Soto is the clear prize of 2025 free agency. A generational talent only entering his age-26 season, Soto has finished with an OPS above .900 in six of seven seasons and won the World Series in only his second MLB season. It could take upwards of $500 million to land Soto, with the Yankees, Mets, and Dodgers among the teams in play.

Despite winning his second Cy Young Award in 2023, Snell failed to land the long-term deal that he sought last offseason. He settled for a one-year deal with a player option that he will likely opt out of after finishing 2024 with a bang. The biggest concerns for Snell have been his lack of control and durability, but the supply of pitchers of Snell’s ability is limited.

Burnes has been an All-Star in four consecutive seasons, and won the Cy Young with Milwaukee in 2021. Over that stretch, he’s been one of the most reliable starters in the game, though the right-hander has shown signs of slippage over the last two years with a decline strikeout rate and ERA above 3.00. The lack of strikeouts could be enough to put Burnes on the backburner for some teams, but he’s still likely to get an enormous contract going on age 30.

Fried’s career ERA is just a touch above 3.00 over eight seasons, which is all that needs to be said about his ability. The lefty has been a consistency ace for the Braves since 2020, and finished second in the Cy Young race in 2022. Still, there are durability concerns with Fried having elbow issues in each of the last two seasons, which could limit teams’ willingness to give him a long-term deal.

As of the fall, it’s unclear if Sasaki will be available in the offseason. Chiba Lotte could opt not to post the 22-year-old starter, but he’s been terrific in his early pro career with an ERA near 2.00 over four seasons. It’s reasonable to rank Sasaki No. 2 on the list if he is posted.

Adames reached 30 home runs for the second time in three seasons, and right on time as he enters free agency. The shortstop has been an all-around leader for the Brewers, regularly producing clutch hits while playing solid defense. He also still has some time left in his prime at age 29.

One of the faces of Houston’s dynasty, Bregman is at risk of going elsewhere after nine seasons with the Astros. His offense got on track in 2024 after a very slow start, though his on-base percentage is easily his worst since his rookie campaign. That’s certainly a concern for a hitter in his early 30s, though Bregman’s defense and power remain strong. Bregman will likely seek to at least equal the recent six-year, $151 million contract that fellow hot corner Matt Chapman received from the Giants recently.

A former ace early in his career with the Cardinals, Flaherty was sidetracked by injuries for several seasons. He’s made the most of a one-year deal in 2024, revitalizing his career with the Tigers and Dodgers with a sub-4.00 ERA in both homes. His K/BB ratio above 6.00 shows a true ace, and Flaherty has reached 150 innings for the third time in his career. A long injury history, including a chronic shoulder problem, make Flaherty a risk on a long-term deal, but there are few pitchers in the game with as much ability.

Santander is ready to cash in after a mammoth season, making his first All-Star appearance and finishing with more than 40 home runs. While limited defensively, Santander has emerged as a middle-of-the-order bat over the last three years and also has a strong contact rate for a power bat. He does have age (30) and limited defensive range going against him.

The Mets have yet to give in to Alonso’s contract demands, even as he remains a fan favorite since he won Rookie of the Year in 2019. The four-time All-Star has been a consistently big thumper with five seasons hitting well over 30 home runs. Still, the overall production has declined over the last two years with Alonso’s batting average plummeting in 2023 (with a slight bounce-back in 2024), and his profile doesn’t project well for the long-term as he nears age 30. There’s certainly some risk here if Alonso is given more than three years.

Unsigned heading into free agency, Bellinger signed a one-year, $30 million contract with the Cubs with two player options. He hasn’t had a great year in 2024, but it’s likely good enough that he will opt out. After a pair of terrible seasons with the Dodgers in 2021-2022, the former Rookie of the Year and MVP has put that slump behind him with his career getting back on track over the last two seasons. His injuries and sub-.800 OPS this season don’t show the elite player we saw earlier in his career, but great defense and big upside add intrigue for a team looking to get value from their signings.

Houston’s acquisition of Kikuchi from Toronto at the trade deadline, moving two strong prospects, was a head-scratcher given his performance. It’s made more sense after Kikuchi has improved over the last two months, and the lefty has likely added significant future money to his bank account in the process. His ERA has inched downward toward 4.00, and his command has never been better, with a K/BB ratio well above 4.00 after the trade. Kikuchi can look like an ace when he’s at his best, and the peripherals back up that potential.

A late bloomer who didn’t find his footing in MLB until his age-28 season, Walker has quietly been one of the best first basemen in the game over the last three years. He’s trying to win his third straight Gold Glove this season, and he kept up his strong home run pace despite missing time to injury. Father Time is the enemy for Walker’s contract as he enters his age-34 season, yet he’s shown no sign of slowing down.

Coming off a subpar offensive season in Seattle, Hernandez revived his value on a one-year deal in L.A. during 2024. He remains a premium power bat who has posted an OPS above .800 in four of the last five seasons, and is also seemingly well-liked by teammates. The high-strikeout, power profile does make Hernandez a risk on a long-term deal heading into his age-32 season, but premium power is in short supply.

Manaea opted out of his contract with the Giants last offseason, and is likely to press his luck again with an opt-out this offseason. The lefty is arguably having a career year, and has done his best work down the stretch. Control remains an issue for Manaea, but he continues to fan more than one batter per inning and show plus durability with over 150 innings for the fifth time in his career.

The control can be erratic, but the combination of elite stuff and strong groundball numbers have made Scott one of the best late-inning relievers in baseball. He emerged as an extremely reliable closer for the Marlins over the last two seasons, and hasn’t let up since being traded to the Padres. While the control slipped this season, Scott made his first All-Star appearance and will likely finish with an ERA below 2.00. Long-term deals for relievers are always risky, but Scott is deserving.

A change of scenery has done O’Neill wonders this season, tallying 30 home runs for the second time in his career after being traded from St. Louis to Boston. The former Gold Glover doesn’t have the range that he did earlier in his career, but O’Neill remains capable on defense. It’s the elite power that should make teams so interested, as he reached the 30-HR milestone in just over 100 games played. On the other hand, O’Neill’s injury history could give some teams pause.

Bieber was headed for an enormous payday this offseason before tearing his elbow ligament early in the year. The good news is that early-season Tommy John surgery should allow Bieber to return fairly early in the 2025 season if his rehab goes well. He won the Cy Young in the abbreviated 2020 season and has mostly been a frontline starter during his career, though slipping velocity, strikeout rates, and durability in recent seasons are a major concern. He could opt for a short-term deal to rehab his value.

It’s been a frustrating year for Kim between injuries and struggles at the plate, but that shouldn’t stop him from opting out of his contract. The Korean infielder continues to field at an elite level after moving to shortstop, and he’s also mostly shown plus on-base skills. There’s some risk the performance will slip as he nears age 30, but a more hitter-friendly home ballpark can’t hurt.

Torres is one of the most interesting free agent cases this offseason. At his best, Torres has been a star, including a 38-home run campaign in 2019. However, he struggled for most of 2024 and was pulled from the Yankees lineup multiple times for lack of hustle. It’s become clear New York is ready to move on, but Torres is young enough to make noise as he enters his age-28 season.

Estevez is having a career year at the right time, showing uncharacteristically elite control as closer for the Angels and Phillies. He’s been at least an adequate closer over the last two seasons since moving on from Colorado, and has plenty of velocity as he enters his age-32 season. The two-year, $13.5 million contract that he signed in his last free agency could see a multiplier.

Jansen is arguably the best closer of his generation, as he approaches 500 career saves. Random injuries in recent seasons show Jansen’s age, yet he’s remained very reliable overall in his mid-30s. Each passing year brings more risk for the 37-year-old, but his track record could earn him another multi-year contract.

Wacha’s recent resurgence continues, going on his third straight season with a low-3.00’s ERA. There are certainly more durable pitchers, but Wacha was able to reach 150 innings for the third time in his career while also continuing to show near-elite control. There are no major signs of slowing down for the right-hander.

Hitters with Hall of Fame resumes don’t grow on trees, which is part of Goldschmidt’s case as he enters free agency at age 37. The 2022 MVP is in clear decline, with easily the worst offensive season of his career in 2024, but he still produced an OPS above .800 in the second half to help him reach 20 home runs. He could have at least one more year left as a regular, and is also known as a positive clubhouse presence.

While Yates had a good year as a setup man for the Braves in 2023, he wasn’t seen as a great closing option entering free agency last year. That changed for the Rangers when Jose Leclerc faltered, and Yates has emerged as arguably the best closer in baseball this season. His home run rate is likely to regress in the future, if his history is any indication, but Yates has earned himself a nice pending payday in his age-38 season with the splitter never showing more life.