Anthony Santander and Jack Flaherty have reportedly accepted short-term offers.

With the off-season free agent market developing and spring training approaching next month, Ken Rosenthal and Will Salmon of The Athletic This evening suggests that some of the key free agents still active are weighing the possibility of switching to short-term deals with high average annual values, like the so-called “Boras 4”. Blake Snell, Cody Bellinger, Matt Chapmanand Jordan Montgomery He did so last winter after failing to find the long-term deal he had hoped for in free agency.

Outfielders Per Rosenthal and Sammon Anthony Santander and right handed jack flaherty Now, both men are open to considering that kind of deal. Sammon also confirmed it. previous report Refers to first baseman camp Pete Alonso He offered the Mets a three-year contract that included multiple opt-outs, but it's unclear at this point whether other clubs would accept similar short-term offers.

This is a notable update on the market for all three players. both Santander And Flaherty They were reportedly looking for a five-year deal that could reach the nine-figure range. In particular, according to Santander: I have a contract offer The Blue Jays have been on the table since last week, but considering he's currently seeking a short-term deal, it looks like that offer wasn't something the switch-hitter was interested in accepting. It's easy to imagine that the possibility of signing high-level free agents on short-term deals could open up the market for these players, or persuade teams already connected to them to become more serious about their pursuit.

For example, Flaherty previously Linked to Cubs But there have been suggestions that Chicago (which signed Bellinger to a short-term, opt-out heavy deal last winter) has reservations about the right-hander's asking price. Meanwhile, the Tigers have been linked with both Flaherty and Santander, but remained opportunistic in free agency, signing a one-year deal with the midfielder. Gleyber Torres and Alex Cobb It's about improving the roster without a long-term commitment. Any of these clubs could theoretically be induced to step up their efforts if their target can now consider a short-term deal.

Short-term contracts can be attractive to teams as a way to mitigate the risks associated with certain free agents, but they can still pose complications. The deal struck by Snell and Chapman in San Francisco last winter was a clear success for both parties, but after continuing his dominance in a Giants uniform, Snell signed a lucrative deal in Los Angeles in November, leaving Chapman open for the season back in action with the club. It has been extended. In the long run, not all of these different deals turn out so well. Montgomery's contract with Arizona quickly turned out to be a disaster as the left-hander endured the worst season of his career, was relegated to the bullpen and was shopped by the Diamondbacks this winter as a potential salary drop. Meanwhile, Bellinger had a solid but unremarkable season in Chicago, which led the Cubs to shell out his salary in a trade with the Yankees last month and create an opening for the lineup to add a more impactful bat than him. Kyle Tucker.

Despite these potential downsides, it's easy to see why a club might prefer a short-term contract over one that would see the player enter a declining phase. In the end, the Cubs could still shed most of the money they owe Bellinger in the trade after the 2024 season, and the Diamondbacks could end up doing the same after Montgomery's disastrous campaign. Even though the AAV of that deal may be lower, it would be much more difficult to swing such a deal if both players were engaged in a long-term deal with greater overall guarantees.

For players, there are pros and cons to this approach. Of course, there's the risk that an injury or poor performance could result in him hitting the market at less value than he had on his initial trip through free agency. For Flaherty, who isn't currently encumbered by a Qualifying Offer, signing a short-term deal carries some additional risk. Even a hugely successful season may not ultimately lead to the kind of lucrative long-term contract he wants. He's hoping to, considering he could get the QO tag in the coming offseason. However, for a player who is already tagged QO, like Santander, signing a short-term deal and hitting free agency after another good season could increase his value even further by allowing him to re-enter free agency without future hindrances.

The willingness to consider short-term, high AAV offers should open up the market to some extent for these players, but this should not be taken to mean that a major overhaul is warranted. These high salaries are likely to be an obstacle for clubs in luxury tax territory or experiencing budget crises. As an example, Rosenthal and Sammon suggest that Alonso could seek a deal that would give him an average annual value of $31.1 million to achieve a record AAV for a first baseman. This appears to be speculative on the part of the pair and continues to suggest deferred funding that lowers the associated net present value, but even an AAV in the $25MM to $30MM range is likely to be driven by the vast majority of smaller market clubs and even deep-pocketed deep into luxury tax territory with somewhat lower annual salaries. You may be willing to cover much less than a long-term deal.