We've yet to see any major deals this offseason, but that's not stopping the rumor mill from churning.
Here’s a look at some of the latest Hot Stove topics making the rounds as the GM Meetings continue.
Padres eyeing big splash under new ownership
The Padres’ extensive free-agent list has left them with some major holes to fill, and after a few years of financial restraint, they are expected to be more aggressive this offseason as their new ownership group looks to make its mark.
MLB Network insider Jon Paul Morosi reported Monday that the Padres are among the most active teams in the starting-pitching market. That should come as no surprise, considering they have nearly an entire rotation to fill. Per Morosi, they’ve already expressed interest in Tarik Skubal, the top starter (and overall player) available.
The Athletic's Dennis Lin (subscription required) hears the Friars also are showing interest in several Japanese stars, including right fielder Seiya Suzuki, corner infielder Teruaki Sato and starter Shota Imanaga.
Reliever Yuki Matsui is the most notable Japanese-born free agent the Padres have signed under general manager A.J. Preller. However, the team has long tried to expand its reach in Japan, courting the likes of Shohei Ohtani, Roki Sasaki and Suzuki in previous free-agent cycles.
Top FA reliever drawing interest as starter
We’ve seen a number of relievers make a successful transition to the rotation in recent years, and Adrian Morejon profiles as someone who could follow that same path. The left-hander came through the Padres’ system as a starting pitcher and features the type of arsenal that starters need to get through a lineup multiple times.
But while Morejon is indeed drawing interest as a starter in free agency, his preference is to remain a reliever, according to a report from The Athletic (subscription required).
Granted, Morejon has a checkered injury history that includes Tommy John surgery in 2021, additional time missed with a left elbow sprain in '23 and a left shoulder issue during the '26 NLDS. So staying in the bullpen could make the most sense for his long-term outlook.
The 27-year-old is also arguably the best reliever available this offseason and should command a sizable contract regardless.
Lowe, Arraez could be targets for Yankees
The Yankees’ plans at second base may not be as settled as they seemed last week.
MLB Network insider Jon Heyman wrote on Nov. 5 (New York Post subscription required) that the Yanks “think they are OK at second with Anthony Volpe and possibly Luis García Jr.” and “are looking at third base and bullpen as main areas of need.”
But it appears the Yankees could take a look at the second-base market after all. Heyman reported Monday that the Bronx Bombers “may still check in on Brandon Lowe and Luis Arraez” to replace Jazz Chisholm Jr., who is unlikely to return after the club declined to extend him a qualifying offer.
Senga generating trade buzz
Will Kodai Senga’s future in the big leagues come as a starter or a reliever? We’ll find out in 2027, but the answer may not come from the Mets.
According to The Athletic (subscription required), multiple teams are interested in trading for the 33-year-old right-hander. He is under contract with New York for $15 million in 2027 and has a $15 million conditional club option for '28 that kicks in if he has Tommy John surgery or a right elbow injury that keeps him on the injured list for at least 130 days. Senga also has a 10-team no-trade list, but the teams on that list have not been disclosed.
After being the Mets’ ace and the NL Rookie of the Year runner-up in 2023, Senga pitched only 118 2/3 innings and made 23 starts along with three IL trips from '24-25. He landed on the IL again early in the 2026 season due to back inflammation and carried an ERA over 10 into late June.
The Mets moved Senga into the bullpen in July and by the following month, he had taken over as the team’s closer. Over the final two months of the season, Senga had a 3.78 ERA through 18 appearances. He struck out 22 batters and walked nine across 16 2/3 frames and converted eight of his nine save opportunities.
Although Senga fared better as a late-inning reliever in 2026, ”his passion resides in the rotation,” Mets manager Andy Green said in September. But his success out of the 'pen will likely expand his trade market this winter.