Qualifying offers, options, and opt-out decisions kick off MLB free agent season

November 4, five days after the end of the 2019 World Series, is the deadline for clubs or players to exercise contract options for the 2020 season. It’s also the deadline for players to serve notice if they intend to opt out of their contracts (if their contract has such a clause), and for teams to make a qualifying offer of $17.8 million to their own free agents for the 2020 season if they hope to receive draft pick compensation should the player sign with another team.

Under the terms of the latest collective bargaining agreement (CBA), teams who lose a qualified free agent will receive a supplemental round draft pick between the first and fourth rounds as compensation. Teams who sign a qualified free agent must pay compensation in the form of their second to sixth highest selections, and possibly some international bonus pool money. This only applies to the highest qualified free agent players. Players will have until November 14 to accept or reject a qualifying offer. The Detroit Tigers have five free agents, but none are in consideration for a qualifying offer.

There are over 100 players who are free agents. Another 60 players have options that either the club or the player must exercise or decline. Only then will the full extent of the free agent market fully take shape.

So let’s dive right in.

Last update: November 4, 2019, 8:00 PM EST

The top eight players on the list above are virtually certain to receive qualifying offers. The other players are strong possibilities. The Nationals’ Anthony Rendon and Stephen Strasburg, and the Astros’ Gerrit Cole, are the hottest free agents this winter. Each will receive a qualifying offer, and will decline the offers.

Jake Odorizzi is an interesting case with the Minnesota Twins. Coming off a fine season, the Twins would love to keep him, although the qualifying offer is pricey. He surely would not want to enter free agency with draft pick compensation attached to him.

Will Smith is a good reliever who, like most relievers, has no business getting a salary of $17.8 million for one year, but this could be his only shot at another multi-year contract, so he seems likely to decline the offer if the San Francisco Giants risk making one. They didn’t trade him at the deadline, perhaps thinking that a compensation pick was the least they’d get for him.

Keep in mind that players who were traded during the season, such as Nicholas Castellanos, or those who have received qualifying offers previously, are not eligible to receive a qualifying offer. Ineligible players include Nicholas Castellanos, Edwin Encarnacion, Yasmani Grandal, Yasiel Puig, Dallas Keuchel, and Hyun-Jin-Ryu.

Here are the players who can opt out with multiple seasons remaining, or exercise a player option for 2020.

Last update: November 4, 2019, 8:00 PM EST

J.D. Martinez could opt out of the three years and $62.5 million remaining on his contract with the Boston Red Sox, in which case the club would make a qualifying offer as he hits the free agent market looking for a more lucrative deal. Boston, being suddenly cost conscious, reportedly sat down with Martinez and his agent but did not offer an extension. He might be better off staying put.

Stephen Strasburg has opted out of his remaining four years and $100 million on his contract with the Nationals, and will now receive a qualifying offer, which he will obviously decline.

Chapman was all set to opt out as he tried to negotiate an extension with the Yankees. The two sides agreed to add one season at $18 million salary to the end of his current contract.

Jansen struggled late in the season, leaving the Dodgers to wonder if they need another closer, so he’s not likely to chance free agency.

Club Options and Buyouts

By far, the greatest number of contract options are straight club options. Most of these options come with a buyout that is paid to the player if the club declines their option. There are also some “mutual options” which require both the player and club to extend the contract for another season at a pre-determined price, which almost never happens. It’s a way of deferring some salary to the next season.

Here are the club and mutual options. We will try to update as news rolls in.

Last update: November 4, 2019, 8:00 PM EST

This list is compiled from information available across multiple web sites including MLB Trade Rumors, Roster Resource, and Cot’s Contracts. We will try to update this along the way, with a big update on Monday evening when all the decisions are due.