The MLB free-agent market will not open until Monday. In the meantime, teams and players are making decisions on various contractual options. Right-handed starter Marcus Stroman and shortstop Tim Anderson are two players whose options have been analyzed.
Here are the most notable option calls leading up to the start of free agency. The options will be divided into those that were exercised and those that were declined.
Opt-outs
Marcus Stroman, RHP, Chicago Cubs
Marcus Stroman exercised his opt-out clause with one year and $21 million remaining on his Cubs contract. This makes him a free agent available to all teams. Stroman had solid numbers in the 2023 season, with a 3.95 ERA and 113 ERA+ in 136 2/3 innings. He was also named an All-Star for the second time in his career.
Exercised
Max Kepler, OF, Minnesota Twins
Max Kepler had a good season in 2023, hitting 24 home runs and posting a strong OPS+. The Twins exercised their $10 million club option on him, ensuring that he will be a free agent next year.
Jorge Polanco, 2B, Minnesota Twins
Jorge Polanco has dealt with injuries in the past two seasons but has been productive when healthy. The Twins exercised their $10.5 million club option on him, and they also have a club option on him for the 2025 season.
Declined
Joey Votto, 1B, Reds
The Reds have decided not to pick up Joey Votto’s $20 million team option for 2024. Instead, they will pay his $7 million buyout. Votto had a tough season in 2023, with a .202 batting average and 14 home runs in 65 games. Given his age and recent injuries, he may consider retirement.
Cody Bellinger, OF, Chicago Cubs
Cody Bellinger declined his half of a $25 million option with the Cubs. He will receive a $5 million buyout and become a free agent. Bellinger had a strong season in 2023, with a .307 batting average and is expected to sign a lucrative contract this offseason.
Justin Turner, DH, Red Sox
Justin Turner has declined his $13.4 million player option with the Red Sox. He will receive a $6.7 million buyout and become a free agent. Turner is expected to receive a higher salary on the open market, even though he will turn 39 later this month.
Liam Hendriks, RHP, Chicago White Sox
As expected, the White Sox declined their $15 million club option on Liam Hendriks. He will receive a $15 million buyout, which will be paid out in installments from 2024-2035. Hendriks had Tommy John surgery and will likely miss the entire 2024 season.
Mike Clevinger, RHP, Chicago White Sox
Mike Clevinger declined his half of a $12 million mutual option with the White Sox. He will receive a $4 million buyout and become a free agent. Clevinger had a solid 2023 season, with a 3.77 ERA and 3.3 WAR in 131 1/3 innings.
Seth Lugo, RHP, San Diego Padres
Seth Lugo declined his $7.5 million player option with the Padres. He had a good season, with a 3.57 ERA and a 3.89 strikeout-to-walk ratio.
Lance Lynn, RHP, Los Angeles Dodgers
The Dodgers declined their $18 million option on Lance Lynn. Lynn will receive a $1 million buyout. He had a tough season, with a 5.73 ERA and a 2.85 strikeout-to-walk ratio.
Whit Merrifield, 2B/LF, Toronto Blue Jays
Whit Merrifield and the Blue Jays declined their portions of an $18 million mutual option. Merrifield will receive a $500,000 buyout. He made his third All-Star Game in 2023.
Jorge Soler, OF, Miami Marlins
Jorge Soler declined his $13 million player option. He had a great offensive season in 2023, with 36 home runs and a 128 OPS+. He is now considered one of the top designated hitter options in the free-agent market.
