November 4 is a pivotal date in the Major League Baseball offseason, marking the official commencement of free agency. On this day, players are granted the freedom to sign with new teams, which ignites a flurry of activity as organizations work to build their rosters. Additionally, it is the deadline for teams to tender qualifying offers to eligible free agents. Teams must also make key decisions regarding contract options, which can include club options (controlled by teams), player options and opt-outs (controlled by players), and mutual options, requiring agreement from both parties.
In the lead-up to this significant date, several important contract option decisions have already been made. Gerrit Cole has opted out of his contract with the New York Yankees, a move that allows him to explore free agency while the Yankees retain the right to negotiate his return. Blake Snell has also opted out of his deal with the San Francisco Giants, whereas Cody Bellinger has exercised his player option to remain with the Chicago Cubs. These moves highlight the strategic maneuvering that characterizes this period in the offseason.
One player who has made headlines is Rhys Hoskins, who exercised his $18 million player option with the Milwaukee Brewers. Hoskins endured a challenging 2024 season, finishing with a .214 batting average and 26 home runs while struggling to recover from a torn ACL. Given his performance and defensive limitations, it was unlikely he would secure such a lucrative deal as a free agent, making his decision to stay with the Brewers a sensible one as he aims for a stronger showing in 2025.
Brandon Lowe of the Tampa Bay Rays also had his contract option picked up for $10.5 million, making him the team’s highest-paid player for the upcoming season. This decision opens the door for potential trade discussions, as the Rays have a history of dealing their highest-paid players in the offseason. In 2024, Lowe recorded a .244 batting average and 21 home runs while dealing with an oblique strain, but with his contract including a club option for 2026, he could be an appealing target for other teams.
Sean Manaea’s choice to opt out of his $13.5 million contract with the Mets follows a successful late-season performance, where he showcased improved results after modifying his pitching mechanics. With a 3.09 ERA in his final 12 starts, Manaea’s decision to enter free agency was anticipated. The Mets are likely to extend a qualifying offer to him, but he is expected to pursue a multi-year contract with a new team.
On the other hand, Jordan Montgomery has opted to exercise his $22.5 million player option with the Arizona Diamondbacks, despite struggling during the season and being demoted to the bullpen. The team’s owner, Ken Kendrick, expressed regret over the decision to sign Montgomery, suggesting a possible trade could be in the works. In contrast, Robbie Ray declined to opt out of his final years of his $115 million contract with the Giants, mainly due to injury setbacks. Lastly, Eugenio Suárez’s $15 million option was picked up after a remarkable turnaround in performance, illustrating how players can rebound significantly over the course of a season.
