Monday, Nov. 4 is an important date on MLB’s offseason calendar. It is the day free agency truly begins and players are free to sign with new teams. It’s also the deadline for teams to tender the qualifying offer to eligible free agents, and the day contract option decisions are due. Club options are controlled by the team, player options and opt outs are controlled by the player, and both sides have a say in mutual options.
Several important contract option decisions have already been handed down. Gerrit Cole opted out his deal with the Yankees (though they can still retain him). Blake Snell opted out his contract with the Giants. Cody Bellinger exercised his player option to remain with the Cubs. Here now is a roundup of other notable option decisions around the league.
Option decision: $10 million player option declined
Kershaw has indicated that he intends to retire with the Dodgers. That would seem to suggest that he’ll re-sign with the club at a later date as part of a new agreement.
Option decision: $8 million mutual option declined
Kim underwent season-ending shoulder surgery that will cause him to miss the start of the 2025 campaign. He’s clearly the second best shortstop on the market, suggesting he should be in line for a raise all the same.
Option decision: $8 million club option declined
The veteran catcher played just 99 games in 2024, but provided above-average offense behind starter Sean Murphy (who had easily the worst season of his professional career). d’Arnaud will now hit the market as a desirable backstop, despite turning 36 before spring training starts.
Option decision: $4 million option declined
In one of the more surprising moves, the Orioles will send the 34-year-old pitcher into free agency after two very impressive seasons in Baltimore. Coulombe struck out almost 10 batters per nine and allowed less than one home run per nine in 2024, all to the tune of a 2.12 ERA across 29 ⅔ innings. That will draw plenty of interest on the market.
Seranthony Domínguez, Orioles
Option decision: $8 million option picked up
After coming over from the Phillies at the trade deadline, Domínguez put up solid numbers out of the Baltimore bullpen. Six of the 10 runs he allowed were via the long ball, which is less than ideal, but he remains a perfectly cromulent set-up guy if that’s the way the Orioles prefer to go.
Option decision: Opted out of $20 million player option
Eovaldi earned his player option by throwing a combined 300 innings between 2023-24 (he reached 314 ⅔, but who’s counting). Despite just turning 35, he remains an above-average pitcher and one who has shown the ability to eat innings when healthy, though that is not always a guarantee. While the two-time All-Star will now test the market, Rangers executive Chris Young said Monday that the team has “great interest” in bringing him back.
Option decision: Declined $12 million club option
The Cardinals opted for a $1 million buyout of Gibson’s option. The right-hander, 37, had an ERA of 4.24 and a K/BB ratio of 2.22 in 30 starts and 169 2/3 innings this season. He’s topped 30 starts in each of the last three seasons.
Option decision: Exercised $18 million player option (per MLB.com)
Hoskins had the worst season of his career in 2024, his first year back from a torn ACL. He slashed .214/.303/.419 with 26 home runs and needed a productive September (.779 OPS) to get there. Hoskins turns 33 in March and he’s a poor defender who registered as a sub-replacement level player in 2024 (minus-0.2 WAR). There was little chance he would get $18 million as a free agent this offseason. He’ll look to bounce back with Milwaukee in 2025, and give free agency another go next winter.
Option decision: Declined $11 million club option
Lynn in his age-37 season pitched to a 3.84 ERA and a 4.31 FIP across 23 starts and 117 1/3 innings. During the 2024 season, Lynn topped 2,000 innings and 2,000 strikeouts for his career. He’s indicated he’s open to pitching again in 2025. The Cardinals owe him a $1 million buyout.
Option decision: $10.5 million club option picked up (per Tampa Bay Times)
That $10.5 million salary makes Lowe Tampa’s highest paid player in 2025, and thus makes him a trade candidate. The Rays have a history of trading their highest paid players every offseason (last year it was Tyler Glasnow and Manuel Margot), and Lowe could be next to go. He hit .244/.311/.473 with 21 home runs in 107 games around an oblique strain in 2024. His contract includes an $11.5 million club option for 2026, making him a potential two-year add for interested teams.
Option decision: Opted out of one year and $13.5 million
Manaea was having a strong season through mid July and was on track to opt out of his contract, then he lowered his arm slot to mimic Chris Sale, and pitched like an ace the rest of the way. He had a 3.47 ERA in 32 starts overall and a 3.09 ERA in 12 starts after lowering his arm slot. That late season success made it a slam dunk that Manaea would opt into free agency, so this decision is hardly a surprise. The Mets are likely to make Manaea the $21.05 million qualifying offer, which he’ll reject so he can seek a multi-year contract.
Option decision: $7.75 million club option declined
The 31-year-old Maton worked a combined 64 innings for the Rays and Mets, who acquired him via trade in July. Over those 64 innings and 71 appearances, Maton pitched to a 3.66 ERA and 4.10 FIP. That said, he was significantly better in the second half of the season, dropping his ERA by more than two full points after moving to New York. Instead of returning to the Mets on the club option, Maton receives a $250,000 buyout and becomes a free agent.
Option decision: Declined $20 million mutual option
Montas split the season between the Reds and the Brewers. While his surface-level statistics weren’t great, he’s clearly banking on teams being sweeter on him thanks to some strong underlying measures. He’ll be viewed as a mid-rotation starter candidate on the free-agent market.
Option decision: Exercised $22.5 million player option (per MLB.com)
D-backs owner Ken Kendrick took the blame for what he called the “horrible decision” and “biggest mistake” to sign Montgomery last spring, which was perhaps not the best start to the offseason. Regardless, it was always likely Montgomery would pick up his player option after pitching to a 6.23 ERA and being demoted to the bullpen late in the season. It seems likely the D-backs will trade him this offseason. They may have to eat money and/or take a bad contract back to make it work, though it’s hard to believe he’ll be with Arizona to begin 2025 after Kendrick’s comments.
Option decision: $16 million option picked up
Ozuna was an easy call coming off 39 home runs and a .302/.378/.546 season. With Jorge Soler shipped off to the Angels, Ozuna has his playing time wide open while the Braves hope for better injury luck in 2025.
Option decision: Declined to opt out of final years and $50 million (per ESPN)
This opt out is part of the five-year, $115 million contract Ray signed with the Mariners soon after being named the 2021 AL Cy Young award winner. He missed just about the entire 2023 season and most of the 2024 season with Tommy John surgery, and had a 4.70 ERA in seven starts when he did pitch in 2024. Ray will earn $25 million in both 2025 and 2026. It was expected he would decline to use the opt out as soon as he blew out his elbow and needed Tommy John surgery.
Option decision: $15 million club option picked up (per ESPN)
What a turnaround for Suárez. As late as July 1, Suárez was hitting .196/.279/.312 and striking out in close to 30% of his plate appearances. He had begun to lose playing time and it seemed like there was no chance his option would get picked up. Then, in his final 78 games, Suárez slashed .312/.357/.617 with 24 home runs, and was Arizona’s most productive player. He was so good that the D-backs picked up the option. The $15 million option had a $2 million buyout, so it was effectively a $13 million decision.
Option decision: Brewers declined $10.5 million club option (per ESPN)
In an interesting twist, Williams is not a free agent despite his option being declined. He still has one year of arbitration left, which means this decision makes him a free agent after 2025. The Brewers have previously admitted he’s a trade candidate this offseason, so expect to see his name a lot. He’s been lights out for the Brewers for years, sporting a career 1.83 ERA and 1.02 WHIP with 375 strikeouts in 235 2/3 innings in his six-year career.
