The calendar just flipped to late January 2026, and if you’re a fan of a team with a gaping hole in the rotation or a lineup that lacks "thump," you’re probably refreshing your feed every ten minutes. It’s that weird, stagnant part of the winter. We’ve seen the absolute monsters of the market find their homes—Kyle Tucker recently broke the internet by heading to the Dodgers on a massive $240 million deal, and Alex Bregman finally settled in with the Cubs. But look at the list of free agents MLB still has on the board. It is surprisingly deep for this late in the game.
Usually, by the time Spring Training tickets go on sale, the "big fish" are gone. Not this year. We still have a former MVP and a perennial Cy Young contender just… hanging out. It’s a game of chicken between agents like Scott Boras and front offices that are suddenly acting very budget-conscious.
The Last Big Bat: Cody Bellinger’s Market Mystery
Honestly, it’s a bit weird that Cody Bellinger is still available. You’ve got a guy who can play a Gold Glove-caliber center field, move to first base in a pinch, and provide left-handed power. He opted out of his deal, looking for a long-term home, and yet here we are. The Yankees were the favorites for a while, but they’ve been quiet lately. Rumors are swirling that the Blue Jays—who missed out on Tucker—might be pivoting his way.
Bellinger is the clear prize for anyone needing an outfielder. He’s 30 now, which is basically the "pay me now or never" age in baseball. If the Mets don't feel like Bo Bichette (who they just snagged for $126 million) is enough of a splash, they could theoretically jump in here too. But right now? It’s a lot of "checking in" and not enough "signing here."
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The Pitching Logjam: Framber Valdez Stands Alone
If you need a starter, there is one name that towers over everyone else: Framber Valdez. Since Dylan Cease signed that massive seven-year, $210 million contract with the Blue Jays, the pitching market has been sorta weird. Ranger Suárez took five years and $130 million to go to Boston, and Michael King stayed in San Diego for $75 million.
Valdez is basically the last "ace" left. The man is a workhorse. Since 2022, he’s thrown over 767 innings. That’s a lot of rubber. While his 3.66 ERA last season was a career-worst for a full season, his ground-ball rate is still elite. Teams like the Orioles or even the Padres (who always seem to have room for one more arm) are the ones to watch.
The problem? Age. Valdez is 32. Front offices are terrified of giving five or six years to a guy whose velocity might dip. But if you want to win a division in 2026, you kind of need a guy who can go six innings every five days without his arm falling off.
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Other Starters Looking for a Job
- Zac Gallen: A former Cy Young finalist who had a rough 2025 but finished strong.
- Chris Bassitt: The ultimate "pro's pro." He’s 37, but he’ll give you 180 innings of 3.80 ERA ball and won't complain about it.
- Justin Verlander & Max Scherzer: The legends. They’re basically looking for one-year deals to chase another ring. Baltimore has been linked to Verlander, which would be wild to see.
- Walker Buehler: The ultimate wildcard. He’s a "reclamation project" now after the injuries, but the upside is still there.
The Bargain Bin: Finding Value in the Infield
Behind the superstars, the list of free agents MLB front offices are scouring includes some really interesting "glue guys." Luis Arraez is still out there. Think about that. The guy is a hitting machine, even if he doesn't have a true defensive home. If you need a DH who hits .300 in his sleep, why hasn't he been signed?
Then there’s the veteran leadership tier. Paul Goldschmidt is 38 and coming off a season where he fell off a cliff in the second half. He’s sitting at 372 career home runs. He wants 400. Someone is going to give him a one-year "prove it" deal, likely a contender who needs a clubhouse presence.
And we can't forget Andrew McCutchen. At this point, it feels like he either plays for the Pirates or he retires. He launched 13 homers last year and still has a bit of life in the bat as a DH.
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Why the Delay?
Basically, the mid-tier market is paralyzed. Teams are waiting for the price of the top guys to drop, and the players are waiting for one team to get desperate. We saw the Phillies pivot instantly to re-sign J.T. Realmuto for $45 million after they lost the Bo Bichette sweepstakes. That’s usually how it happens—one domino falls, and then four more go in 24 hours.
The Best Remaining Position Players
- Cody Bellinger (OF/1B): The clear #1 bat left.
- Eugenio Suárez (3B): Huge power, huge strikeouts. A classic "three true outcomes" guy.
- Luis Arraez (1B/2B): The contact king.
- Harrison Bader (OF): Elite defense, shaky bat, perfect for a late-inning replacement or a platoon.
What Happens Next?
If you’re a fan, keep an eye on the "mystery teams." Every year, a team like the Mariners or the Tigers pops up in late January and snags a guy like Framber Valdez on a shorter, higher-AAV deal.
What you should do right now: Check your team's current 40-man roster. If they have a projected starter with an ERA over 5.00 or a DH hitting .210, they are likely on the phone with agents right now. The pressure of Spring Training starting in February is the only thing that actually moves the needle this late in the winter.
Keep an eye on the trade market too. Names like Tarik Skubal and Freddy Peralta are being floated as alternatives to signing free agents. If a team can't land Valdez, they might just trade the farm for Skubal instead.