Free agency is officially underway

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As of 12:01 a.m. ET this morning, MLB free agency was officially open for business.

Free agents are now free to negotiate and sign with any team. Zack Greinke and Josh Hamilton headline this year’s crop, which isn’t nearly as impressive as ones we have seen in the past. Still, many believe that we could see some wild spending this winter, as the game is thriving and new television deals will put significant money in the pockets of each team.

You may have noticed yesterday that a handful of players received one-year, $13.3 million qualifying offers from their respective teams. Aaron has the full list here. The reason teams did that was to secure draft pick compensation if those players sign elsewhere. We’ll know by next Friday whether the offers have been accepted or declined.

In the past, most of the activity in the Hot Stove took place during the Winter Meetings in early December (this year it’s December 3-6 in Nashville), but it will be interesting to see if things develop more quickly this offseason. Under the previous collective bargaining agreement, teams were not required to offer arbitration to their free agents until the latter part of November. For instance, last year the deadline was November 23. This year’s qualifying offer deadline was three weeks earlier.

Craig has a thorough run-down of free agency here while Matthew ranked his top 50 free agents here.

Former Yankees prospect Manny Banuelos signs a minor league deal with the Dodgers

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Remember Manny Banuelos? He was once a top pitching prospect for the Yankees and then, apparently disappeared from the face of the earth. Or at least it felt like it. Now he’s in the news, however, as the Dodgers have signed him to a minor league contract.

OK, Banuelos didn’t disappear. He was traded to the Braves in 2015, had a cup of coffee with them, pitching pretty ineffectively in seven big league games, was released by Atlanta in the middle of 2016 and then latched on with the Angels. This past season he posted a 4.93 ERA over 95 innings while being used mostly as a reliever at Triple-A Salt Lake.

Banuelos pitched in the Future’s Game in 2009 and was a star in the Arizona Fall League in 2010. He was a top-50 prospect heading into 2011 before falling to Tommy John surgery in 2012. With Atlanta he suffered some bone spur problems and then some elbow issues that never resulted in surgery but which never subsided enough for him to fulfill his potential either. He suffered injuries. A lot of pitchers do.

It’s unrealistic to think that Banuelos will fulfill the promise he had six years ago, but he’s worth a minor league deal to see if the 26-year-old can at least be a serviceable reliever.