#contract-options

#contract-options

Right-hander Shane Bieber made the surprising call to exercise his $16MM player option with the Blue Jays rather than take a $4MM buyout and head into free agency yesterday. It's a move that leaves the Toronto rotation in much better shape than previously anticipated headed into free agency, as Bieber will now join Kevin Gausman, Trey Yesavage, and Jose Berrios in the club's 2026 rotation.

The Reds enter the offseason likely to seek bullpen help and multiple upgrades within the lineup, but they won't have an especially lofty budget for achieving those goals. President of baseball operations Nick Krall said Tuesday that 2026's budget "will be around the same as our payroll from 2025" ( link via C. Trent Rosecrans of The Athletic). Cincinnati opened the 2025 season with a roughly $112MM payroll and finished around $116MM, per Cot's Contracts.

The Mariners exercised their $6MM club option on Andres Munoz's services for the 2026 season, according to reporter Francys Romero. The total value of the option is actually $7MM, as Munoz unlocked four $250K bonuses based on his number of games finished in 2025. There was zero suspense in the Mariners' decision, as Munoz has become one of baseball's top closers. An All-Star in each of the past two seasons, Munoz posted a 1.73 ERA and 32.7% strikeout rate over 62 1/3 innings while recording 38 saves.

Atlanta Falcons have picked up Drake London's 2026 option, ensuring a $16.82 million guarantee for him next year as he becomes critical in their development of quarterback Michael Penix Jr.