resumes pale in comparison. When Matthew Boyd receives a 2-year, $29 million contract without throwing more than 79 innings since 2019, when Luis Severino is getting $67 million over three years and Blake Snell is making an average annual salary of $36.4 million, Burnes and Fried should top $200 million. The San Francisco Giants, New York Yankees and Boston Red Sox all lurk. The only drama is whether Fried goes ahead and signs before Burnes, or lets Burnes set the bar. Fried priced himself out of Atlanta, but is expected to sign with the Yankees or Red Sox. If Soto goes to the Mets, Fried could find himself in a nice bidding war between the Red Sox and Yankees.
3. Alex Bregman: Teams everywhere are being linked to Bregman, but the truth is that the Astros badly want him back, and the feeling is mutual. The trouble is that they are about $50 million apart. The Astros have a six-year deal worth $156 million sitting on the table – $5 million more than third baseman Matt Chapman received from the Giants but $26 million less than Adames – and Bregman is seeking in excess of $200 million. The Astros are expected to enhance their offer, but will it be enough to convince Bregman to stay?
4. Teoscar Hernández: Did the Dodgers meet with Soto and let people believe they actually are pursuing him just to help them sign Blake Snell, another Scott Boras client? Did they let the Soto rumors fester just to up the pressure on a Hernández reunin? Or did they jump into the original bidding to drive up the Soto price tag for everyone else? The truth is that the Dodgers should re-sign Hernandez to a three-year contract, with perhaps a fourth-year option, for somewhere in the $65-80 million range. The two sides have been seriously engaged in negotiations this week, but caution there’s still a gap.
5. Pete Alonso: Alonso says he loves the Mets and the Mets say they love Alonso, but something seems off. The Mets tried to sign him to an extension – seven years and $158 million, according to the New York Post – but it was flatly rejected. There’s no sign that the two sides have since talked, leaving everyone to wonder whether David Stearns, Mets president of baseball operations, even wants Alonso. He could easily turn to Christian Walker, the three-time Gold Glove first baseman, who should come at less than half the cost of Alonso. Alonso could be a perfect fit for the Seattle Mariners.
MLB trade rumors surround top players
1. Garrett Crochet, White Sox: No player will command as much on the trade market than Crochet, the ace of the Chicago White Sox. They are asking for team’s top prospects, and no one blames them. He’s young (25), he’s cheap (projected to earn $2.9 million by MLB Trade Rumors) and he’s a stud, striking out 209 batters in 146 innings last season. The White Sox have had serious talks with the Philadelphia Phillies, but rejected the concept of Alec Bohm and outfielder Justin Crawford. The San Diego Padres would love him, and have dealt plenty of prospects in the past, but told the White Sox they are hanging onto catcher Ethan Salas and shortstop Leodalis De Vries. The Red Sox lurk. In the end, the White Sox will trade him to the team that gives them the most prized prospects, and hope they never again experience anything like their embarrassing 41-121 season.
2. Cody Bellinger: He may make too much money. No one is going to assume the entire $52.5 million left in Bellinger’s contract (if he opts back in for 2026 at $25 million). The Cubs would love to dump the contract, even for a lesser return, but they’re finding precious little interest. Still, there’s got to be a team out there that is willing to bite the bullet on the cash, and realize he’ll be a significant upgrade. We’re talking about you, Mariners and Yankees. He’ll definitely be moved, but it may not be until later this winter or spring.
3. Jordan Montgomery, Diamondbacks: When your boss calls you one of the worst decisions in his baseball career and is angry that you opted back into your contract at $22.5 million, you don’t need a therapist to know that you’re not wanted. The Diamondbacks are shopping him everywhere. They tried to get the Cubs interested in a swap for Bellinger. So far, they’re striking out, but considering the soaring price of pitching, and the brilliance he showed on the Texas Rangers’ World Series championship team, there’s a better shot of snow flurries in Phoenix next summer than Montgomery wearing a D-backs uniform.
4. Alec Bohm, Phillies: The Phillies realize they can’t run it back with the same offense again in 2025. It can be the most explosive in baseball, but as they’ve learned in the postseason, their lineup can also be awfully easy to navigate for opposing pitchers. Something has got to change, and Bohm easily has the most trade value among Nick Castellanos, Brandon Marsh and himself. If the Astros lose Alex Bregman in free agency, you can be assured that Phillies president Dave Dombrowski will be immediately on the phone offering Bohm for Astros reliever Ryan Pressly – who’s being extensively shopped.
5. Nolan Arenado, Cardinals: Let’s be honest, the Cardinals want him off the books and Arenado wants out of St. Louis if they’re not trying to win. He still has three years, $74 million left in his deal but if a team is willing to assume the entire contract, they’ll have to only send only a few Imo’s pizzas in return. Arenado has a full no-trade clause, but would be Ohtani’s personal driver if the Dodgers were willing to take him. The Red Sox could present a nice alternative, too. There are only a few suitors who have expressed the slightest of interest, but both sides know that if Arenado is still on the team when they report to Jupiter, Fla., the distractions of potential trade talks could be a nightmare for everyone.
Most intriguing teams at the Winter Meetings
New York Yankees: In case the Yankees are ready to drown their miseries if they don’t re-sign Soto, all they have to do is look at the Padres to give them a $700 million shot of confidence. The Padres had Soto the entire 2023 season. You know what happened? They missed the playoffs. They traded him to the Yankees in the offseason, and they got better. The Yankees, if they don’t land Soto, can easily sign free agent Christian Walker for first base, sign Bregman or trade for Arenado for third base, trade for Bellinger to play center, move Aaron Judge back to right field, and still sign a frontline starter. Losing out on Soto could turn out to be a blessing in disguise.
2. Boston Red Sox: They’ve talked a huge game all winter, and have been in strong pursuit of Soto. Yet, whether they land Soto or not, they can’t stop now. They have to sign Fried or Burnes, or even both. They could trade for Arenado too. The expectations are simply too high to sit back and tell everyone that they tried.
3. Baltimore Orioles: Yes, the days of losing 110 games a season are over. They’ve made the playoffs each of the past two seasons. But now much, much more is expected than just signing slugger Tyler O’Neill to a three-year, $49.5 million contract Saturday, especially with new ownership. The Orioles still have the best young players in the game, but if they’re not careful, that window will close in a hurry. Just ask the 2016 Cubs. If they don’t bring back Burnes, they better come up with a replacement. It’s also time to use those prized prospects as capital and Crochet should be in their sights.
4. San Diego Padres: The Padres, about to be hit with massive pay raises for Manny Machado, Tatis and Xander Bogaerts, could lose starters Dylan Cease and Michael King in free agency after the year. They need to win. And they need to win now. They’ve traded away a dozen prospects to become one of baseball’s most powerful teams, but painfully realize this could be their final year to compete for a title without taking a step back. They need at least one frontline starter, if not two starters, with Joe Musgrove out for the year and questions about how many starts Yu Darvish can make this season. Their dream scenario is landing Japanese sensation Roki Sasaki. He may be more essential to the Padres’ future than any team in baseball.
5.Atlanta: Come on, you know GM Alex Anthopoulos has some tricks up his sleeve after spending the first month creatively trimming about $38 million in payroll by trading Jorge Soler, letting catcher Travis d’Arnaud leave and restructuring two deals. They need at least one starting pitcher, if not two, with veteran starters Charlie Morton and Fried likely out the door. They also need a closer with Joe Jimenez expected to miss most of the season after undergoing knee surgery. They could also use a corner outfielder with Ronald Acuña expected to be out at least until late May. Keep an eye on Anthopoulos, who pulled off coups last winter by acquiring Chris Sale from the Red Sox and signing Reynaldo Lopez.
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