The MLB offseason typically follows the same pattern each winter. Once the World Series ends and free agency opens, teams will move away from the routine of an eight-month season to rebuild, reset and chart ways to improve for next spring.
This usually leads to a quiet November when some moves will be made. But things tend to heat up as much of the baseball world heads to the winter meetings in December.
This year things developed in a similar way, but it was Toronto Blue Jays and the New York Mets made a splash by completing the signings of Dylan Cease, Cody Ponce and Devin Williams, as well as the trade of Marcus Semien and Brandon Nimmo, ahead of next week's meetings, which take place December 7-10 in Orlando, Florida.
With names like Kyle Tucker, Bo Bichette and Kyle Schwarber Still on the open market and with several players rumored to be available via trade, the 2025 Winter Meetings could see a flurry of activity.
Mark Feinsand of MLB.com wrote Wednesday that he expects Orlando to be “pretty active,” suggesting he “could see the starting pitcher market start to move with pitchers like Michael King and Ranger Suarez.”
With that in mind, here's an update on some of the latest rumors and speculation from baseball's hot stove.
Brewers considering 'knock down door' on Peralta deal
After a regular season in which they posted the best record in baseball and reached the NLCS, Milwaukee Brewers may be open for relocation Freddy Peralta.
Peralta is coming off the best season of his career in which he totaled 204 strikeouts in 176.2 innings with a 2.70 ERA. For his efforts, the 29-year-old earned his second career All-Star title and finished fifth in National League Cy Young voting.
With Peralta only owed $8 million in 2026 (his final season under team control), Rosenthal notes there is “significant” interest in luring the right-hander away from Milwaukee.
While acquiring Peralta would require a “high bar,” the Brewers are actively trading players before they can leave as free agents. Over the past four seasons, we've seen Milwaukee acquire star pitchers Corbin Burns, Josh Hader and Devin Williams, so a precedent has been set for the defending National League Central champions to move on from a pitcher of Peralta's caliber.
Will the Reds be able to get Schwarber?
We need some kind of offensive strike, Cincinnati Reds are targeting one of the most consistent players in baseball: Kyle Schwarber.
While it may not be the most logical decision financially, Schwarber is originally from nearby Middletown, Ohio, and grew up attending games at Great American Ball Park in Cincinnati. He would also provide an immediate boost to a Reds team that sneaked into the 2025 postseason with just three regular starters posting an OPS above .750.
Schwarber is coming off a National League MVP runner-up campaign in which he led the league with 56 homers and 132 RBIs, and in four seasons in Philadelphia, only Aaron Judge hit more than his 187 bigs.
Cincinnati's challenge will be to beat the price Phillies, Mets, Red Sox, Giants and Orioles, all of which reportedly in the mix and traditionally they had higher wages than the Reds.
Did the Twins blow it all the way?
Minnesota Twins were one of the most active teams at this year's trade deadline, bringing in talent from all parts of their roster, including Joan Duran, Carlos Correa, Griffin Jax and Louis Varland. However, Minnesota still has some intriguing pieces they could acquire this offseason if the Twins truly want to make a complete rebuild.
Specifically, Passan and McDaniel reported that Buxton is now willing to waive his no-trade clause—something he was reluctant to do in July.
Buxton has long been one of the most exciting talents in baseball: elite on the field but rarely healthy enough to reach his full potential. 2025 marked only the second time in his career that the soon-to-be 32-year-old played more than 120 games, and the results spoke for themselves.
He hit .264/.327/.551 with 35 homers, 83 RBIs and 24 stolen bases, earning the Silver Slugger Award, his second career all-star nod and a spot on 14 AL MVP ballots.
For teams missing Kyle Tucker, Kyle Schwarber and Cody Bellinger, trading Buxton could be a solid backup option if Minnesota wants to give up the 2012 first overall pick.
On the pitching side, Ryan and Lopez could lead the majority of MLB rotations and spend two more seasons under team control. Passan and McDaniel both gave them a 50 percent chance of being traded.
Both are free agents after the 2027 season, which complicates their market given the looming expiration of the CBA that teams are “considering” in trade discussions.
• The Seattle Mariners have expressed interest in St. Louis Cardinals star Brendan Donovan, according to Adam Jude of the Seattle Mariners. Seattle Times. The Mariners are looking to fill an infield spot this offseason, and while they remain interested in reuniting with Jorge Polanco, the two sides are not close to a deal yet.
• The Arizona Diamondbacks continue to answer phone calls to star second baseman Ketel Marte. USA todayBob Nightengale wrote on Tuesday. For its part, Arizona wants “pitching and more,” with the Red Sox, Tigers and Rays “on the radar.”
