Happy New Year! As the calendar turns to 2024, here’s a friendly reminder that baseball will be played next month in Arizona and Florida, respectively. The MLB Hot Stove season will once again begin to heat up as contenders look to stock up before 2024 MLB Spring Training. Now that Shohei Ohtani and Yoshinobu Yamamoto are off the market, free agency will begin to focus on the “next group” of players available.
Here’s a look at the Top 15 MLB free agents still on the market as we head towards 2024 MLB Spring Training.
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RHP Michael Lorenzen | 2023: DET/PHI | Age: 32
Michael Lorenzen had an interesting 2023 season. The lefty was selected as an American League All-Star representing Detroit where he went 5-7 with a 3.58 ERA for lowly Tigers. Lorenzen was traded to the defending National League Champion Philadelphia Phillies on deadline day and proceeded to throw a no hitter in his Phillies Citizens Bank Park debut. From there, Lorenzen was woefully inconsistent posting a 4-2 record with a 5.51. He made two mop up appearances during the 2023 MLB Postseason.
Welcome to Citizens Bank Park, Michael Lorenzen pic.twitter.com/4PpNBAiXky
— Philadelphia Phillies (@Phillies) August 10, 2023
Lorenzen’s free agent market is likely going to be lukewarm at best. The lefty will be 32-years-old when the season begins and has not shown to be an innings eater throughout his career. In fact, Lorenzen’s best role might very well be as a long reliever where he can give a team 3-4 solid innings. It’s a role he’s held before with Cincinnati.
Potential Contract: 2-years/$24MM
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LHP Aroldis Chapman | 2023: KCR/TEX | Age: 36
Aroldis Chapman had a resurgence in 2023 and concluded the season as a pivotal part of the World Series Champion Texas Rangers. Chapman signed a $3.75MM deal with Kansas City before being traded to Texas at the trade deadline. Even at 35-years-old, Chapman was still able to bring the heat. The lefty averaged 99.6 MPH on his fastball. He ended the season with a 3.09 ERA and a 1.25 WHIP. His base on balls percentage came down slightly from 17.5% in 2022 to 14.5% in 2023.
Chapman will turn 36-years-old by the time the 2024 MLB regular season begins and he certainly has a reputation. However, outside of a poor 2022 with the New York Yankees, Chapman has been a very consistent reliever. He earned Bruce Bochey’s trust in the 2023 MLB Postseason allowing two earned runs in nine appearances for Texas. A lot of contenders could do worse —lookin’ at your Baltimore!— than Chapman as a key piece to their bullpen.
Potential Contract: 2-years/$25MM
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RHP Mike Clevinger | 2023: CHW | Age: 33
Mike Clevinger had a solid 2023 for the Chicago White Sox posting a 9-9 record with a 3.77 ERA in 131.1 innings pitched. In a rare feat for today’s game, Clevinger posted two complete games for the White Sox despite missing about a month with a wrist injury. Clevinger’s August was very good —especially for team that was out of contention— notching a 2-2 record with 2.70 ERA with 29 strikeouts.
The righty is two-years removed from Tommy John Surgery and has seemingly returned to form. He likely played himself into a multi-year contract and would be a good fit for a contender that needs additional pitching.
Potential Contract: 3-years/$45MM
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RHP Jordan Hicks | 2023: STL/TOR | Age: 27
Jordan Hicks had a bounce back year in 2o23 after suffering from elbow injuries in 2021 and 2022, respectively. Hicks finished the season with a 3.29 ERA and a whopping 58.5% ground ball ratio. That’s impressive for a guy that averaged 100.3 MPH last season between St. Louis and Toronto.
Hicks is young and still has an elite arm. That combination should be a win-win for any team that is looking to contend and in need of some serious bullpen power. Hicks can be used in a variety of bullpen roles including as a closer where he has 32 saves in five MLB seasons.
Potential Contract: 4-years/$40MM
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1B/DH Rhys Hoskins | 2023: PHI | Age: 30
Rhys Hoskins missed all of the 2023 season after suffering a torn ACL in the closing days of Spring Training. Hoskins’ absence from the Phillies lineup was evident as the Fightins lacked a consistent right-handed power threat for much of the year. In his six seasons with the Phillies, Hoskins averaged 25 home runs and 70 RBIs.
Hoskins. Franzke. pic.twitter.com/nqzTSNPfgI
— Nick Piccone (@_piccone) October 23, 2022
Like most power hitters, Hoskins can be streaky. He will hit homers and get on base at an incredible clip, but also fall back into being a strikeout machine. However, adding a bat like Hoskins would be a boon for any team that is in need of some power and veteran leadership. Hoskins could use 2024 as a way to bridge himself into a long term deal heading into 2025.
Potential Contract: 1-year/$15MM
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DH J.D. Martinez | 2023: LAD | Age: 36
J.D. Martinez is coming off one of the best years of his career where he slashed .271/.321/.572 with 33 home runs, 103 RBIs, and an .893 OPS for the Los Angeles Dodgers. Martinez was named the starting designated hitter for the 2023 National League All-Star team, his third consecutive All-Star appearance, and helped LA to the NL West division title. Despite being 36-years-old, Martinez’s numbers have not shown much of a decline outside of the 2020 wacky COVID season. Like Rhys Hoskins, Martinez still brings a lot of pop to the designated hitter position and veteran leadership to the club house.
J.D. Martinez sends one out to get the Dodgers on the board pic.twitter.com/WktyywLlUW
— Talkin’ Baseball (@TalkinBaseball_) October 10, 2023
Martinez’s age is the one thing that will likely hamper him during free agency. Despite solid and consistent numbers, Martinez will turn 37-years-old during the 2024 MLB regular season. Teams will certainly be wary of giving an aging player a lengthy contract. That being said, it would be surprising to see Martinez sign for anything less than two-years.
Potential Contract: 2-years/$36MM
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OF/DH Jorge Soler | 2023: MIA | Age: 32
Jorge Soler had an incredible 2023 for the Miami Marlins and helped lead the Fish to a 2023 Postseason appearance. Soler slashed .250/.341/.512 with 36 homers, 75 RBIs, and an .853 OPS enroute to his first All-Star appearance. There was speculation the slugger could be traded at the deadline, however, the Marlins decided to buy, and it paid off with their first MLB Postseason appearance in a non-shortened season in 20-years. In addition to being the Marlins’ designated hitter, Soler played 31 games in the outfield for the Fish.
Jorge Soler’s Dazzling Performance!#MLB #Beisbol pic.twitter.com/aEY19tbg0e
— DarkSouls MLB (@DarkSoulsMLB) December 29, 2023
Like Hoskins and Martinez, Soler will provide any team with significant right-handed power and postseason experience. His ability to play a bit of the outfield and not play horribly gives him the edge over the previous two sluggers. He will turn 32-years-old just prior to the start of the 2024 MLB regular season which should allow for a slightly longer contract.
Potential Contract: 3-years/$42MM
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RHP Marcus Stroman | 2023: CHC | Age: 32
Marcus Stroman SHOULD’VE netted the Chicago Cubs a nice haul at the 2023 MLB trade deadline, however, the Cubbies decided they were still “in it” and held on to the righty. Stroman, a 2023 National League All-Star, was electric through the first half of the 2023 MLB regular season going 9-6 with a 2.96 ERA, 98 strikeouts, and a 1.11 WHIP. He allowed an opponents against batting average of just .205 and threw a now rare complete game shutout. Then the second half arrived, Stroman –like the Cubs– collapsed in the second half going 1-3 in eight starts with an 8.96 ERA and a 1.95 WHIP.
Stroman’s second half struggles likely played himself out of a lengthier contract. However, pitching is at a premium and Stroman has shown the ability to be a solid two or three starter on contending team. That alone will guarantee him at least a two-year deal with a dollar value comparable to Lucas Giolito’s deal with Boston.
Potential Contract: 2-years/$39MM
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LHP Shota Imanaga | 2023: Yokohama | Age: 30
Shota Imanaga, also known as the other free agent Japanese pitching sensation, will certainly receive a lengthy and expensive Major League contract. Unlike Yoshinobu Yamamoto, Imanaga comes to the States during his age 30 season after nearly a decade of professional baseball in Japan. Being left-handed will certainly raise Imanaga’s value a bit. Imanaga’s NPB record comes in at 64-50 with a 3.18 ERA and 1.11 WHIP in just over 1,000 innings pitched. He’s a two-time All-Star, led the Japan Central League in strikeouts in 2021, and twirled a no-hitter in 2022. Imanaga started, and pitched well, in the World Baseball Classic Championship Game win over the United States.
Imanaga isn’t coming Stateside with as much fanfare as Yamamoto and that might be a good thing. Again, starting pitching is hard to come by and it’s even harder to come by a dominant left-handed starting pitcher. Whomever signs Imanaga will owe the Yokohama DeNa Baystars a posting fee.
Potential Contract: $5-years/$100MM
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OF Teoscar Hernandez | 2023: SEA | Age: 31
Teoscar Hernandez is probably the top right-handed hitting, outfield playing, power bat in this free agent class. Hernandez has belted 83 home runs over the past three seasons with Toronto and Seattle, respectively. While his average has come down the past few seasons, he still hit at a .258 clip in 2023 for the postseason bound Mariners. A former two-time Louisville Silver Slugger Award winner and 2021 AL All-Star, Hernandez can provide significant pop from the right side of the plate. The downside to Hernandez is his 29.7% strikeout rate, about 7% higher than the MLB average.
Hernandez’s next home, if he ends up playing somewhere other than Seattle, is going to come down to what club has room for a right-hand hitting outfielder. He could be a candidate for a reunion with the Seattle Mariners or the Toronto Blue Jays. Hernandez just turned 31 years old in October and could be looking for his last long-term contract.
Potential Contract: 4-years/$65MM
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LHP Josh Hader | 2023: SDP | Age: 29
Josh Hader is the best closer in the 2023-24 MLB free agent class and that could be his downfall. Hader has said that he’s locked into the 9th inning closer role and wouldn’t be willing to venture from that. In today’s game, which is based on analytics and matchups, that just doesn’t fly. Now, that doesn’t mean a team won’t take a chance on a lefty that tops out at 100-plus MPH and has 165 saves to his name. But it will greatly diminish the pool of potential clubs that may be willing to sign the 29-year-old.
Hader is going to command the largest contract for a reliever in baseball history based on numbers alone. Any contender without a bonafide closer –lookin’ at you Philadelphia Phillies– will certainly be in the mix for the Maryland native.
Potential Contract: 5-years/$105MM
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3B Matt Chapman | 2023: TOR | Age: 31
Matt Chapman lands as the third best available free agent on this list strictly for his Gold Glove defense. A four-time Gold Glove winner (2018, 2019, 2021, 2023) can literally save games with his defensive prowess. In addition to his Gold Glove awards, Chapman has won two Platinum Gloves (2018, 2019), two Fielding Bible Awards (2018, 2019) and the 2018 Wilson Defensive Player of the Year Award. As a hitter, Chapman has the ability to add some pop from the hot corner. He has eclipsed 20 homer runs in four of his seven MLB seasons including a career high of 36 homers in 2019.
The downside of Chapman is his approach at the plate. A career .240 hitter, Chapman strikes out at a nearly 28% rate which is considerably higher than the MLB average. However, any team that’s looking to protect the hot corner could do worse than a four-time Gold Glove winner. Chapman will be turning 31-years-old in April and is likely looking for his last longer term contract.
Potential Contract: 5-years/$125MM
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LHP Jordan Montgomery | 2023: STL/TEX | Age: 31
Jordan Montgomery had one heck of a year in 2023, beginning the season with the lowly St. Louis Cardinals before being traded to the Texas Rangers and becoming a key cog of their World Series win. Oh, Montgomery pitched well too. He notched a 10-11 record with a 3.20 ERA, 166 strike outs, and a 1.19 WHIP in just under 190 innings pitched. Montgomery shutdown the Houston Astros in the ALCS going 2-0 in three appearances with a 1.29 ERA.
Montgomery makes a ton of sense for a team looking to take the next steps in the postseason. The former 4th round pick of the New York Yankees, Montgomery has pitched 16 postseason games in his seven year Major League career. He’s also well in the biggest market in baseball, New York City. At 31, Montgomery is likely looking for a long term contract to finish out his career.
Potential Contract: 6-years/$150MM
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IF/OF Cody Bellinger | 2023: CHC | Age: 28
No position player did more in 2023 to rehabilitate their standing than Cody Bellinger. Bellinger —who was the 2017 National League Rookie of the Year and 2019 National League MVP with the Los Angeles Dodgers— was non-tendered by LA after two disastrous seasons in 2o21 and 2022, respectively. He returned to form in 2023 with Chicago Cubs slashing .307/.356/.525 with 26 homers, 97 RBIs, and an .881 OPS. Bellinger also his second ever Louisville Silver Slugger Award.
In addition to his reclaimed presence at the plate, Bellinger offers any time some flexibility defensively. He played 84 games in center field and 59 games at first base in 2023 for the Cubs. While he won’t get Shohei Ohtani money, Bellinger is going to get a massive haul in free agency.
Potential Contract: 12-years/$270MM
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LHP Blake Snell | 2023: SDP | Age: 31
Pitching still wins in Major League Baseball which is why Blake Snell is the No. 1 ranked remaining free agent in the 2023-24 class. The 31-year-old is coming off his second Cy Young Award winning season. Snell complied a 14-9 record with a 2.25 ERA, 234 strike outs, and a 1.18 WHIP with the floundering San Diego Padres. In fact, Snell’s performance down the stretch — a 1.35 ERA in his last 23 starts of the season— kept San Diego in the NL Wild Card race until the end.
In addition to the Cy Young Award winning resume, Snell has pitched in 12 postseason games over eight postseason series in his career. Snell is an immediate upgrade for a lot of pitching staffs.
Potential Contract: 8-years/$210MM (likely with opt-outs similar to Yamamoto’s contract)
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