Marlins Lock Alcantara at $75 Million While King Hits the Market

The Miami Marlins spent $21 million on Friday to keep Sandy Alcantara on their payroll, a move that secures the right-hander for the 2026 season and guarantees him $75 million over six years. By exercising the option, Miami avoided a $2 million buyout payment. Alcantara, 31, finished his second year back from Tommy John surgery with a 13-11 record and a 3.87 ERA in 33 starts.

Conversely, the San Diego Padres let Michael King walk. King, also 31, chose a $5 million buyout over a $28 million player option. This decision sends him to the free agent market for the second consecutive offseason. Under the three-year, $75 million contract he signed in December, King could end his deal after one year for $17 million. He finished the season with a 12-10 record and a 3.21 ERA in 32 starts.

King joins Sonny Gray and Nick Martinez as notable starters entering free agency. The Tampa Bay Rays declined mutual options on both Martinez and outfielder Cedric Mullins. Martinez, 36, had a career-high 15 wins and a 3.10 ERA in 31 starts. He also made a first-time All-Star appearance and started Game 1 of the World Series. Martinez’s contract included a $20 million mutual option with a $4 million buyout.

Mullins, 32, posted a .205 batting average with 15 home runs and 21 stolen bases. His one-year deal carried a $10 million mutual option with a $500,000 buyout. The Boston Red Sox also declined a $30 million option on Sonny Gray, who will receive a $5 million buyout paid in five $1 million installments from 2027 to 2031. Gray, who turns 37 next week, tied for the major league lead with 18 wins and posted a career-best 2.72 ERA.

Bo Bichette remained with the New York Mets by exercising his player option. The 28-year-old shortstop, who shifted to third base in New York, hit .260 with 18 home runs and 78 RBIs. His $126 million, three-year contract includes a $40 million signing bonus and $42 million in player options for 2027 and 2028.

The Milwaukee Brewers released Dustin May when he declined a $20 million mutual option in favor of a $500,000 buyout. May started Game 4 of the World Series for the champions. He finished the season with a 7-9 record and a 4.70 ERA in 31 starts. The Chicago Cubs also saw left-hander Matt Boyd and catcher Carson Kelly enter free agency after declining mutual options. Boyd, 35, went 10-5 with a 3.91 ERA this season. Kelly, 32, hit .258 with 10 home runs in 120 games.

Several other clubs made final roster decisions on Friday. The Baltimore Orioles declined a $25 million mutual option on Zach Eflin, who is owed a $2 million buyout. The Minnesota Twins declined options on Josh Bell and Joe Ryan, who will receive buyouts of $1.25 million and $100,000, respectively. The Oakland Athletics declined options on Jeff McNeil and Jeffrey Springs. McNeil will receive a $2 million buyout, while Springs will take a $750,000 buyout.

The Kansas City Royals exercised a $2.5 million club option on right-hander Tony Gonsolin. The 2022 All-Star had four minor league rehab appearances and returned to the major leagues in September. The Houston Astros declined a $5 million team option on Ryan Weiss, who is owed a $500,000 buyout. The Los Angeles Angels declined a $2.5 million option on Robert Stephenson.

King was one of 14 new free agents announced on Friday, raising the total to 155 in the two days following the World Series. Approximately 40 more players may enter the market by Monday, which is the deadline for teams to exercise options.