Thirteen players have received a qualifying offer this year, reports Jeff Passan of ESPN. The list is as follows:
- Kyle Tucker, OF, Cubs
- Kyle Schwarber, OF/DH, Phillies
- Bo Bichette, SS/2B, Blue Jays
- Framber Valdez, LHP, Astros
- Dylan Cease, RHP, Padres
- Ranger Suarez, LHP, Phillies
- Edwin Diaz, RHP, Mets
- Zac Gallen, RHP, D-backs
- Shota Imanaga, LHP, Cubs
- Michael King, RHP, Padres
- Trent Grisham, OF, Yankees
- Gleyber Torres, 2B, Tigers
- Brandon Woodruff, RHP, Brewers
This year’s QO is valued at $22.025MM. All 13 players will have until Nov. 18 to decide whether to accept that one-year offer or decline and become a free agent. They can spend that time gauging the open market to determine interest in their services. If a player accepts the QO, he’ll be treated as a free agent signing and thus will be ineligible to be traded without his consent until June 15 of next year. If he declines, any team that signs him will be subject to draft and/or international bonus forfeitures, depending on its revenue-sharing and luxury tax status.
The bulk of the list was generally expected. Every recipient other than Torres and Imanaga was pegged as likely or a no-doubter to receive the QO on MLBTR’s annual lists of qualifying offer previews for position players and for pitchers. Torres was viewed as something of a long shot, at least on the MLBTR staff. He’s coming off a nice season in Detroit but struggled through a poor finish — perhaps in part due to injury — and wasn’t hit with a QO last offseason when coming off a comparable year at the plate in the Bronx.
Imanaga was listed as a borderline call on our preview as well. The Cubs declined a three-year, $57.75MM option on Imanaga last week. He subsequently declined a $15.25MM player option (which came with an additional player option at $15.25MM) — effectively opting out of a remaining two years and $30.5MM. The Cubs are banking on Imanaga also turning away one year at just over $22MM after turning down that remaining $30.5MM in guaranteed money.
The qualifying offer is determined each year by taking the average of the game’s 125 highest-paid players. We’ve already covered the penalties that each team would face for signing a qualified free agent, as well as the compensation each club would get for losing a qualified free agent to another team.
Among the notable free agents to not receive a qualifying offer are Lucas Giolito, Robert Suarez, Devin Williams and Jorge Polanco. Giolito might have received one had it not been for a late elbow issue that ended his season. Suarez has been excellent and just opted out of the remaining two years and $16MM on his contract, but he’ll be 35 next year. The Padres have been reducing payroll in recent seasons and likely didn’t want to risk Suarez locking in that weighty one-year sum. Williams would have received a QO with a typical season, but he struggled throughout much of the season’s first four months before a dominant finish. Polanco enjoyed a terrific rebound campaign but is 32 years old and was limited to DH work for much of the season due to ongoing injury issues.
The qualifying offer grants each of these free agents the chance at a notable one-year payday, though the majority of them will reject without much thought. Players like Tucker, Bichette, Schwarber, Valdez, Cease, Suarez and Diaz are likely to see comparable or larger (much larger, in Tucker’s case) salaries on multi-year deals in free agency. Even players like Grisham, who probably won’t land a $22MM annual value over multiple years, are still likely to reject. Major league free agents typically — though not always — prioritize long-term earning over short-term, higher-AAV pacts. A three- or four-year deal worth $14-16MM per year, for instance, is typically viewed as preferable to accepting one year at a higher rate.
There’s risk in declining the offer, of course. Teams are more reluctant to sign players who’ll cost them valuable draft picks and/or notable portions of their hard-capped bonus pool for international amateurs. Every offseason, there are a handful of free agents whose markets are weighed down by the burden of draft pick compensation. That typically applies to the “lower end” of the QO recipients. For top stars like Tucker, Bichette, etc. — draft/international forfeitures are simply considered the cost of doing business and don’t tend to have much (if any) impact on the player’s earning power.