7 storylines to watch as the Hot Stove ignites

While the smell of champagne is likely still lingering in the Brewers' clubhouse at Tropicana Field, the baseball world is already looking ahead to another busy offseason.

Twenty-eight other teams have been formulating plans to put themselves in position to be where the Brewers and Rays were this week: the World Series.

The Collective Bargaining Agreement will surely be in the headlines as it heads toward its Dec. 1 expiration date. Five years ago, in the days leading up to the expiration of the previous CBA, we saw a number of big name free agents -- including Corey Seager, Max Scherzer, and Kevin Gausman -- sign multi-year contracts. It remains to be seen if we’ll have a similar slew of signings in late November.

With that in mind, here are seven storylines to watch as the Hot Stove ignites in the coming days:

The Skubal Sweepstakes

There is no bigger name on the free-agent market than Tarik Skubal, the two-time American League Cy Young winner who posted another excellent season in 2026 with the Tigers and Dodgers.

Skubal is 50-20 with a 2.47 ERA in 103 starts since 2023, when he returned midseason following 2022 elbow surgery. The left-hander had another elbow issue this season that required a novel NanoScope surgery, but it didn’t take long for him to look like his old self after returning from that procedure.

The largest pitching contract in history is Yoshinobu Yamamoto’s 12-year, $325 million deal with the Dodgers, while Scherzer and Justin Verlander hold the record for average annual value for a pitcher at $43.33 million. Skubal should surpass the first and challenge the second. The Mets, Dodgers, Tigers, Blue Jays and Cubs are expected to be among the suitors for the soon-to-be 30-year-old.

Qualifying offer decisions

This year’s qualifying offer is set at $23.15 million, up from $22.025 million a year ago. Players who were traded during the season including Skubal, Clay Holmes, Freddy Peralta and Luis Arraez are not eligible to receive a QO, but several teams will have interesting decisions regarding offering one to their free agents.

Randy Arozarena and Seiya Suzuki are almost certain to receive (and reject) a QO, while Ryan Jeffers, Brandon Lowe, Trevor Rogers, Adrian Morejon and David Bednar will give their respective clubs something to think about. Jazz Chisholm Jr. could be another interesting decision, though there have been reports that the Yankees don’t plan on extending him a QO.

Free agents who have received a QO in the past including Michael King, Sonny Gray, Nick Martinez, Gleyber Torres, Shota Imanaga, Trent Grisham, Brandon Woodruff and Zac Gallen, are ineligible to receive another.

Options on deck

All player, club and mutual options must be exercised or declined by five days after the World Series, so we have been gaining more clarity on the entire free-agent market in recent days.

Holmes and King opted out of their current deals to test free agency, while Bo Bichette, Tatsuya Imai, Corbin Burnes and Ryan Helsley decided to remain with their current clubs.

Mutual options are rarely exercised by both sides -- Aramis Ramirez of the Cubs was the last one to return on a mutual option in 2014 -- so Gray and Michael Soroka are among others to hit free agency.

As far as club options go, the Rays picked up a $20 million option on Drew Rasmussen, the Marlins kept Sandy Alcantara for $21 million and the Braves exercised their options on Ronald Acuña Jr. ($17 million) and Ozzie Albies ($7 million). The Padres declined a $14 million option on Nick Pivetta, making him a free agent. Other club options to watch include the Tigers’ Drew Anderson ($10 million) and the Blue Jays’ Myles Straw ($8 million).

Pitching in

Skubal may be the marquee free agent this winter, but there are a number of other quality starting pitchers expected to hit the open market.

King opted out of the final two years of his deal with the Padres, while Holmes, Peralta, Trevor Rogers, Gray, Foster Griffin, Martinez, Imanaga, Tyler Mahle, Shane Bieber, Casey Mize and Robbie Ray are also among those headed for free agency.

Although a number of clubs will be seeking rotation help, no team has a bigger need for starting pitching than the Cubs, who face the loss of potential free agents Imanaga, Holmes, Gausman (a free agent who has hinted at retirement), Matthew Boyd and David Peterson.

The Giants, Tigers, Mets, Braves, Padres, Orioles, White Sox and Athletics should also be active in the starting pitching market.

The next Murakami?

Munetaka Murakami made an immediate impact during his first year with the White Sox, and now another Japanese star is headed to the Majors.

Teruaki Sato, the 2025 Central League Most Valuable Player who won the league’s Triple Crown this past season, is expected to be posted by the Hanshin Tigers. Sato, who will be entering his age-28 season in 2027, can play both third base and right field, though his bat is what will draw Major League clubs to him in free agency.

Sato’s strikeout numbers -- he has 909 career K's in 3,313 plate appearances in Nippon Professional Baseball -- are somewhat alarming, but so was Murakami’s when he made the move to the Majors last year. In a market relatively thin on impact hitters, Sato will be a very interesting free agent to watch once he’s posted.

Trade winds

Free agency isn’t the only way to improve a club, and when executives gather in Las Vegas for the annual general managers meetings (Nov. 9-11), you can be sure there will be plenty of trade talks taking place.

Last winter, we saw the Mets acquire Peralta from the Brewers and swap Brandon Nimmo for Marcus Semien with the Rangers. The Pirates traded for Brandon Lowe, the Rangers dealt for MacKenzie Gore, the Red Sox acquired Gray and Willson Contreras, the Cubs added Edward Cabrera, and the Orioles dealt for both Shane Baz and Taylor Ward. Expect more of the same this offseason.

Some players whose names were mentioned leading up to this summer’s Trade Deadline -- C.J. Abrams, Steven Kwan, Joe Ryan, Zach Neto and Jeremy Peña, for example -- will likely be revisited. Could the Mariners look to move one of their starters -- Logan Gilbert, perhaps -- to bolster the offense? Will the Cubs try to deal Matt Shaw to add starting pitching? Could change-of-scenery candidates such as Mark Vientos or Jarren Duran be moved elsewhere?

Closing time

For teams seeking late-inning bullpen help, there’s good news: This free-agent market is chock full of options.

David Bednar, Morejon, Pete Fairbanks, Raisel Iglesias, Bryan Abreu, Jason Adam, Jose Alvarado, Alex Vesia, JoJo Romero and Steven Okert are all free agents, offering a blend of proven closers and effective setup men for bullpen-needy clubs.