The San Diego Padres made their biggest splash of the offseason on Thursday, reportedly coming to terms on a three-year, $75 million contract to retain hurler Michael King.
King wasn’t the first free agent hurler to agree to a deal this offseason, with the Toronto Blue Jays signing Dylan Cease to a seven-year, $210 million contract, but the biggest difference is that King had a qualifying offer attached to him. Had any other team in the league signed the 30-year-old, they would have had to forfeit a draft pick as compensation.
Similar to King, many of the top remaining free agent pitchers have a qualifying offer attached to them, including Philadelphia Phillies All-Star Ranger Suárez. MLB.com’s Mark Feinsand reported Friday that the free agent pitching market is likely going to take weeks to develop, with Suárez not expected to sign anytime soon.
“Framber Valdez, Ranger Suárez, Tatsuya Imai and Zac Gallen top the list of available starters on the free-agent market. Will King’s signing help break the dam and start a run on deals for starters?” Feinsand wrote. “Valdez, Suárez and Gallen all rejected qualifying offers, making potential suitors subject to Draft pick compensation and other penalties if they sign any of them.
“The qualifying offer may have been a contributing factor in King’s decision to return to San Diego, especially given the structure of his deal. With the asking prices in trades already exorbitant and the cost of free-agent pitching as high as it has ever been, the pitching market could take several more weeks to develop.”
Suárez is projected to sign a massive six-year, $161 million contract, according to Spotrac, but with a qualifying offer attached, teams may not be reaching his desired salary range. With so many teams needing quality pitching, there is no rush for the Phillies’ All-Star to sign right now. Expect Suárez to sign later in the offseason as teams get more desperate.
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