While the final four teams battle it out for the right to play in the World Series, MLB's other 26 teams are formulating offseason plans to help them become one of the last teams standing in 2027.
Some teams have decisions to make regarding club options, while others must wait until the season is over for players to make similar decisions on the options they control.
Here’s a look at six players (listed alphabetically) whose futures will depend on how those options play out.
Bo Bichette, 3B, Mets
Contract status: $42 million player options for 2027 and 2028 ($5 million buyout for each)
Bichette signed a three-year, $126 million contract with the Mets last season, securing player options for both 2027 and 2028. The $42 million average annual value represents the sixth-highest in history, a huge number for a player whose career WAR was just shy of 20 during his first seven seasons in the Majors.
During his first season with the Mets, Bichette slashed .260/.312/.390 with 18 home runs and 78 RBIs, his .702 OPS and 97 OPS+ both coming in significantly below his career averages (.788 and 117, respectively). A slow start (.570 OPS through his first 61 games) left Bichette in a hole, though he had a .784 OPS over his final 99 contests, playing mostly to his career average.
Still, it’s difficult to imagine Bichette landing a free-agent deal worth anything close to that $42 million AAV following a 1.9 fWAR season. Bichette will almost assuredly stay in New York for a second season, hoping 2027 is better for both himself and his team than this past season.
Sonny Gray, RHP, Red Sox
Contract status: $30 million mutual option for 2027 ($10 million buyout)
Gray inked a three-year, $75 million deal with the Cardinals prior to the 2024 season, which included a $30 million club option for 2027 with a $5 million buyout. When St. Louis agreed to trade him to Boston last November, that club option was converted into a mutual option in order to get Gray to waive his no-trade clause, while the buyout was doubled to $10 million to account for his 2026 salary being reduced by $4 million.
Had it still been a club option, it would have been a no-brainer for the Red Sox to pick it up after Gray led the Majors with 18 wins in 2026, posting a 2.72 ERA in 29 starts (169 innings). Instead, the mutual option -- which only gets triggered if both sides agree to exercise it -- will almost surely send Gray to the free-agent market. The last mutual option to be picked up was Aramis Ramirez and the Brewers for the 2015 season.
Gray has said he plans to pitch in his age-37 season, hoping to finally get the chance to win his first World Series. The Red Sox will likely be among his primary suitors, though some believe he might prefer to join a team closer geographically to his home in Tennessee.
Clay Holmes, RHP, Cubs
Contract status: $12 million salary in 2027 with opt-out clause
When the Mets signed Holmes to a three-year, $38 million contract after the 2024 season, they did so with the plan of converting the career reliever into a starting pitcher. The move paid off, and the right-hander thrived in his new role, posting a 3.53 ERA over 165 2/3 innings in 2025.
Holmes was one of the few bright spots for the Mets in the early weeks of the 2026 season, posting a 1.86 ERA in his first eight starts before a line drive fractured his right leg in his ninth outing, sending him to the injured list for more than two months. By the time he returned, Holmes had been traded to the Cubs, posting a 4.25 ERA over nine starts for Chicago down the stretch.
Even after missing time with the injury, Holmes has proven to be a reliable starter, something nearly every team can use. Holmes is a lock to opt out of the final year and $12 million of his contract, giving the 33-year-old an opportunity to go to the free-agent market as an established starting pitcher for the first time.
Also of note: The midseason trade makes Holmes ineligible for a qualifying offer, so any team that signs him won’t be subject to any Draft compensation penalties.
Michael King, RHP, Padres
Contract status: $28 million player option ($5 million buyout) for 2027; $30 million player option for 2028
Following a 2025 campaign that saw him throw only 73 1/3 innings over 15 starts, King signed a three-year, $75 million deal with the Padres last offseason, a contract that included a pair of player options for 2027 and 2028. The 31-year-old bounced back with a healthy season in 2026, posting a 3.21 ERA over a career-high 185 innings in 32 starts, proving himself to be healthy and durable.
King only strengthened his free-agent résumé in the postseason, throwing seven scoreless innings in an NL Wild Card win in Game 1 against the Cubs, then holding the Brewers to one run over five innings in Game 2 of the NL Division Series. Two days later, King came out of the bullpen to pitch two innings in Game 3, earning his first career postseason save with closer Mason Miller away from the club for the birth of his first child.
Tarik Skubal will be the crown jewel of this year’s free-agent class, but King -- who is widely expected to decline his player option to give free agency another try -- will be a highly coveted arm for teams seeking help atop the rotation. The Padres will likely try to retain King and reliever Adrian Morejon, though it seems like a long shot that San Diego will be able to keep both pitchers.
Nick Pivetta, RHP, Padres
Contract status: $14 million club option for 2027; $18 million player option for 2028 (if 2027 is exercised)
After posting an ERA in the 4.00s between 2021-24 with the Red Sox, Pivetta signed a four-year, $55 million deal with the Padres prior to the 2025 season. The contract included a $14 million player option for 2027 and an $18 million player option for 2028, but the 2027 option was converted into a club option after Pivetta spent more than 130 consecutive days on the injured list with a flexor strain in his right elbow.
The right-hander pitched to a 2.87 ERA in 181 2/3 innings for San Diego in 2025, but the elbow injury caused Pivetta to miss nearly five months in 2026, throwing only 34 2/3 innings in eight starts. Pivetta pitched well when he was on the mound, posting a 2.86 ERA, but his lack of availability will give the Padres something to think about as they consider whether to pick up the option.
The twist is that if Pivetta’s 2027 option is exercised, he retains the 2028 player option, meaning the Padres will essentially be making a two-year, $32 million commitment to the pitcher if they bring him back on the option. The two sides could try to work out a new deal in light of his elbow issue, which saw him return in September for four starts and throw 18 2/3 innings. Pivetta also made two starts in the postseason, throwing a combined 7 2/3 innings.
San Diego’s rotation could look a lot different in 2027 depending on what happens with King and Pivetta. Randy Vásquez is returning, while Joe Musgrove is coming off Tommy John surgery and Yu Darvish’s future remains cloudy following last year’s elbow surgery. Casey Mize, Robbie Ray, Walker Buehler, Lucas Giolito and Griffin Canning are all set to become free agents.
Drew Rasmussen, RHP, Rays
Contract status: $20 million club option for 2027
Rasmussen just completed the second year of the two-year, $8.5 million extension he signed with the Rays, a deal that bought out his final arbitration years. The contract included an $8 million option for 2027, but that figure jumped to $20 million based on games started and a lack of time on the injured list this season.
Rasmussen posted the best season of his career in 2026, going 16-5 with a 2.67 ERA in 30 starts, throwing a career-high 172 innings. Since coming to the Rays as part of the Willy Adames trade in 2021, Rasmussen has a 2.71 ERA in 133 games (111 starts), though he missed time in 2023 and 2024 following elbow surgery.
At first glance, a $20 million option is quite reasonable for a pitcher of Rasmussen’s caliber. But when it comes to the Rays, $20 million would be a historic figure.
The largest single-season salary in Rays history belongs to Charlie Morton, who signed a two-year, $30 million deal with Tampa Bay that paid him $15 million per season in 2019 and 2020. Only seven players have ever earned at least $10 million in a season with the Rays, so a $20 million salary for Rasmussen would be a departure from the norm for the club.
In past years, the Rays have typically traded players as their salaries hit the eight-figure mark, so while it seems like a given that Tampa Bay will exercise Rasmussen’s option for 2027, it will be interesting to see whether the Rays keep the right-hander for their rotation or try to trade him for younger, more cost-effective players. Pitching coach Kyle Snyder has called Rasmussen the most underrated pitcher in baseball and “the industry standard” when it comes to work ethic, so he may be the rare player Tampa Bay will be willing to spend big on.

