Lorenzen signed a one-year, $8 million contract with the Rockies on Wednesday, Jeff Passan of ESPN.com reports.

Lorenzen's new deal also includes a $9 million club option for the 2027 season. The 34-year-old right-hander took a step back in 2025, accumulating a 4.64 ERA and 1.33 WHIP alongside a 127:39 K:BB across 141.2 innings with the Royals. His chances of improving upon those numbers in 2026 have taken a hit now that he's slated to pitch his home games at Coors Field, but Colorado's weak pitching staff at least makes Lorenzen a safe bet to capture a rotation spot.

The Cubs acquired Cabrera from the Marlins on Wednesday in exchange for Owen Caissie, Cristian Hernandez and Edgardo De Leon, Jeff Passan of ESPN.com reports.

Cabrera experienced a breakthrough in 2025 after lowering his arm slot, finishing the season with a 3.53 ERA, 1.23 WHIP and 150:48 K:BB across 137.2 innings. It was a career-high workload for the righty, and he will remain a major injury risk moving forward, but Cabrera injects some much-needed upside and bat-missing ability into the Cubs' rotation. He is under team control through 2028.

The Reds outrighted Richardson to Triple-A Louisville on Wednesday.

Richardson is no longer on the 40-man roster but will remain in the organization after passing through waivers unclaimed. The right-hander finished 2025 with a 4.54 ERA, 1.54 WHIP and 30:21 K:BB across 37.2 regular-season innings for Cincinnati.

The Cardinals designated Kent for assignment Tuesday.

The move clears a spot on the 40-man roster for the addition of Justin Bruihl, who was acquired via trade. Kent was a waiver claim by the Cardinals in December and will now go through the waivers process again. The righty reliever posted a 4.58 ERA and 16:8 K:BB over 17.2 innings for the Guardians in 2025.

The Giants signed Mahle to a one-year contract Wednesday, Mark Feinsand of MLB.com reports.

Shoulder issues limited Mahle to 16 starts and 86.2 innings in 2025 with the Rangers, but he was able to collect a 2.18 ERA, 1.13 WHIP and 66:29 K:BB. The 31-year-old right-hander has not reached 20 starts in the majors since 2022 and his strikeout rate the last two seasons sits at just 18.9 percent, but he is a worthwhile roll of the dice on a one-year deal and will benefit from spacious Oracle Park as his new home.

The Reds designated Richardson for assignment Saturday, Gordon Wittenmyer of The Cincinnati Enquirer reports.

Following the Reds' acquisition of outfielder Dane Myers (knee) from Miami on Saturday, Richardson will end up as the roster casualty necessary to create space on the 40-man. The 25-year-old reliever finished 2025 with a 4.54 ERA, 1.54 WHIP and 30:21 K:BB across 37.2 regular-season innings. However, his 4.06 FIP indicates that he performed slightly better than what his base stats suggest, and there's a chance another team in need of bullpen depth claims the right-hander off waivers.

Atlanta outrighted Molina to Triple-A Gwinnett on Friday.

Molina was claimed off waivers from the Rockies earlier this month. The 23-year-old right-hander sports an ugly 6.96 ERA, 1.61 WHIP and 65:28 K:BB across 94.1 innings spanning 52 appearances (two starts) over the previous two seasons with Colorado.

The Pirates acquired Montgomery from the Rays on Friday in a three-team trade, Chandler Rome and Ken Rosenthal of The Athletic report.

Montgomery logged a 5.67 ERA and walked 27 over 46 innings with the Rays in 2025, but he also struck out 63 batters and, at 98.7 mph, has one of the hardest average four-seamer velocities in the game. The lefty has past starting experience, but the Pirates are likely to keep Montgomery in the bullpen, and he could work his way into high-leverage appearances.

May said Thursday that he currently weighs 220 pounds after pitching the 2025 season at 198-202 pounds, John Denton of MLB.com reports.

May had surgery for an esophagus rupture in 2024, which made it difficult for him to keep weight on. His goal this offseason has been to put that weight back on, and he hopes to be up to 225 pounds by spring training. May's fastball velocity was in the 59th percentile in 2025 after it was routinely in the 90-plus percentile in previous seasons, and it's possible the weight loss had something to do with it. The 28-year-old also noted that his arm is "back to normal" after he finished the season on the injured list with right elbow neuritis. May took a one-year, "prove it" contract from the Cardinals in hopes of bouncing back and reestablishing his market next offseason.

The Phillies signed Keller to a two-year, $22 million contract Wednesday, Matt Gelb of The Athletic reports.

Keller was a full-time reliever for the first time in 2025 with the Cubs and excelled, collecting a 2.07 ERA, 0.96 WHIP and 75:22 K:BB over 69.2 regular-season innings. The Phillies intend to keep him in a bullpen role, though his past starting experience allows for the possibility that he could make some starts, if needed. Keller is in line to help set up for closer Jhoan Duran.