The casino floor at the Aria in Las Vegas will be buzzing as usual this week as people look to strike it big in Sin City.
But the real action will be taking place in conference rooms and suites around the hotel, where executives from all 30 Major League teams will gather for the annual General Managers Meetings.
Executives won't be the only power brokers at the Meetings; agents representing the free agents -- and there are more than 180 of those this offseason -- will also be in Las Vegas, giving them a chance to sit down with teams rather than the usual tactic of conducting business over telephone and text.
Executives will be in meetings to discuss league-related issues for much of their time this week, but with Hot Stove season officially underway, there will be more than enough time to discuss trade concepts with each other and meet with agents. After all, Vegas never closes, right?
Here’s a primer on what to expect this week during the GM Meetings:
Free agent frenzy
Free agency officially kicked off last week, and while in most years that wouldn’t mean much this early in the offseason, this offseason isn’t like most others.
The impending expiration of the Collective Bargaining Agreement on Dec. 1 could lead to a rush of signings in the coming weeks. Five years ago, some of the game’s top free agents agreed to contracts in a similar scenario, and not just your run-of-the-mill free agents.
Corey Seager signed for 10 years and $325 million with the Rangers, who also inked Marcus Semien to a seven-year, $175 million deal. Javier Báez got six years and $140 million from the Tigers, while three pitchers -- Max Scherzer (three years, $130 million with the Mets), Robbie Ray (five years, $115 million with the Mariners) and Kevin Gausman (five years, $110 million with the Blue Jays) -- also signed nine-figure contracts with a lockout looming. Eight other players landed deals worth at least $50 million during the same time frame.
Will we see deals finalized during this week’s Meetings? Unlikely. But while players tend to sit back in November while their agents allow the market to develop, there could be more urgency this month for free agents, some of whom might even make their way to Las Vegas to sit down with clubs.
Welcome wagon
Last year’s GM Meetings saw the Rockies’ Paul DePodesta, the Cardinals’ Chaim Bloom and the Nationals’ Paul Toboni, all three recently hired as president of baseball operations for their respective clubs, make their official debut in Las Vegas.
This year, Randy Flores of the Astros and Taylor Smith of the Athletics will be attending the Meetings in their new capacity as head of baseball operations for their teams.
Flores, a former big league pitcher who served as the Cardinals’ director of scouting and assistant GM during his 12 years with St. Louis, was hired as Houston’s general manager last week. Smith was hired as the Athletics’ president of baseball operations after working for the Rays (2018-23) and Red Sox (2024-25) for the past nine years.
Jared Banner (Orioles), Cam Castro (Athletics) and Rob Cerfolio (Cardinals) have all been hired as their clubs’ No. 2 in baseball operations, with all three possessing the title of general manager. Anirudh Kilambi, who was named Nationals GM in mid-December 2025, will also be attending his first Meetings in that role.
Trade winds
Over the next few weeks, we will hear plenty about potential trade candidates around the league, and while deals between clubs have been rare (though not unprecedented) during these Meetings, the groundwork for such deals are often laid when executives gather for their annual get-together.
Will the Rays look to move Drew Rasmussen and his $20 million salary? President of baseball operations Erik Neander recently said the club has “every intention” of holding on to its ace, but his salary would be the highest in franchise history, so other clubs will surely check in to see if he can be pried away from Tampa Bay.
Mariners president of baseball operations Jerry Dipoto has never been shy about making deals, and with a stocked rotation and a glaring need for offense, could Seattle look to flip George Kirby or Emerson Hancock to acquire a bat?
The Angels have some interesting trade candidates (Zach Neto, Reid Detmers), but until a full-time GM is put in place, those situations will likely remain on hold.
Other players whose names will surely be mentioned in trade talk this offseason include Nationals shortstop CJ Abrams, Diamondbacks second baseman Ketel Marte, Guardians outfielder Steven Kwan and Astros shortstop Jeremy Peña.
Qualifying offer decisions looming
Eight players received the qualifying offer last week, giving them a $23.15 million decision to make next week.
Since the system began in 2012, only 18 of the 165 players who have received the qualifying offer have accepted it, though four of them -- Brandon Woodruff, Shota Imanaga, Trent Grisham and Gleyber Torres -- came only a year ago.
The eight players to receive the qualifying offer this year are Randy Arozarena, Brandon Lowe, Seiya Suzuki, Trevor Rogers, Jake Bauers, Adrian Morejon, Ryan Jeffers and David Bednar. Bauers is an interesting case given his breakout at age 30 -- think Grisham last season -- but the consensus among industry types is that all eight will reject the offer, sending them into free agency with Draft-pick compensation attached.
The deadline to accept or decline the qualifying offer is Nov. 17 at 4 p.m. ET, so this week’s Meetings will offer an opportunity for their agents to gauge the free-agent landscape before their clients make their decisions.