The San Francisco Giants should enter free agency with a clear order of operations: strengthen the rotation, rebuild the late-inning bullpen and determine how catcher and outfield additions would fit around their younger players.

The Giants also need a spending plan that accounts for several vacancies. As the Giants’ payroll analysis explained, estimated room below the 2026 luxury-tax threshold did not establish an ownership-approved budget for 2027. Existing commitments and arbitration decisions remain part of the calculation. 

San Francisco has Logan Webb and Landen Roupp as rotation building blocks, but its offseason priorities require more dependable innings around them. Buying pitching while preserving meaningful opportunities for young hitters offers the clearest path toward a stronger roster. 

These rankings weigh need, performance, cost and the opportunity to fill a useful role. Signing outlooks are editorial assessments, not reports of negotiations. Dollar figures identify published valuations, existing contract terms or recent comparables; they are not current asking prices.

Market status checked Oct. 28: Seven players below are pending free agents. Michael King’s availability depends on an opt-out decision, while Nick Martinez has an unresolved mutual option.

Four Targets Who Address the Giants’ Biggest Needs

No. 1: Michael King, RHP

King would give the Giants another established starter capable of handling a substantial workload. That would strengthen the rotation while reducing the pressure to turn every promising young pitcher into an immediate answer.

The San Diego Padres right-hander finished 2026 with a 3.21 ERA and 1.18 WHIP across 185 innings in 32 starts. That combination of effectiveness and availability makes him the strongest overall fit on this list. 

Price outlook: Bleacher Report’s Joel Reuter projected five years and $120 million. That is a published forecast, with the eventual guarantee dependent on competing offers and King’s contract decision. San Francisco would need to fund the remaining pitching work alongside that commitment. 

Signing outlook: Plausible but conditional. King must exercise his opt-out before the Giants can pursue him through free agency. Under existing rules, his previous qualifying offer prevents another one. 

He ranks first because the rotation needs both quality and innings. The Giants should make a serious evaluation without assuming one expensive starter completes the staff.

No. 2: Nick Martinez, RHP

Martinez offers a potentially shorter commitment for a similar immediate need. The Tampa Bay Rays starter posted a 3.10 ERA and 1.09 WHIP across 180 innings in 31 starts.

His command was central to that success: he walked 26 hitters. His 15.1% strikeout rate also cautions against assuming his run prevention would remain unchanged. The Giants’ earlier Martinez evaluation explained why defensive support and realistic projections belong in the discussion. 

Price outlook: His $20 million mutual option supplies an existing contract reference. Merrill Kelly’s two-year, $40 million agreement with the Arizona Diamondbacks provides a recent comparable for an experienced starter, although Martinez’s eventual terms could differ. 

Signing outlook: Relatively practical if the option is declined and the guarantee stays manageable. Entering his age-36 campaign, Martinez would make more sense on a shorter agreement that preserves resources for relief pitching.

He ranks behind King because his lower strikeout production creates a narrower path to sustained success. His workload and possible contract length still make him a strong alternative or complementary rotation addition.

No. 3: Adrian Morejon, LHP

Morejon would address the bullpen’s need for a pitcher capable of escaping trouble with a strikeout. He recorded a 2.83 ERA, 1.08 WHIP and 107 strikeouts in 86 innings for San Diego. 

San Francisco should evaluate him for its most important late-inning assignments, including the opportunity to close. His role should follow the quality of his pitches and matchups, rather than require a fixed inning immediately.

Price outlook: Reuter projected five years and $90 million. That would make Morejon a substantial long-term bullpen investment, with enough cost to affect the rest of the offseason plan. 

Signing outlook: A strong baseball fit with significant conditions. Morejon reported soreness in his nonthrowing right shoulder during the NLDS, making medical review essential. A rejected qualifying offer could add draft compensation to his acquisition cost. 

The Giants should pursue him if the medical evaluation and guarantee support the commitment. They would still need complementary relief help.

No. 4: Freddy Peralta, RHP

Peralta provides another route to an established rotation addition. He finished with a 4.42 ERA and 1.33 WHIP in 169 innings, then offered a more encouraging picture with a 3.25 ERA over 10 regular-season starts after joining Tampa Bay.

The Giants’ Peralta analysis weighed that improvement against his full campaign. His strikeout total dropped to 156 after three consecutive years reaching 200, so San Francisco needs to establish how much of his earlier effectiveness it can project forward. 

Price outlook: The Athletic’s Jim Bowden projected five years and $140 million, according to published coverage of his forecast. That valuation would require confidence in more than a strong finish. 

Signing outlook: Competitive and price-sensitive. Under existing rules, his midseason trade prevented a qualifying offer, removing that particular acquisition penalty. 

Peralta belongs high on the board, but the Giants should compare his projected performance and contract directly with King’s market before deciding where to make their largest rotation commitment.

Five Alternatives as the Market Changes

No. 5: Ryan Jeffers, C

Jeffers would give San Francisco an established offensive option at an unsettled position. The Minnesota Twins catcher hit .256/.353/.461 with 14 home runs in 92 games during 2026. 

Daniel Susac’s recovery from a fractured left kneecap remains part of the Giants’ catching outlook. Jeffers would merit a conversation if the club wants a catcher capable of substantial work alongside its internal options. 

Price outlook: An Oct. 21 On SI market-value analysis cited Spotrac’s estimate of three years and $39.7 million. That supplies a published benchmark, not an agreed price or current demand. 

Signing outlook: Conditional on the catching plan, medical evaluations and qualifying-offer decisions. With Rafael Devers and Bryce Eldridge occupying the first-base and DH picture, the Giants should assess Jeffers primarily for his catching contribution.

He could move higher if Susac’s recovery creates a larger vacancy. If San Francisco trusts its internal catching group, pitching should retain priority.

No. 6: David Bednar, RHP

Bednar would give manager Tony Vitello an experienced ninth-inning option. The New York Yankees right-hander finished with a 2.47 ERA, 35 saves and 76 strikeouts in 69 1/3 innings. His 1.04 WHIP strengthened the case for a meaningful upgrade. 

Price outlook: Premium relief investment. Ryan Helsley’s two-year, $28 million agreement with the Baltimore Orioles provides a recent closer-market reference, although Bednar’s eventual contract could differ substantially. 

Signing outlook: A budget stretch with a clear role. Bednar could carry draft compensation if he rejects a qualifying offer. That expense belongs alongside his salary when comparing him with other relief options. 

The Giants should treat Bednar and Morejon as competing routes to a major bullpen addition. Either could strengthen the late innings, but the club still needs enough pitching around that investment to protect leads throughout a series.

No. 7: JoJo Romero, LHP

Romero offers a less ambitious route to meaningful relief innings. He posted a 3.36 ERA, 1.22 WHIP and 54 strikeouts in 56 1/3 innings between the St. Louis Cardinals and Milwaukee Brewers. 

The Giants’ postseason free-agent watch identified his fit. His value would come from handling setup work and difficult matchups without requiring an automatic closing assignment.

Price outlook: His 2026 salary was $4.26 million. Free agency could produce a larger, multiyear guarantee, so that figure should serve as background rather than a projected signing price. 

Signing outlook: Plausible at suitable terms. His midseason trade prevented a qualifying offer under existing rules, simplifying the acquisition cost compared with some premium alternatives. 

Romero should move up if the leading relievers become too expensive. Signing him would help, but San Francisco should continue looking for another dependable late-inning option.

No. 8: Taylor Clarke, RHP

Clarke fits a narrower assignment: limiting unnecessary traffic in the middle innings. He delivered a 2.96 ERA and 1.00 WHIP across 73 innings for Arizona, allowing 14 walks while striking out 45. 

That control makes him useful, while the limited strikeout production places a boundary on the role. The Giants should evaluate him as a complement to a more overpowering late-inning arm.

Price outlook: Baseball-Reference listed his 2026 contract at $1.55 million. His productive campaign could support a raise, but San Francisco should keep the guarantee aligned with a middle-relief assignment. 

Signing outlook: Plausible if the terms preserve flexibility for larger needs. A short agreement would suit the role, although another club could offer more security.

Clarke ranks below Romero because he offers less strikeout potential. He could become a useful finishing piece once the Giants establish how the rebuilt bullpen will handle its hardest outs.

No. 9: Randal Grichuk, OF

Grichuk would address a specific lineup need against left-handed pitching. He hit .287/.314/.566 overall and .327/.371/.655 against left-handers in 178 plate appearances.

That split supports a role built around matchups alongside San Francisco’s left-handed outfielders. It does not require taking everyday work away from Bo Davidson or another young hitter who earns it. 

Price outlook: The Chicago White Sox signed Grichuk to a one-year, $1.25 million Major League contract in May. His subsequent production could change his market, but the prior agreement provides context for a supporting-player investment. 

Signing outlook: Plausible if he accepts a defined platoon assignment. The Giants’ lower-cost free-agent analysis outlined why a complementary right-handed bat belongs behind pitching in the spending order.

Grichuk should move up only if the price creates an opportunity without restricting the rotation and bullpen work.

King’s opt-out, Martinez’s mutual option, and qualifying-offer decisions are the next developments that could change this ranking. A major rotation signing would shift the remaining budget toward relief pitching; a catching setback could increase Jeffers’ importance. The Giants should keep those alternatives available while directing their largest commitments toward the roster’s hardest vacancies.