The 2025-26 MLB hot stove has been lit just days after the Los Angeles Dodgers hoisted their second consecutive World Series championship trophy.
All eyes this winter are on a free agent hitting class featuring Kyle Tucker, Kyle Schwarber, Cody Bellinger, Alex Bregman and Pete Alonso. But they’re not the only ones who will make a splash in the market.
Which teams will go big to contend for the 2026 World Series title? And who will make the trades and deals that have everyone buzzing?
Below is a running list of notable transactions and updates from throughout the MLB offseason.
Key links: Free agency, trade grades | Top 50 free agents | Fantasy spin | Best fits for top free agents
Passan’s ultimate offseason preview
Notable MLB offseason transactions
Nov. 18
The Baltimore Orioles acquired outfielder Taylor Ward from the Los Angeles Angels in exchange for right-hander Grayson Rodriguez.
New York Yankees outfielder Trent Grisham, Detroit Tigers infielder Gleyber Torres, Milwaukee Brewers pitcher Brandon Woodruff and Chicago Cubs pitcher Shota Imanaga accepted their qualifying offers, meaning they’ll return to their respective teams in 2026 at salaries of $22.025 million.
Nov. 17
Reliever Ryan Yarbrough will be back in the Bronx after agreeing to a one-year deal with the New York Yankees.
Nov. 16
First baseman Josh Naylor and the Seattle Mariners have finalized a five-year, $92.5 million contract that has a full no-trade clause and no deferrals, sources tell ESPN.
Nov. 4
Chicago Cubs SP Shota Imanaga becomes free agent after team, player reject options for 2026
Nov. 3
Milwaukee Brewers exercise option on SP Freddy Peralta; SP Brandon Woodruff declines option
Boston Red Sox 3B Alex Bregman opts out of contract; SP Lucas Giolito declines option
New York Yankees OF Cody Bellinger declines option
New York Mets 1B Pete Alonso, RP Edwin DÃaz opt out of contracts
Key offseason dates
Nov. 6: Free agency begins at 5 p.m. ET
Nov. 10-13: GM meetings in Las Vegas
Nov. 18-20: Owners meetings in New York
Nov. 18: Deadline to accept or reject qualifying offer
Nov. 21: Non-tender deadline
Dec. 8-10: Winter meetings in Orlando
Dec. 9: MLB draft lottery
Dec. 10: Rule 5 draft