if there was ever a reason for Major League Baseball to introduce a salary cap, this year’s free agent market should be convincing.
A glimpse at the contract values of seven of this year’s highly talented free agent class speaks volumes about a major issue in Major League Baseball.
How can the sport remain competitive when the same few teams consistently sign the highest ranked free agents?
How can the sport survive with a handful of teams skewing the free agent market with contracts that most Major League Baseball owners are unwilling to match?
How does the sport keep the interest in baseball markets that choose to allow their home-grown players to enter free agency when the player’s contract values increase beyond the owner’s comfort level of spending?
As this old scout has said many times, every Major League Baseball owner or ownership group has the ability to handle a $150M payroll.
However, many owners and ownership groups, for their own reasons, choose to maintain a frugal approach to player payroll.
Free Agent Signings:
Seven Major League Baseball franchises have agreed to pay a total of $1,186B to seven 2026 free agents.
The seven players, their new teams, the value of their contracts, and the average annual value of their contracts are as follows:
Kyle Tucker-Los Angeles Dodgers, $240M, with an annual value of $60M
Dylan Cease-Toronto Blue Jays, $210M, with an annual value of $30M
Alex Bregman-Chicago Cubs, $175,M, with an annual value of $35M
Pete Alonso-Baltimore Orioles, $155,M, with an annual value of $31M
Kyle Schwarber-returns to Philadelphia Phillies, $150M, with an annual value of $30M
Ranger Suarez-Boston Red Sox, $130M, with an annual value of $26M
Bo Bichette-New York Mets, $126M, with an annual value of $42M
In early December, Schwarber returned to the Phillies for $150M. Should he have waited a little longer? Players signing in January seemed to have broken the bank.
It is notable that several new teams have ponied up the money to sign star attractions for their rosters.
The Orioles, the Cubs, and the Red Sox have not recently been among the teams that swim in the deep end of the MLB free agent pool.
Still More High Profile Players To Sign:
There are at least two highly regarded, consequential free agents available on the open market.
Left-handed pitcher Framber Valdez remains unsigned.
Outfielder/first baseman Cody Bellinger remains unsigned.
Framber Valdez:
At the age of 32, there has been some evident decline in Valdez’ performance.
At 5-11, 230 pounds, Valdez is a stocky lefty with a good array of pitches.
He finished 2025 at 13-11 with the Houston Astros. He had a 3.66 ERA, which was highly elevated from his 2024 ERA of 2.91.
In his 31 starts last season, Valdez saw his WHIP escalate from 1.10, to 1.24.
While he pitched 23 more innings this past season compared to 2024, Valdez just wasn’t as sharp. He got hit more. He didn’t have that knockout pitch he wanted.
Valdez has pitched his entire career with the Astros.
Cody Bellinger:
The left-handed hitting Bellinger is 30-years-old.
Bellinger is 6-3, 204 pounds.
Much has been written and spoken about the market for Cody Bellinger.
A client of the Boras Corporation, is Bellinger asking for too much money over too many seasons?
Last season Bellinger played 152 games for the Yankees. He made 656 plate appearances, and hit .272/.334/.480/.813, with 25 doubles, five triples, 29 home runs, and 98 RBIs.
Bellinger’s market may include both the Yankees and the Mets, among other suitors.
Other Interesting Free Agents
Four additional free agents stand out. Each awaits a new contract.
1- Zac Gallen-RHSP-Age 30
2- Justin Verlander-RHSP-Age 42 (he turns 43 in February)
3- Max Scherzer-RHSP-Age 41
4- Chris Bassitt-RHSP-Age 36 (he turns 37 in February)
Conclusion:
Some owners have begun to grumble more about a salary cap since the Tucker signing.
While fans may clamor for a salary cap, recent MLB spending on free agents does not indicate any type of appetite to stem the tide of increasing player payrolls in Major League Baseball.