MLB Winter Meetings: Live updates, rumors, news, analysis as Kyle Schwarber returns to Phillies on record deal

After a painfully quiet Monday, will we see more action Tuesday?

Major League Baseball's Winter Meetings continue on Tuesday in Orlando, Fla., and kicked off with a bang as free-agent slugger Kyle Schwarber has agreed to a return to the Phillies on a record five-year, $150 million contract.

The first day featured few moves, but plenty of interesting rumors.

Other than Schwarber, none of CBS Sports' top 10 free agents have signed, though No. 11 Dylan Cease (Blue Jays) and No. 19 Devin Williams (Mets) have put pen to paper. As did No. 50 Steven Matz, who reportedly agreed to a two-year pact with the Rays late on Monday night, making his signing (so far) the most notable transaction of these Meetings.

Elsewhere, the trade market is picking up steam. The Diamondbacks are reportedly listening to offers for second baseman Ketel Marte and the Nationals are doing the same for both left-hander MacKenzie Gore and shortstop CJ Abrams. The Padres, for their part, are reportedly open to moving right-handed starter Nick Pivetta following the best season of his career.

If nothing else, Tuesday will feature this year's Draft Lottery, determining who will make the first six selections next summer. UCLA shortstop Roch Cholowsky is considered the early favorite to go No. 1.

Here are our top 50 free agents and our top 25 trade candidates.

See below for CBS Sports MLB experts' updates and analysis from all the hot stove happenings Tuesday at the Winter Meetings.

[Dec 9, 2025 at 1:04 pm ET · R.J. Anderson]

The Mets lost one of their notable free agents earlier today, when closer Edwin Díaz joined the Dodgers. Might first baseman Pete Alonso be next?

If so, it could be because the Mets are unwilling to give Alonso the length of contact he seeks. Indeed, the Mets are said to be hesitant to go beyond three years with Alonso, per MLB.com. 

Alonso is drawing interest from other teams, including the Orioles and Red Sox, and is expected to meet with those clubs today at the Winter Meetings.

[Dec 9, 2025 at 12:28 pm ET · Mike Axisa]

Besides Kyle Schwarber and the Phillies, that is. I'll start with Pete Alonso, free agency's other top home run hitter, who is said to be drawing interest from some of the same teams that were in on Schwarber. That includes the Mets and Red Sox, and possibly even the Phillies. There was a very small chance Alonso and Schwarber would trade places this offseason, with Alonso going to the Phillies and Schwarber going to the Mets. That chance may have only been 1%, but 1% is not 0%. Alas and alack, it won't happen.

Alex Bregman, perhaps the offseason's most well-rounded free agent position player, also figures to benefit, because, again, there was said to be overlap between his market and Schwarber's (Mets, Red Sox, etc.). Now that those clubs know Schwarber is off the table and they'll have to spend their free-agent dollars elsewhere, Bregman's market will pick up. Basically, Schwarber is the first big domino to fall. Expect things to pick up with Alonso, Bregman, Bo Bichette, Kyle Tucker, and the other top free-agent hitters.

[Dec 9, 2025 at 12:23 pm ET · R.J. Anderson]

The Phillies may have scratched the top item off their to-do list, but they still have plenty of other business to conduct over the coming days. 

Foremost, they have to figure out if a reunion with catcher J.T. Realmuto is possible. Realmuto had a career-worst showing at the plate last season, but it's tough to find catching and he's familiar with the Phillies staff. Both sides have publicly indicated they'd be interested in sticking together.

Additionally, the Phillies have acknowledged they're looking to trade outfielder Nick Castellanos. He too had a career-worst season in 2025. To make matters worse, he criticized manager Rob Thomson through the press late in the year, raising eyebrows in the process. 

That's without taking into account how the Phillies work top prospects Justin Crawford and Aidan Miller onto the roster. Might they move incumbent third baseman Alec Bohm? Some of the other front offices I've talked to believe that's a possibility, even if it hasn't yet become a reality. 

[Dec 9, 2025 at 12:03 pm ET · R.J. Anderson]

The Phillies have announced an extension with manager Rob Thomson through the 2027 season. He was previously under contract through 2026, making this a one-year extension.

Thomson, Philadelphia's manager since June 2022, has won 58% of his regular season games. He's guided the Phillies to the playoffs in each of the past four years. That includes their pennant-winning run in 2022. 

[Dec 9, 2025 at 11:46 am ET · Mike Axisa]

Teams are calling the Mets about lefty starter David Peterson, reports The Athletic. New York is actively listening to offers for their starters, particularly Kodai Senga, while also exploring the market for top of the rotation upgrades.

Peterson, 31, is one year away from free agency. He made 30 start and threw 168 ⅔ innings with a 4.22 ERA in 2025, though, like the Mets themselves, Peterson collapsed late. He had a 3.06 ERA in 18 starts before the All-Star break and 6.34 ERA in 12 starts after the All-Star break. Still, more than a few teams figure to believe they can get Peterson to pitch more consistently like the guy he was in the first half this past season (and in 2024), and are willing to roll the dice.

[Dec 9, 2025 at 11:23 am ET · Mike Axisa]

The two-time World Series champions are adding one of the game's best closers. The Dodgers and Edwin Díaz have agreed to a three-year, $69 million contract, according to ESPN.

Los Angeles had closer problems all season in 2025, with Tanner Scott, last year's big free-agent pickup, struggling with home runs. The club leaned on Roki Sasaki in the ninth inning in the postseason, and, when push came to shove in Game 7 of the World Series, Yoshinobu Yamamoto was on the mound to finish things off. Díaz gives the Dodgers a steadier hand in the ninth inning.

The Mets, Díaz's former team, signed Devin Williams to a three-year deal worth $51 million earlier this offseason. He'll presumably take over the reins in the ninth inning.

Edwin Díaz signing with Dodgers: World Series champions land top closer on three-year, $69 million contract

Mike Axisa

[Dec 9, 2025 at 11:21 am ET · Mike Axisa]

The first major free agent hitter domino has fallen. Kyle Schwarber and the Phillies are finalizing a five-year contract worth $150 million, CBS Sports has confirmed. The 56-homer man will return to Philadelphia and continue to anchor the lineup alongside Bryce Harper.

Schwarber, 33 in March, led baseball with 132 RBI in 2025 and finished second to Shohei Ohtani in the NL MVP race. He's averaged 47 home runs during his four seasons with the Phillies, and, since 2021, only Aaron Judge (249) and Ohtani (233) have more homers than Schwarber (219).

The Mets, Orioles, Pirates, and Red Sox were among the other teams reportedly in the mix for Schwarber.

Kyle Schwarber re-signing with Phillies: Slugger headed back on record five-year, $150 million contract

Dayn Perry

[Dec 9, 2025 at 10:57 am ET · R.J. Anderson]

The Braves are reluctant to sign a free agent this winter who requires draft-pick compensation, according to the New York Post. 

The Braves would have to sacrifice their second highest selection in order to sign someone like Edwin Díaz. That's not something the Braves are likely to do after gaining an additional top-30 selection as part of catcher Drake Baldwin's Rookie of the Year victory. 

Rather, the Braves are more likely to shift their focus down the market in their hunt for pitching help -- perhaps to someone like former Padres reliever Robert Suarez.

[Dec 9, 2025 at 10:53 am ET · R.J. Anderson]

The Dodgers and Blue Jays have joined the Mets in the chase for star closer Edwin Díaz, per the New York Post. 

The Dodgers could use a late-inning lift after Tanner Scott's down first year in Los Angeles. The Dodgers' bullpen happened to be their biggest flaw, though it didn't prevent them from becoming MLB's first repeat World Series champions in more than two decades. The Blue Jays, for their part, have been connected to several other relievers, including Pete Fairbanks and Robert Suarez, both of whom remain free agents.

The Mets have already added one key reliever this winter, signing former Yankee Devin Williams to a multi-year pact.

[Dec 9, 2025 at 10:33 am ET · R.J. Anderson]

Veteran infielder Jorge Polanco is expected to sign during the Winter Meetings, per ESPN. Polanco is coming off a strong rebound season with the Mariners, including a good run during October. Seattle is among the clubs who have been connected to him this winter. 

CBS Sports ranked Polanco as the 29th best free agent out there this winter, writing:

Polanco recovered from a down season by swinging harder and pulling the ball more frequently. That combination resulted in both the second-highest home run tally and slugging percentage of his career. He's lost a step over the years on account of aging and knee surgery, meaning he's a substandard defensive second baseman. Polanco is also unlikely to repeat this year's offensive output. Still, a team seeking above-average offense could do worse than him.

[Dec 9, 2025 at 10:23 am ET · R.J. Anderson]

Free-agent infielder Bo Bichette recently had a Zoom call with the Red Sox, per Ari Alexander. The Red Sox are known to be casting a wide net for infielders, though their reported preference is to reunite with Alex Bregman. 

[Dec 9, 2025 at 9:35 am ET · R.J. Anderson]

The Astros are known to be pursuing starting pitching in any potential trades. That includes the possibility of moving outfielder Jake Meyers and, perhaps, third baseman Isaac Paredes, who was made redundant by last summer's Carlos Correa trade. (The Astros also have Jeremy Peña at shortstop; Jose Altuve at least some of the time at second base; and Christian Walker at first base, giving them a full infield.)

In turn, the Astros have several young arms on their radar. That group includes two Red Sox arms, in Payton Tolle and Connelly Early, and Pirates right-hander Mike Burrows, per The Athletic.

The Athletic adds that the Red Sox are still prioritizing retaining free agent Alex Bregman. Paredes, though, is viewed as a legitimate backup plan in the event Bregman signs elsewhere. (It's worth noting the Red Sox have already leveraged their supply of young pitching once this winter to obtain veteran right-hander Sonny Gray.)

The Astros, for their part, have publicly pushed back against the idea of trading Paredes. 

[Dec 9, 2025 at 9:30 am ET · R.J. Anderson]

Padres chairman John Seidler told reporters (including the San Diego Union-Tribune) on Monday that he anticipates the club's payroll to remain around the level it was last season -- or between $210 and $220 million, based on their Opening Day and end-of-season figures.

"We anticipate payroll will remain at a similar level to last year," Seidler said. "We're operating the club as we have for the last five or six years."

Public estimates, like the one found at Cot's Contracts, have the Padres projected for an Opening Day payroll around $196 million. That would give top executive AJ Preller at least $14 million to spend this winter, though teams often like to keep at least $10 million in reserve for in-season additions. 

The Padres are known to be listening to teams on infielder Jake Cronenworth and right-hander Nick Pivetta as a means of creating more financial wiggle room. Pivetta is coming off a career year but is owed $19 million next season.

The Padres are believed to be in the market for rotation help.

[Dec 9, 2025 at 9:24 am ET · R.J. Anderson]

Veteran utility player Willi Castro is drawing interest from the Braves, Rockies, and Pirates, among others, according to ESPN.

Castro, 28, made his first (and to date) only career All-Star Game in 2024. He fell apart following a deadline trade to the Cubs this past season, however, finishing with an 89 OPS+ that represented his worst mark since 2022. 

Castro's relative youth and defensive versatility make him an intriguing rebound candidate. 

[Dec 9, 2025 at 9:19 am ET · R.J. Anderson]

The Diamondbacks are willing to listen to teams on second baseman Ketel Marte, who ruffled feathers in their clubhouse this past season. Their ask is reportedly high, with a focus on near-ready starting pitchers, yet that isn't keeping clubs from inquiring. Among the teams taking a shot at Marte: the Red Sox, according to The Athletic. 

In the event the Red Sox acquire Marte (and the Boston Globe cites a source downplaying Boston's interest), that would end their attempts at retaining free-agent infielder Alex Bregman.

Other teams believed to have at least checked in on Marte include the Blue Jays, Rays, Mariners, Tigers, and Pirates.