The 2025-26 MLB hot stove was lit just days after the Los Angeles Dodgers hoisted their second consecutive World Series championship trophy.

All eyes this winter are on a free agent hitting class featuring Kyle Tucker, Kyle Schwarber (who is returning to the Phillies on a five-year deal), Cody Bellinger, Alex Bregman and Pete Alonso. But they’re not the only ones who will make a splash in the market.

Which teams will go big to contend for the 2026 World Series title? And who will make the trades and signings that have everyone buzzing?

Below is a running list of notable transactions and updates from throughout the MLB offseason.

Key links: Offseason grades | Top 50 free agents | Fantasy spin | Best fits

Notable MLB offseason transactions

Dec. 9

Closer Edwin Diaz and the Dodgers are in agreement on a three-year, $69 million deal, sources tell ESPN.

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Kyle Schwarber and the Philadelphia Phillies are in agreement on a five-year, $150 million contract, sources told ESPN, reuniting the National League home run leader with the team he has played for the past four seasons.

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Dec. 8

Left-hander Steven Matz and the Tampa Bay Rays are in agreement on a two-year contract, pending physical, sources tell ESPN.

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Free agent pitcher Michael Soroka and the Arizona Diamondbacks are in agreement on a one-year deal, pending a physical, sources tell ESPN.

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Dec. 6

The Washington Nationals traded left-hander Jose Ferrer to the Seattle Mariners for top catching prospect Harry Ford and minor league pitcher Isaac Lyon, the teams announced Saturday.

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Dec. 4

The Boston Red Sox acquired right-hander Johan Oviedo from the Pittsburgh Pirates in a five-player trade that sent heralded outfield prospect Jhostynxon Garcia to Pittsburgh, the teams announced Thursday.

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Dec. 3

Outfielder Cedric Mullins has agreed to a one-year deal with the Tampa Bay Rays, according to multiple reports.

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Free agent closer Emilio Pagan has agreed to return to the Cincinnati Reds on a $20 million, two-year contract, according to multiple reports.

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World Series hero Miguel Rojas is returning to the Dodgers in 2026, for what will be his final season in the major leagues, sources told ESPN. The infielder agreed to terms on a one-year, $5.5 million deal, after which he will be assisting the front office and helping in player development.

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Left-handed reliever Sam Hentges and the San Francisco Giants agreed to a $1.4 million, one-year contract.

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Left-hander Anthony Kay and the Chicago White Sox are in agreement on a two-year, $12 million contract with a club option for a third season, sources told ESPN.

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Dec. 2

Right-hander Cody Ponce, who won KBO MVP honors last season, and the Toronto Blue Jays are in agreement on a three-year, $30 million contract, sources told ESPN

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Former KBO pitcher Ryan Weiss is in agreement with the Houston Astros on a one-year contract that guarantees him $2.6 million, sources told ESPN.

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Right-hander Alek Manoah and the Los Angeles Angels are in agreement on a one-year, $1.95 million contract, a source tells ESPN.

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Dec. 1

Reliever Devin Williams and the New York Mets are in agreement on a three-year contract that guarantees more than $50 million, sources tell ESPN.

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Nov. 29

Closer Ryan Helsley and the Baltimore Orioles agreed on a two-year contract that includes an opt-out after the first season.

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Nov. 26

Right-hander Dylan Cease and the Toronto Blue Jays agreed on a seven-year, $210 million contract.

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Nov. 25

The Boston Red Sox acquired veteran right-hander Sonny Gray in a trade with the St. Louis Cardinals.

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Nov. 23

The New York Mets and Texas Rangers agreed to a trade that would send second baseman Marcus Semien to the Mets and outfielder Brandon Nimmo to the Rangers.

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Nov. 21

The Chicago Cubs and right-handed reliever Phil Maton agreed on a two-year deal.

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The Giants acquired outfielder Joey Wiemer from the Marlins for cash and agreed to terms with right-hander JT Brubaker on a one-year contract.

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The Arizona Diamondbacks agreed to a one-year, $2.75 million deal with veteran catcher James McCann.

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Nov. 19

The Braves re-signed closer Raisel Iglesias to a one-year, $16 million contract.

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The Atlanta Braves acquired Mauricio Dubon from the Houston Astros for Nick Allen in an exchange of infielders.

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Nov. 18

The Baltimore Orioles acquired outfielder Taylor Ward from the Los Angeles Angels in exchange for right-hander Grayson Rodriguez.

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New York Yankees outfielder Trent Grisham, Detroit Tigers infielder Gleyber Torres, Milwaukee Brewers pitcher Brandon Woodruff and Chicago Cubs pitcher Shota Imanaga accepted their qualifying offers, meaning they’ll return to their respective teams in 2026 at salaries of $22.025 million.

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Nov. 17

Reliever Ryan Yarbrough will be back in the Bronx after agreeing to a one-year deal with the New York Yankees.

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Nov. 16

First baseman Josh Naylor and the Seattle Mariners have finalized a five-year, $92.5 million contract that has a full no-trade clause and no deferrals, sources tell ESPN.

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Nov. 4

Chicago Cubs SP Shota Imanaga becomes free agent after team, player reject options for 2026

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Nov. 3

Milwaukee Brewers exercise option on SP Freddy Peralta; SP Brandon Woodruff declines option

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Boston Red Sox 3B Alex Bregman opts out of contract; SP Lucas Giolito declines option

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New York Yankees OF Cody Bellinger declines option

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New York Mets 1B Pete Alonso, RP Edwin Díaz opt out of contracts

Key offseason dates

Nov. 6: Free agency begins at 5 p.m. ET

Nov. 10-13: GM meetings in Las Vegas

Nov. 18-20: Owners meetings in New York

Nov. 18: Deadline to accept or reject qualifying offer

Nov. 21: Non-tender deadline

Dec. 8-10: Winter meetings in Orlando

Dec. 9: MLB draft lottery

Dec. 10: Rule 5 draft

ORLANDO, Fla. — New York Mets manager Carlos Mendoza disputed recent reports of clubhouse issues last season, including a rift between Francisco Lindor and Juan Soto, calling them a “lie” and “wrong” during a news conference at MLB’s winter meetings Monday.

“It’s impressive that nobody talked about our clubhouse and in the last two weeks what we hear is that we were basically fighting every day when it’s completely contrary to the reality,” Mendoza said in Spanish. “It’s a professional clubhouse where the guys respected each other, where the guys came to work and to compete day in and day out.”

Last month, the New York Post reported that Lindor had strong words for second baseman Jeff McNeil after a late-inning defensive mistake against the Philadelphia Phillies on June 20. The incident, confirmed by sources to ESPN, happened in front of teammates in the clubhouse and spawned tension.

The Mets dropped that game in Philadelphia 10-2 for their seventh straight loss. The skid was the beginning of a 3½-month collapse that plummeted the Mets from the best record in baseball to out of the postseason picture despite fielding the second-most expensive roster in the majors.

“What was the difference? We didn’t win baseball games,” Mendoza said. “Nobody talked about our clubhouse for the first 2½ months of the season when we had the best record. Nobody talked about the clubhouse. Two and a half months of bad baseball happened, and so now everyone is talking about the problems. It’s completely a lie. But it’s part of the market. It’s part of what we live with in New York.”

Mendoza also addressed criticism former Mets reliever Adam Ottavino recently levied at him on his “Baseball & Coffee” podcast. Ottavino, who made 60 relief appearances for the 2024 Mets under Mendoza, decried the Mets’ spate of injuries to pitchers, saying Mendoza “has no idea what he’s doing when it comes to bullpen guys and how to keep them healthy or even how to care about them at all.”

Mets relievers ranked third in innings pitched last season. Relievers Reed Garrett, Danny Young, Max Kranick and Dedniel Nunez were among the pitchers lost for the season because of arm injuries. The workload, Mendoza noted, was the product of Mets starters’ inability to pitch deep into games; Mets starters finished 27th in baseball in innings pitched. But Mendoza, who led the Mets to the National League Championship Series as a rookie manager in 2024, insisted he was cautious with reliever usage.

“The facts are right there,” Mendoza said. “We were probably one of the teams that protected the bullpen guys better than anybody. And you’re talking about we were able to do that with so little length that we were getting from the starters. I don’t think this is a Mets issue. I think this is an industry [issue]. This year, we were dealing with a lot of injuries. But like I said, I’m comfortable with the process, too.”

Bolstering the bullpen was a priority for the Mets entering the offseason. The club recently addressed the relief corps by signing Devin Williams to a three-year, $51 million deal. Williams will either close games or serve as a setup man should the Mets re-sign Edwin Diaz. Mets president of baseball operations David Stearns on Monday said other needs include a starting pitcher and an outfielder, though he insisted the door has not closed on a potential reunion with first baseman Pete Alonso.

“As I’ve said all along, he’s a great Met,” Stearns said. “We’d love to have him back.”

PASADENA, Calif. — Shohei Ohtani is catching up with more legends.

The baseball superstar ends 2025 by winning The Associated Press Male Athlete of the Year for the fourth time, tying Lance Armstrong, LeBron James and Tiger Woods for most among male honorees.

“Receiving this award multiple times is something truly special,” Ohtani said in Japanese in an exclusive interview with the AP.

Ohtani received 29 of 47 votes in balloting among sports journalists from the AP and its members after his two-way dominance culminated in a repeat World Series title for his Los Angeles Dodgers — delivering perhaps the greatest single-game individual performance in sports history along the way. He previously won the award in 2024, his first season with the Dodgers, and in 2023 and 2021, when he was with the Los Angeles Angels.

The AP honor has been given out since 1931. Multisport standout Babe Didrikson Zaharias won six times over the 1930s, ’40s and ’50s, the most by a man or woman.

The ultracompetitive Ohtani’s latest win broke a tie with Michael Jordan, who along with Woods, he followed while growing up in Japan.

“Last year, I said I wanted to win this award again, and I will work hard so that I can win it again next year as well,” he said.

Swedish-American pole vaulter Armand Duplantis, who won his third consecutive world title and has set the world record 14 times, including four times in 2025, was second with five votes in balloting announced Tuesday. Carlos Alcaraz, the world’s top-ranked tennis player who won titles at the French and US Opens, was third with four.

The AP Female Athlete of the Year will be announced Wednesday.

Ohtani has shown remarkable consistency since joining the Dodgers on a then-record $700 million, 10-year contract in December 2023. He won his fourth career Most Valuable Player award (second with the Dodgers) by unanimous vote, the first player in major league history to do so.

This year, he posted a 1.014 OPS and hit 55 home runs. Returning to the mound for the first time since 2023, he had a 2.87 ERA and 62 strikeouts in 47 innings over 14 starts.

Ohtani saved his best for the postseason.

In Game 4 of the National League Championship Series against the Milwaukee Brewers, he pitched six scoreless innings with 10 strikeouts and hit three home runs to earn MVP honors. He said it was his greatest game in a career full of incredible feats.

“If you think about it in terms of a single game, I’d say that’s probably true,” Ohtani said. “It was a crucial game in the postseason, and I personally feel I played quite well in that game.”

Does he surprise himself?

“Well, yes, there are times when I feel that way about myself, and of course there are times when I think I’m not good enough,” Ohtani said, “so I suppose athletes experience both kinds of feelings.”

Ohtani showed he’s human in Game 7 of the World Series. He singled in the first inning and then took the mound on short rest, but he struggled with his command. He gave up a three-run homer to Toronto’s Bo Bichette along with five hits in 2⅓ innings.

But he and the Dodgers raised a second straight World Series trophy after outlasting the Blue Jays in the most scintillating Series in recent memory.

“Shohei obviously has the weight of the world on his shoulders as far as expectations, being probably the face of baseball, certainly when you’re talking about the world,” Dodgers manager Dave Roberts said after Game 7. “It’s just really special what he’s done. Just a great person and a great competitor.”

Ohtani’s presence has been transformative for MLB’s global reach. Game 7 of this World Series averaged 13.1 million viewers in Japan, the most watched World Series game on a single network there ever, and 51 million watched worldwide to make it the most viewed since Game 7 of the 1991 World Series.

How does Ohtani keep topping himself?

“I think the higher your goals are, the more you have to do, and the more you want to do,” Ohtani said. “If you’re satisfied with where you are now, I don’t think it’s possible to achieve your goals without putting in the effort. So, setting goals high is what I believe is most important.”

The Dodgers carefully managed Ohtani’s return to pitching this year by gradually increasing his workload after rehabbing from elbow surgery in September 2023. His innings were initially capped before he was allowed to make longer starts as he felt better.

“When it comes to feeling nervous, being on the mound definitely makes me more tense,” Ohtani said. “It’s a position where you can single-handedly ruin a game, and at the same time, it’s also a position where you can contribute to a win. So, in my mind, I feel that being a pitcher is truly a special role.”

At 31, Ohtani has undergone three major surgeries: two on his right elbow and another on his left shoulder. Regardless of the physical and mental wear and tear, he plans on remaining a two-way player his entire career.

“I think it’s best to keep doing it right up until the moment I retire,” Ohtani said.

Winning a third consecutive World Series championship is among Ohtani’s biggest goals in 2026.

“Staying healthy and appearing in every game without injury, that’s the smallest goal I have,” Ohtani said.

Ohtani became a father when his wife, Mamiko Tanaka, gave birth to their daughter in April. He carefully guards against revealing her name and any details about his home life. No word on how his beloved dog Decoy reacted to having a new sibling, either.

Ohtani’s American fans enjoy hearing him speak English on the rare occasions that he has done so publicly, including at both World Series celebrations. He understands most of the language, although he uses an interpreter in interviews.

“I think it would be best if I could speak in English, so even if it’s just small steps, I want to keep working at it,” Ohtani said. “Whether it’s with fans or in different situations, being able to speak directly in English might help bridge the gap between us.”

In the meantime, he’ll keep letting his bat and arm speak volumes.