On Thursday, MLB set the qualifying offer for the upcoming offseason at a record-breaking $21.05 million. Kiley McDaniel of ESPN reports that the qualifying offer teams will be able to offer qualified free agents this offseason will be the highest ever.
The qualifying offer is a one-year contract that teams can offer qualified free agents. Teams have five days after the World Series ends to offer it to their qualified players. Players who have never received a qualifying offer and were with the same team for the entire season are eligible. The qualifying offer is calculated by averaging the top 125 salaries in the league. This season, the qualifying offer is $21.05 million which is a $725,000 increase from the $20.325 million offered last season.
The qualifying offer for this offseason will be $21.05 million, per sources.
The figure is calculated as the average of the top 125 salaries in MLB. The QO last offseason was $20.325 million.
Teams have 5 days days after the World Series ends to offer it to qualified players.
— Kiley McDaniel (@kileymcd) October 10, 2024
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This system was implemented as part of the 2012-16 Collective Bargaining Agreement and offers teams draft compensation if a player signs elsewhere. Teams that sign a player who rejected a qualifying offer will lose at least one draft pick as a penalty. Players who accept the qualifying offer are signed through the following season at the predetermined $21.05 million.
MLB Sets Qualifying Offer at $21.05M for 2025
Seven players, including Shohei Ohtani, Cody Bellinger, and Blake Snell, received qualifying offers last season, none of which were accepted. Joc Pederson and Martín Pérez were the last players to accept the one-year offer following the 2022 season. The qualifying offer that season was $19.65 million.
Among the top players who can receive a qualifying offer this season are Juan Soto, Corbin Burnes, Pete Alonso, and Alex Bregman. Also eligible for the one-year deal are free agents-to-be Anthony Santander, Max Fried, Teoscar Hernández, and Willy Adames. But all eight of these players are seeking multi-year contracts and will likely reject the $21.05 million qualifying offer.
Players who might accept a qualifying offer include Sean Manaea, Luis Severino, Christian Walker, Jurickson Profar, Tyler O’Neill, Michael Wacha, Ha-Seong Kim, and Nick Martinez. However, not every eligible free agent will receive a qualifying offer.
The window for qualifying offers to be made and options to be exercised opens five days after the World Series ends. Free agency will also begin five days after the World Series ends. Players who receive a qualifying offer have until mid-November to accept or decline the one-year, $21.05 million offer.
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