This story was excerpted from Daniel Kramer's Mariners Beat newsletter. To read the full newsletter, click here. And subscribe to get it regularly in your inbox.
SEATTLE -- The major domino of the Mariners’ offseason was also the first to drop in the entire sport, with Josh Naylor returning on a five-year, $92.5 million contract that was locked up over two weeks ago. As such, Seattle crossed off the most notable item on its winter shopping list, and well before the holiday season began.
But now that the Hot Stove season is in full swing -- and with the Winter Meetings in Orlando looming this coming Monday-Wednesday -- the time could be ripe for more movement.
"The fact that we got it done in mid-November allows us to go have an offseason that doesn't feel like you're drinking from a fire hose,” said president of baseball operations Jerry Dipoto. “Now, we can be selective in the things we want to do, and adding other players and filling holes we still feel like we need to fill -- we weren't going to do anything until we knew that Josh was back in the fold.”
Club needs
The Mariners are in the market for at least one bat, if not two, and multiple relievers -- preferably a lefty option to pair with Gabe Speier and a higher-leverage arm that the club clearly could’ve used in the playoffs to go with Andrés Muñoz, Matt Brash and Eduard Bazardo.
Each of the club’s three non-tendered players -- Gregory Santos, Tayler Saucedo and Trent Thornton -- were relievers, though only Thornton had a meaningful role in 2025 before suffering a season-ending Achilles injury. It’s possible that the Mariners look to another unheralded arm in Spring Training, much like they did with Paul Sewald, Justin Topa and Speier earlier in this era. But the club is also a few years removed from those success stories, and a more proven option might be the more palatable route.
As for available bats, reunions with veteran infielders Jorge Polanco and Eugenio Suárez are still possible, as both free agents remain unsigned. Yet the Mariners have far more in-house options to address those positions -- albeit, potentially less impactful players such as Ryan Bliss, Leo Rivas, Cole Young and Ben Williamson. Each among that group is expected to contribute in 2026, but how remains a key question heading into the new year.
Potential trade candidates
This isn’t nearly as obvious as it's been in recent offseasons, as it seems clear that the Mariners will retain most of the nucleus from their American League West title run in 2025.
They’ve been adamant about not trading from their rotation, despite heavy interest last year in Luis Castillo and Bryce Miller. And the injury hits that the group -- Miller, George Kirby, Logan Gilbert and Bryan Woo -- absorbed in 2025 offered a reminder to the extreme value of starting pitching depth.
They do boast MLB Pipeline’s No. 3-ranked farm system and have shown they’re willing to deal from that group. But this is the time of year where it’s far more challenging to find an ideal match, as most teams are looking to buy Major League talent on the trade market, not sell.
Dipoto and general manager Justin Hollander typically get creative in this area, meaning that an unexpected move is always a possibility. But on paper, no notable player in the organization seems obvious to be moved heading into the Meetings.
Prospect to know: INF Colt Emerson
If he’s not already, Seattle’s No. 1 prospect and MLB Pipeline’s No. 9 overall will be the talk of the organization leading into spring, given his rapid rise through three Minor League affiliates last season and that Dipoto and Hollander will put up no guardrails on the 20-year-old in camp. The Mariners had a similar sentiment leading into 2022 with Julio Rodríguez, and he wound up playing his way onto the Opening Day roster.
Emerson has all the makings to be a legitimate big leaguer -- plus defense that can stick at shortstop, elite contact skills, above-average power for an infielder and impressive leadership for his age. It’s not a matter of if he’ll impact the 2026 roster, but when.
Rule 5 Draft
The Mariners didn’t leave any notable players exposed this year, and they’ve typically always been active in the Rule 5 Draft. The only conundrum this winter could be that they’re operating with a full 40-man roster.
Burning question: Will they make a move in Orlando?
The Mariners in recent years have either been incredibly active at the Meetings or mostly stood pat, an approach rooted in where they are competitively with their projected roster. With a few notable needs, albeit none nearly as paramount as bringing back Naylor, this could be a time for Dipoto and Hollander to make headway on filling out the rest of the roster.