Marlins lock up Alcantara while King and Bichette make contract moves

The Miami Marlins have exercised a $21 million option on Sandy Alcantara, preventing the 31-year-old right-hander from entering free agency this offseason. This decision secures Alcantara’s future with the team through six years of guaranteed pay, totaling $75 million under a contract originally signed in November 2021. By choosing the option over a $2 million buyout, Miami retains a pitcher who went 13-11 with a 3.87 earned run average in 33 starts this year. This season marked his second year returning from Tommy John surgery.

The decision to retain Alcantara came as part of a wider wave of contract finalizations that occurred over the first two days following the World Series. Michael King, another 31-year-old right-hander, joined the free agent pool after declining a $28 million player option with the San Diego Padres. He chose a $5 million buyout instead, ending a deal that had guaranteed him $75 million over three seasons. King posted a 12-10 record and a 3.21 earned run average in 32 starts before the trade deadline moved him to San Diego. He had previously agreed in December to terms that allowed him to exit the contract after one year for $17 million.

Bo Bichette made a different choice, opting to keep his existing agreement with the New York Mets. The 28-year-old shortstop agreed to a $126 million, three-year contract in January that includes a $40 million signing bonus. His deal features $42 million player options for 2027 and 2028. In his first year with New York, Bichette shifted primarily to third base because Francisco Lindor plays shortstop. He hit .260 with 18 home runs and 78 runs batted in during the season.

The Tampa Bay Rays also made moves that affect their roster depth. The AL champions declined mutual options on pitcher Nick Martinez and outfielder Cedric Mullins. Martinez, 36, had a $20 million mutual option with a $4 million buyout. He set career highs with 15 wins and a 3.10 earned run average in 31 starts, earning a first-time All-Star selection. He also made four postseason appearances, including a start in Game 1 of the World Series. Mullins, 32, hit .205 with 15 home runs and 48 runs batted in. His contract included a $10 million mutual option with a $500,000 buyout.

Other notable departures include Sonny Gray from the Boston Red Sox, who received a $5 million buyout in five $1 million installments. Gray, who turns 37 next week, tied for the major league lead with 18 wins and posted a 2.72 earned run average. The Red Sox declined his $30 million option. Meanwhile, the Milwaukee Brewers saw starting pitcher Dustin May go free after he declined a $20 million mutual option in favor of a $500,000 buyout. May started Game 4 of the World Series and went 7-9 with a 4.70 earned run average for the champions.

The Chicago Cubs lost left-hander Matt Boyd and catcher Carson Kelly to free agency after both declined mutual options. Boyd, 35, was a first-time All-Star in 2025 and went 10-5 with a 3.91 earned run average this season. Kelly, 32, will receive a $1.5 million buyout instead of a $7.5 million salary as part of a deal reached in December 2024. He batted .258 with 10 home runs and 58 runs batted in over 120 games.

The free agent count reached 155 within two days of the World Series ending, with King among the 14 new additions on Friday. Approximately 40 more players could join the pool by Monday, which is the deadline for exercising options. Teams continue to evaluate their rosters as they decide whether to retain veterans or release them for smaller buyouts. The market remains active as clubs prepare for the upcoming offseason.

Specific financial details for other players reflect the varying structures of modern baseball contracts. For instance, the Baltimore Orioles declined a $25 million mutual option on Zach Eflin, owing him a $2 million buyout. The right-hander made only one appearance this year on March 31 before undergoing Tommy John surgery on April 8. Similarly, the Minnesota Twins declined a $10 million mutual option on first baseman Josh Bell, who will receive a $1.25 million buyout. Bell hit .255 with 21 home runs and 96 runs batted in during the regular season.