Gallardo has been on the market so long because he has a first round pick tied to him due to his declining the Rangers’ qualifying offer. The Orioles would have to forfeit the 14th overall pick in order to sign him. That has been too steep a price to pay for them all winter, but as we’re mere days away from pitchers and catchers reporting, it’s likely that Gallardo’s price has dropped enough to make it worth their while.
Gallardo has posted an ERA below 4.00 in six of his last seven seasons — and had a career-low 3.42 ERA in 2015 — but his strikeout rate has rapidly decreased with each year since 2012, suggesting that trouble could be on the horizon.
If the O’s do burn their pick to get Gallardo, it might make sense for them to go all-in with another free agent like Dexter Fowler, given that they’d not have to give up anything else to do it.