MLB · 1 year ago

Top 10 MLB Free Agents Who Earned Huge Contract Raises in 2024

Sportsgrid Staff

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Anthony Santander – Baltimore Orioles’ Power Surge
Anthony Santander had already proven himself a solid player, but 2024 saw him reach new heights. Finishing the season with 44 home runs, the Orioles’ slugger ranked third in the entire league. His power helped propel Baltimore’s offense, and he became their second-best hitter behind Adley Rutschman.

Santander made $11.7 million in his final year with Baltimore, but now, at 29 years old, he’s primed for a significant pay raise. His estimated market value is expected to land him a deal north of $100 million, far surpassing expectations a year ago.

For all your MLB deep dives, check out our friends at Just Baseball.
Jeff Hoffman – Reliever with Elite Strikeout Stuff
Jeff Hoffman quietly became one of the most dominant relievers in baseball in 2024. His ability to miss bats, ranking in the top fifth percentile in chase and strikeout rates, solidified his value as a late-inning arm. Hoffman posted a 2.17 ERA and a 0.96 WHIP, excelling in high-leverage situations for the Phillies.

Hoffman made just $2.2 million this past season and is now in line for a significant raise. His market value is projected at around $6-8 million per year, and with the demand for relievers, he’s expected to land a multi-year deal, potentially as a closer or a top-tier setup man.

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Tyler O’Neill – Power Bat with Untapped Potential
Tyler O’Neill’s raw power has always been his calling card, but in 2024, he took his game to another level. The Red Sox outfielder hit 31 home runs with a 48.8% hard-hit rate, both career highs. Despite dealing with injuries, O’Neill managed to put up impressive numbers, which makes him an intriguing free-agent target.

Spotrac projects his value at three years, $50 million, but with his upside, O’Neill could easily secure a fourth year or an AAV closer to $20 million annually. His combination of power and youth makes him a highly sought-after player in the free agent market.

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Luis Severino – Proving He’s Still Got It
Luis Severino’s one-year deal with the Mets proved to be a smart move for both the player and the team. Severino posted a solid 3.91 ERA, showing that while he may no longer be an ace, he’s still a valuable mid-rotation starter.

At just 30 years old, Severino is set to earn a multi-year deal, with Spotrac projecting a four-year, $56 million contract. Given the premium on starting pitching, especially for proven veterans, Severino could command even more, potentially reaching $70 million. His steady performance in 2024 has made him one of the more reliable free agents on the market.
Tanner Scott – Dominant Reliever Ready for a Big Payday
Tanner Scott’s value as a reliable bullpen arm skyrocketed in 2024. After being traded to the Padres at the deadline, Scott finished the season with a 1.75 ERA and continued his excellence in the postseason. His ability to control high-leverage situations has made him one of the most coveted relievers heading into free agency.

Spotrac projects Scott’s market value at four years and $65.5 million, a significant raise from his $5.7 million salary. Given the increasing reliance on bullpens in today’s game, Scott is expected to land one of the largest deals for a reliever this offseason.
Kyle Higashioka – Underrated Catcher Set to Cash In
Kyle Higashioka flew under the radar in 2024, but his consistent performance as a catcher should not be overlooked. He set a career-high with 17 home runs while maintaining his steady defensive presence behind the plate. Despite never playing more than 100 games in a season, Higashioka’s reliability makes him an attractive option in a thin free agent catcher market.

Spotrac’s valuation of a one-year, $1.6 million deal seems low, as the 34-year-old veteran is more likely to secure a two-year deal in the $10 million range, especially for teams looking to solidify their catching depth.
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Teoscar Hernández – Power and Consistency
Teoscar Hernández signed a one-year deal with the Dodgers worth $23.5 million and showed his worth in LA’s star-studded lineup. With a .840 OPS and 33 home runs, Hernández solidified his place among the top outfielders on the free agent market.

Spotrac projects a three-year, $71 million deal, which Hernández has certainly earned after a stellar 2024 season.
Jack Flaherty – Bouncing Back with the Dodgers J
Jack Flaherty’s one-year, $14 million contract with Detroit was his opportunity to prove his worth, and he exceeded expectations. After a mid-season trade to the Dodgers, Flaherty posted a 3.17 ERA and 10.78 K/9, his best numbers since 2019.

With a market value of around $60 million over three years, Flaherty is in prime position to secure a longer-term contract. Given his age, a fourth or fifth year could be on the table.

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Jurickson Profar – A Resurgence in San Diego
After being released by the Rockies, Jurickson Profar found new life back with the Padres. Signing a one-year, $1 million deal, Profar produced career-highs with a .839 OPS and 139 wRC+. His advanced metrics, including a walk rate over 10%, prove his resurgence is no fluke.

As he enters the offseason at 32, Profar is set to earn a substantial raise, with a projected two-year deal worth $25 million.
Sean Manaea – From Prove-It to Ace of the Mets
Sean Manaea’s transformation in 2024 was nothing short of remarkable. Signing a short-term, $14 million deal with the Mets, Manaea emerged as the ace of the staff. His postseason dominance and a regular season marked by a 3.47 ERA and 1.08 WHIP mean the market will be ready to reward him handsomely.

Expected to command around $20-$25 million annually, Manaea will likely decline his player option and secure a multi-year contract.
Anthony Santander – Baltimore Orioles’ Power Surge
Anthony Santander had already proven himself a solid player, but 2024 saw him reach new heights. Finishing the season with 44 home runs, the Orioles’ slugger ranked third in the entire league. His power helped propel Baltimore’s offense, and he became their second-best hitter behind Adley Rutschman.

Santander made $11.7 million in his final year with Baltimore, but now, at 29 years old, he’s primed for a significant pay raise. His estimated market value is expected to land him a deal north of $100 million, far surpassing expectations a year ago.

For all your MLB deep dives, check out our friends at Just Baseball.
Jeff Hoffman – Reliever with Elite Strikeout Stuff
Jeff Hoffman quietly became one of the most dominant relievers in baseball in 2024. His ability to miss bats, ranking in the top fifth percentile in chase and strikeout rates, solidified his value as a late-inning arm. Hoffman posted a 2.17 ERA and a 0.96 WHIP, excelling in high-leverage situations for the Phillies.

Hoffman made just $2.2 million this past season and is now in line for a significant raise. His market value is projected at around $6-8 million per year, and with the demand for relievers, he’s expected to land a multi-year deal, potentially as a closer or a top-tier setup man.

Stay ahead of the game and elevate your sports betting experience with SportsGrid.

Top 10 MLB Free Agents Who Earned Huge Contract Raises in 2024

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