MLBTR continues our division by division look at next year’s team/mutual option class with the NL Central. Virtually all of the mutual options will be bought out by one side. Generally, if the team is willing to retain the player at the option price, the player will decline his end in search of a better free agent deal.
Previous installments: player options/opt-outs, NL West, AL West
Chicago Cubs
- Shota Imanaga, LHP (team has three-year, $57MM option covering 2026-28; if they decline, Imanaga has $15MM player option for 2026)
Imanaga signed a somewhat complex four-year, $53MM deal when he made the jump from NPB during the 2023-24 offseason. Next winter, the Cubs need to decide whether to trigger a three-year, $57MM option for the 2026-28 seasons. That’d come with respective salaries of $20MM, $20MM and $17MM. If the Cubs decline their end, Imanaga would be able to decline a $15MM player option for ’26 and test free agency.
It’d almost certainly take an injury for that to happen. Concerns about how Imanaga’s stuff might translate against MLB competition proved unfounded. The southpaw finished fifth in NL Cy Young balloting during his first major league season. He turned in a 2.91 earned run average across 173 1/3 innings, striking out a quarter of opponents against a 4% walk rate. The punchouts haven’t been there through this year’s first five starts, but he takes a 2.22 ERA into tonight’s appearance against the Dodgers. He’s getting whiffs on an excellent 14% of his pitches, so he’ll likely finish off a few more strikeouts moving forward. Imanaga’s deal looks like a bargain, and the Cubs should happily sign up for another three seasons at a $19MM average annual value unless he suffers an injury.
- Colin Rea, RHP ($6MM club option, $750K buyout)
Rea reunited with Craig Counsell in Chicago after the Brewers declined his $5.5MM club option. It actually worked out slightly to his financial benefit. The righty collected a $1MM buyout from Milwaukee and secured a $5MM guarantee with the Cubs. He’s playing this year on a $4.25MM salary and will make at least a $750K buyout on next year’s club option. That’s valued at $6MM, so it’ll be a $5.25MM decision.
The Cubs had Rea work in long relief to begin the season. He has stepped into the rotation since the Justin Steele injury. The 34-year-old righty is out to a strong start, allowing two runs through his first 13 2/3 innings. He has punched out 12 while only allowing one walk in 56 plate appearances. Rea had held a rotation role in Milwaukee for most of last year, posting a 4.29 ERA through a career-high 167 2/3 innings. As a mid-30s swingman with league average whiff rates, he’s never going to break the bank, but the option price is reasonable for a capable #5/6 starter.
- Justin Turner, 3B/DH ($10MM mutual option, $2MM buyout)
Turner’s option is mostly an accounting measure designed to push back $2MM of his $6MM free agent guarantee by a few months. Option buyouts are paid at year’s end, while the money would have been evenly distributed throughout the season had it simply been a $6MM salary. It’s unlikely that the Cubs would want to sign up for a $10MM salary covering Turner’s age-41 campaign even if he repeats his solid 2024 production.
The 17-year big league veteran has posted 11 consecutive above-average offensive seasons since his 2014 breakout with the Dodgers. His power numbers have declined with age, but he put up a strong .354 on-base percentage in 139 games between the Blue Jays and Mariners a year ago. Turner’s start on the North Side hasn’t been good. He’s hitting .147 without an extra-base hit over 14 games. He’s taken six walks against nine strikeouts but will obviously need to make more of a slugging impact.
Cincinnati Reds
- Scott Barlow, RHP ($6.5MM club option, $1MM buyout)
Cincinnati took a buy-low flier on Barlow, a former closer who was released by the Guardians shortly before the playoffs. The righty had fallen quickly down the depth chart in Cleveland. He carried a 3.52 ERA with a 32% strikeout rate into the All-Star Break. Barlow allowed a near-6.00 ERA while striking out just 19% of batters faced in the second half. A fastball that typically sat around 93 MPH had dropped to the 90-91 range.
The early tenure in Cincinnati has been mixed. Barlow has gotten his velocity back, averaging 93 on both his four-seam and sinker. He’s getting whiffs on a huge 15.3% of his offerings, nearly two percentage points above last year’s level. The stuff is certainly more encouraging, but the results haven’t followed. He has a pedestrian 9:6 strikeout-to-walk ratio while allowing five runs on eight hits through 9 1/3 innings. He was limited to a $2.5MM guarantee last offseason. He’ll need a more convincing rebound for Cincinnati to retain him on what amounts to a $5.5MM call.
- Austin Hays, OF ($12MM mutual option, $1MM buyout)
Hays signed for $5MM after being non-tendered by the Phillies. The righty-hitting outfielder has been a capable regular for most of his career, but his production dipped last season while he battled a grueling kidney infection. A Spring Training calf injury delayed his team debut until last week. Hays has been on tear since his return, connecting on three homers while hitting .406 in 34 plate appearances. He has a hit in all seven games, including three straight multi-hit performances against his old teammates in Baltimore over the weekend.
- Brent Suter, LHP ($3MM club option, $250K buyout)
Suter, who grew up in Cincinnati, joined the Reds on a $3MM deal during the 2023-24 offseason. He posted a 3.15 ERA through 65 2/3 innings and signed a $2.25MM extension at the start of last winter. The 35-year-old southpaw is out to a customary start. He has managed 9 2/3 frames of three-run ball despite striking out just four of 38 opponents. Suter’s stuff is never going to jump off the page — he’s sitting in his typical 85-88 MPH range with his fastballs — but he avoids hard contact and is aiming for his seventh straight sub-4.00 ERA showing. Assuming he continues on his usual pace, the Reds should want him back on a $2.75MM decision.
Milwaukee Brewers
- Rhys Hoskins, 1B ($18MM mutual option, $4MM buyout)
Milwaukee made a big investment by their standards in signing Hoskins to a two-year, $34MM contract during the 2023-24 offseason. The longtime Phillies first baseman had missed his walk year after suffering an ACL tear during Spring Training. The Brewers expected Hoskins to recapture his consistently above-average offensive form after a healthy offseason.
That didn’t happen in year one, as he hit a career-worst .214/.303/.419 across 517 plate appearances. Hoskins still managed 26 homers, but the overall offense was essentially league average. It wasn’t attributable to lingering knee discomfort. Hoskins did his best work early in the season, carrying an .813 OPS through the end of May. He hit .203/.285/.395 over the season’s final four months and bypassed an opt-out opportunity.
Hoskins has gotten out to another strong start this year. He’s batting .270 with a trio of homers and what would be a career-low 20% strikeout rate over his first 75 trips to the plate.
- Freddy Peralta, RHP ($8MM club option)
Milwaukee signed Peralta to a $20MM extension just before Spring Training 2020. He was mostly unproven at the time, but it only took one more season before he developed into a top-of-the-rotation starter. This quickly became one of the more team-friendly contracts in baseball. The deal included respective $8MM club options for 2025 and ’26, which would have been Peralta’s first two free agent years had he gone through arbitration.
The 28-year-old righty has been the clear staff ace since Milwaukee traded Corbin Burnes. He posted a sub-4.00 ERA in each of the five guaranteed seasons of the contract. Peralta has rattled off another 28 1/3 frames of 1.91 ERA ball through his first five starts this year. Unless he suffers a significant injury that’d threaten his availability for next season, the Brewers are going to rubber-stamp the option.
- Jose Quintana, LHP ($15MM mutual option, $2MM buyout deferred)
Quintana signed late on a $4.25MM pillow contract after finding a weaker market than he expected. The net present value was actually just under $4MM, as Quintana agreed to defer the $2MM buyout on his ’26 mutual option. The Brewers aren’t going to exercise their end of the $15MM option for what would be the veteran lefty’s age-37 season. It looks like they got great value on the one-year deal, though, as Quintana is coming off a 3.75 ERA showing for the Mets. The late signing delayed his team debut, but he has fired 12 1/3 innings of one-run ball over his first two starts.
- Brandon Woodruff, RHP ($20MM mutual option, $10MM buyout)
Woodruff underwent shoulder surgery late in the 2023 season. The Brewers re-signed him to a backloaded two-year deal with a $17.5MM guarantee. They knew he’d spend all of ’24 rehabbing. They’ve taken his progression carefully and didn’t push him during Spring Training. Woodruff began a minor league rehab stint on April 12. He has made a pair of rehab starts and could be back with the big league team in the next couple weeks.
Note: William Contreras’ arbitration contract contains a $12MM team option for next season. He’s excluded from this list because he’d remain under arbitration control if Milwaukee declines the option, as they did with Devin Williams last offseason.
Pittsburgh Pirates
- None
St. Louis Cardinals
- None