Pitcher Nick Martinez has decided to accept a $21.05 million qualifying offer from the Cincinnati Reds, choosing to stay with the team instead of entering the free-agent market.
Martinez, a 34-year-old right-handed pitcher, was one of 13 free agents who received qualifying offers from their previous teams on November 4. Players had until 4 p.m. EST on Tuesday to make their decision.
His agent, Scott Boras, confirmed on Monday that Martinez had informed the players’ association of his choice to accept the offer. The union will notify Major League Baseball of all the players’ decisions on Tuesday.
The qualifying offer system started after the 2012 season, and before this offseason, only 13 out of 131 qualifying offers had been accepted. The value of the offer is based on the average salary of the 125 highest-paid players from the previous season.
A player can only receive a qualifying offer once in their career, so Martinez will be able to become a free agent next year without any compensation attached.
Martinez had agreed to a one-year, $14 million contract last December, which included a $12 million player option that he declined. He had a solid season in 2023, going 10-7 with a 3.10 ERA in 16 starts and 26 relief appearances. He struck out 116 batters and walked 18 in 142 1/3 innings.
In his career, Martinez has a 37-45 record with a 4.09 ERA over seven seasons with Texas (2014-2017), San Diego (2022-2023), and Cincinnati. He also spent time pitching in Japan between 2018 and 2021.
Other players who received qualifying offers include New York Yankees outfielder Juan Soto, Baltimore pitcher Corbin Burnes, Boston pitcher Nick Pivetta, and several others.
If a player who declines a qualifying offer signs with a new team, the team signing them must give up at least one pick in the upcoming amateur draft and possibly part of their signing bonus pool for international players. If a team loses a player who declined the offer, they will receive an additional draft pick.
