2025-26 MLB free agency, trade grades: Offseason analysis

It’s hot stove season! The 2025-26 MLB offseason is officially here, and we have you covered with grades and analysis for every major signing and trade this winter.

Whether it’s a big-money free agent signing that changes the course of your team’s future or a blockbuster trade, we’ll weigh in with what it all means for next season and beyond.

ESPN MLB experts Bradford Doolittle and David Schoenfield will evaluate each move as it happens, so follow along here — this story will continue to be updated. Check back in for the freshest analysis through the start of spring training.

Related links: Tracker | Top 50 free agents

The deal: Five years
Grade: A-

If there was an award for free agent prediction most to likely come true, Josh Naylor returning to the Seattle Mariners would have been the front-runner, so it’s hardly a surprise that this is the first significant signing of the offseason (pending a physical). As soon as the Mariners’ season ended with that heartbreaking loss in Game 7 of the ALCS, the front office made it clear that re-signing Naylor was its top priority. Such public vocalizations at that level are rare — and the Mariners backed them up with a five-year contract.

It’s easy to understand why they wanted Naylor back. The Mariners have been searching for a long-term solution at first base for, oh, going on 20 years — really, since they traded John Olerud in 2004. Ty France gave them a couple solid seasons in 2021 and 2022, but since 2005 only the Pirates’ first basemen have produced a lower OPS than Seattle’s.

Naylor, meanwhile, came over at the trade deadline from Arizona and provided a huge spark down the stretch, hitting .299/.341/.490 with nine home runs and 33 RBIs in 54 games, good for 2.2 WAR. Including his time with the Diamondbacks, he finished at .295/.353/.462 with 20 home runs in 2025. Given the pitcher-friendly nature of T-Mobile Park, it’s not easy to attract free agent hitters to Seattle, but Naylor spoke about how he loves hitting there. The numbers back that up: In 43 career games at T-Mobile, he has hit .304 and slugged .534.

Importantly for a Seattle lineup that is heavy on strikeouts, Naylor is a high-contact hitter in the middle of the order; he finished with the 17th-best strikeout rate among qualified hitters in 2025. Naylor’s entire game is a bit of an oxymoron. He ranks in just the seventh percentile in chase rate but still had a nearly league-average walk rate (46th percentile) with an excellent contact rate. He can’t run (third percentile!) but stole 30 bases in 32 attempts, including 19-for-19 after joining the Mariners. He doesn’t look like he’d be quick in the field, but his Statcast defensive metrics have been above average in each of the past four seasons.

He’s not a star — 3.1 WAR in 2025 was a career high — but he’s a safe, predictable player to bank on for the next few years. This deal runs through his age-33 season, so maybe there’s some risk at the end of the contract, but for a team with World Series aspirations in 2026, the Mariners needed to bring Naylor back. The front office will be happy with this signing and so will Mariners fans. — David Schoenfield