Though much of the trade chatter surrounding the Brewers will focus on ace Freddy Peralta, who’s a free agent following the season, Joel Sherman of the New York Post reports that closer Trevor Megill is drawing interest from an even wider number of clubs. That includes the Yankees and Mets, per the report.
Megill, 32, popped up as a speculative trade candidate last month after Brandon Woodruff accepted his one-year, $22.025MM qualifying offer. That decision pushed the Brewers’ payroll up to its currently projected $135.5MM, per RosterResource, which would stand as the highest Opening Day total in franchise history.
There’s no indication that Milwaukee needs to shed salary now — they wouldn’t have made the QO to Woodruff had they been wholly unwilling to risk him accepting — but the budget has obviously tightened since decided to forgo the open market. In the aftermath of that trade, both president of baseball operations Matt Arnold and owner Mark Attanasio publicly indicated that Woodruff accepting his QO and any decision on whether to trade Peralta (or other veterans on notable salaries) were separate issues. The fact that Milwaukee tendered contracts to its entire arbitration class, including a borderline non-tender candidate in Jake Bauers, supports that thinking.
Still, the Brewers are perennially open-minded when it comes to trading established veterans as they inch closer to free agency. They traded Josh Hader when he had one and a half seasons of club control left. Corbin Burnes and Devin Williams were traded in the offseason prior to their final years of club control. Stretching further back, the Brewers traded Jonathan Lucroy when he was a year and a half from free agency, too. Listening on someone like Megill, who’ll be a free agent after the 2027 season and is projected by MLBTR contributor Matt Swartz to earn $4.2MM in 2026, is par for the course.
It’s also plenty understandable that the flamethrowing Megill would be drawing widespread interest. Not only is he controllable for two more seasons and projected for a relatively bargain salary — he’s also quietly established himself as one of the more overpowering relievers in the game.
The Brewers acquired Megill in a heist of a deal with the Twins early in the 2023 season, sending a player to be named later to Minnesota, who’d designated Megill for assignment after one season. The Twins had claimed him off waivers following a DFA by the Cubs the offseason prior. Chicago had previously selected him from the Padres in the Rule 5 Draft. Suffice it to say, Megill’s path to being a high-end reliever was anything but direct.
That’s precisely where he finds himself now, though. Since landing in Milwaukee, Megill has bumped what was already plus-plus velocity, climbing from an average of 98.1 mph on his four-seamer to 99.2 mph this past season. He’s dropped his earned run average in four consecutive seasons, culminating in last year’s sterling 2.49 mark.
In 128 innings with the Brewers, Megill touts a 2.88 ERA (2.99 SIERA, 2.62 FIP). He’s fanned an outstanding 31% of his opponents and done so while showing average command, evidenced by an 8.2% walk rate. He’s prone to hard contact in the air when opponents do connect — 91 mph average exit velocity (93.6 mph in the air), 40.2% hard-hit rate, 44.4% fly-ball rate — but Megill also boasts a big 14% swinging-strike rate and an opponents’ contact rate of just 71.5% in three years as a Brewer. (League average is just under 77%.) He’s also saved 50 games, including 30 in 2025.
Megill missed time late in 2025 with a flexor strain, which could complicate trade talks, but he returned prior to the end of the season and then fired four sharp innings in the playoffs (one run on three hits and a walk with five strikeouts). He’s allowed one run in 7 1/3 playoff innings over three seasons in Milwaukee, totaling a 12-to-1 K/BB ratio along the way.
Two years of Megill at what would amount to something in the $10-11MM range (depending on the scope of next winter’s arbitration raise) would be a raucous bargain. In free agency, he’d command more than that total per year — likely over three or four years. It’s the sort of surplus value and the general price range that should command interest from all walks of postseason hopefuls.
The Mets are an obvious fit, given president of baseball operations David Stearns’ ties to the Brewers organization. Stearns had already stepped aside as president of baseball operations at the time Megill was acquired, but he was still serving as an advisor to the aforementioned Arnold, who’d been his top lieutenant prior to that advisor shift. The Mets have already signed Williams — another former Brewer — on a three-year, $51MM contract. The bullpen remains a work in progress, however. Each of Tyler Rogers, Ryne Stanek, Gregory Soto and Ryan Helsley became a free agent at season’s end. Lefty A.J. Minter is on the mend from lat surgery. Reed Garrett and Tylor Megill — Trevor’s younger brother — will miss all of 2026 after undergoing UCL surgery (the former in October, the latter in September).
It’s a similar story across town in the Bronx. The Yankees lost Clay Holmes to free agency last offseason and saw Williams and Luke Weaver hit the open market this winter. Mark Leiter Jr. and Ian Hamilton were non-tendered. The top end of Aaron Boone’s bullpen is a bit more established than that of counterpart Carlos Mendoza over in Queens, but the Yankees are surely in the market for multiple bullpen arms to complement David Bednar, Fernando Cruz, Camilo Doval and Tim Hill.
For clubs like the Mets, Yankees and other luxury-tax payors, Megill ought to hold extra interest. Both New York clubs are perennial residents in the top bracket of luxury penalization. They’re paying anywhere from 95% to 110% taxes on incoming additions. Getting Megill would “only” cost them a total of $8-9MM — plus whatever prospects are deemed necessary for the Brewers to part with him.
To emphasize once more, there’s no clear indication Megill (or Peralta) will actually change hands. The Brewers will understandably set a high asking price for either. They just tallied the best record in the National League and lost very few players in free agency. They’ll also get a full year out of the new-and-improved Andrew Vaughn (.308/.375/.493 in 64 games with Milwaukee) and can count on more innings from Woodruff (64 2/3 innings in 2025). Milwaukee has to be considered the division front-runner and a threat to make a deep playoff run. If they part with Megill and/or Peralta, it’ll very likely be for younger, affordable big leaguers who can be controlled for a much longer term — or at the very least for high-end prospects who could be subsequently spun into more controllable big league help.