Major League Baseball’s 2026-27 free-agent market opened Monday with Tarik Skubal at the top of a class described as one of the weakest in recent memory — and with a Dec. 1 deadline that could freeze the market before most of it moves. The collective bargaining agreement between the league and the Players Association expires Dec. 1, and a lengthy work stoppage is all but certain until a new deal is reached.

Players became free agents as of Monday, Nov. 2, according to MLB.com’s team-by-team breakdown of every club’s pending losses. Eight players received the one-year, $23.15 million qualifying offer from their incumbent clubs, and the class could thin out further if any of them decide to accept.

Skubal sets the market’s ceiling

Skubal, who won back-to-back American League Cy Young Awards in 2024 and 2025, is expected to command a record-setting contract that could exceed $400 million in total value. The left-hander, who turns 30 this month, went 12-7 with a 2.72 ERA and 186 strikeouts in 158.2 innings across stints with the Detroit Tigers and Los Angeles Dodgers last season. The Dodgers remain the favorite to retain him, though the Mets could make an exception after back-to-back playoff misses.

Chicago’s rotation was anchored by Imanaga (32 starts), Boyd (22), Rea (19), Peterson (15), Gausman (nine) and Holmes (nine), who together accounted for 106 of the club’s 162 starts in 2026. With a large share of payroll coming off the books — the luxury tax payroll is projected to decrease by about $90 million heading into 2027 — Chicago has room to operate in the market. Given Pete Crow-Armstrong’s rise and the fact that Alex Bregman and Dansby Swanson are already under contract, the moment to act is now, meaning the offseason could come down to Skubal-or-bust for Jed Hoyer and the rest of the front office. The White Sox could also make the surprise splash of the winter if Chris Getz and company are willing to issue the record-breaking deal.

A thin class beyond the ace

Beyond Skubal, the class is devoid of superstar talent, especially among position players. After struggling with the Mets following a trade — going 5-9 with a 4.99 ERA — Freddy Peralta rediscovered his form once an August deal sent him to the Tampa Bay Rays, where he posted a 3.25 ERA across 10 regular-season starts and a 2.95 ERA in the playoffs, capturing ALCS MVP honors and establishing himself as a more affordable top-of-the-rotation option. While Tampa Bay picked up Drew Rasmussen’s $20 million club option for 2027, the club risks losing other members of its rotation: Nick Martinez topped the Rays in starts and innings while recording a 3.10 ERA in 2026, and Peralta proved a major addition at the Trade Deadline.

Teruaki Sato is arguably the most compelling bat available despite never having played in the majors: the 27-year-old Yakult Swallows third baseman won the Triple Crown in Japan’s Nippon Professional Baseball league, hitting .306 with 39 home runs and 106 RBI last season. Reliever Adrian Morejon, who received the Padres’ qualifying offer, ranked fourth among relievers in WAR (2.8) and went 9-3 with a 2.83 ERA in 2026. Closers David Bednar (7-3, 2.47 ERA, 35 saves in 39 chances) and Raisel Iglesias (2.55 ERA, 34 saves) headline a thin relief market — Iglesias is the only other upper-tier free-agent closer besides Bednar. If Iglesias departs Atlanta, Robert Suarez would be in line to take over as the Braves’ closer, though Atlanta could look to bring Iglesias back after Suarez dealt with arm issues in 2026. The Yankees, who have not signed a reliever to a big-money contract since 2019, could face significant roster churn with 10 players hitting free agency, including bullpen arm Paul Blackburn; retaining Bednar, 32, who could seek a longer-term deal, would go a long way. Luis Arraez hit .310 with a .765 OPS across stints with San Francisco and Philadelphia.

Other notable names include Boston’s Sonny Gray, who went 18-5 with a 2.72 ERA over 29 starts in 2026 after being acquired from the Cardinals last offseason, along with marginal contributors Kiner-Falefa (1.1 fWAR) and Sandoval (1.3 fWAR). Over the past two seasons, Baltimore’s Rogers stood as the Orioles’ leading pitcher, compiling a 3.16 ERA and 7.3 fWAR across 48 starts. Oakland turned down 2027 club options for both McNeil and Springs: McNeil, acquired in an offseason trade with the Mets, was worth 0.1 fWAR while serving as the club’s regular second baseman, while Springs posted a 6.18 ERA with -0.4 fWAR over 29 starts. Chicago’s Seiya Suzuki produced 113 homers and an .823 OPS over his five-year, $85 million deal with the Cubs. Colorado’s Romano led the Rockies with 11 saves and a 4.21 ERA over 27 games after being released by the Angels in April, while the Pirates’ trade for Lowe was one of the best moves any team made last offseason. San Diego’s free-agent class includes numerous pitchers — Jason Adam, Walker Buehler, Griffin Canning, Lucas Giolito, Michael King, Casey Mize, Nick Pivetta and Robbie Ray among them — with starting pitching appearing to be the Padres’ top priority this winter. Additional names on the market include Clay Holmes, Kaima Tara, Ryan Jeffers, Nick Martinez, Trent Grisham, Ty France and Alec Bohm.

Not every would-be free agent is leaving. The Marlins exercised Sandy Alcantara’s $21 million option for 2027, and Bo Bichette opted into his contract for 2027 after considering a second straight offseason on the market.

The Dec. 1 deadline reshapes the timeline

Free agents can sign a contract any time between now and Dec. 1, but given the uncertainty surrounding the next CBA, teams likely won’t commit to big-money, multi-year deals until a new agreement is finalized — probably sometime in 2027. The owners want a salary cap; the Players Association staunchly rejects one. The market that opened Monday now has less than a month before the current agreement expires.