A flurry of trades and free agent signings gave fans plenty to talk about during Major League Baseball’s winter meetings last week, but that doesn’t mean the deal is done. Several high-profile players are still on the board, which could make for an interesting Christmas period.

What’s next? Let’s dive in:

Are the Blue Jays and Giants still the favorites for Corbin Burnes? Which other team should you watch closely in this competition?

Toronto and San Francisco remain the two favorites to land the 2021 National League Cy Young Award winner, who was the top free agent starter available throughout the offseason.

The Blue Jays have clearly shown that they are willing to spend money with their big offer for Juan Soto (not to mention last year’s push for Shohei Ohtani), and although their rotation is strong with Kevin Gausman, Chris Bassitt and José Berríos at the top is, Bassitt is scheduled to hit free agency next winter and Gausman the year after.

The Giants made a big splash last week by signing Willy Adames, but San Francisco is still looking for a replacement for Blake Snell, who signed with the division rival Dodgers. Burnes – a Southern California native who played his college ball in the Bay Area – would be an ideal fit, but after Max Fried received a $218 million deal from the Yankees, Burnes is now expected to exceed that guaranteed sum, with some predicting a deal worth more than $245 million.

Two other AL East teams could get into the mix: the Red Sox and Orioles. Boston dealt the deal for Garrett Crochet to reach the top of its rotation, but after a run at Soto, there’s clearly money there if the Red Sox decide to spend it. The Orioles made some offensive signings in Tyler O’Neill and Gary Sánchez and added Japanese right-hander Tomoyuki Sugano on Monday, but after trading for Burnes last offseason, a return to Baltimore can’t be ruled out.

Both clubs could also move on to Jack Flaherty or Walker Buehler if the price for Burnes proves too high for their liking, as the two free agents are more attractive than Sean Manaea and Nick Pivetta, who would each cost a draft pick in compensation Rejection of qualified offers.

Dylan Cease and Luis Castillo are the two hottest names left on the starting pitcher market. What is the most likely scenario: Cease is dealt, Castillo is dealt, or both?

It wouldn’t be surprising if both starters were traded, especially given the aggressive pasts of Seattle’s Jerry Dipoto and San Diego’s AJ Preller.

Castillo appears to be the more likely arm to move as the Mariners are desperate for an offensive upgrade but appear to lack the payroll flexibility to attack the free agent market. Seattle could look to trade Castillo for an impact bat, although it’s possible the Mariners could look to offload his salary with the idea of ​​improving the roster via free agency.

The Red Sox appear to be a strong matchup with the Mariners, especially as Boston continues to monitor the market for hitters like Alex Bregman and Teoscar Hernández. As part of a deal for Castillo, could the Sox move Triston Casas, then sign Bregman and move Rafael Devers to first base? Seattle could also sign Castillo to prospects and then use the money earmarked for the pitcher to sign a free agent like Christian Walker.

Cease appears to be a solid backup plan for the Orioles, although with the potential loss of Burnes just one season after taking over, it remains to be seen whether GM Mike Elias would give up a player package for another pitcher with one year of club control. Castillo, who is under contract for three years at $68.25 million (plus a $25 million vesting option for 2028), could be a better target for Baltimore at a much cheaper cost than Burnes front line would be preserved.

Bellinger is a perfect fit for the Yankees as he can play either left field or first base. The Cubs are looking at $27.5 million in 2025 and, if Bellinger exercises his player option, another $25 million in 2026 (or a $5 million buyout, bringing the 2025 commitment to would total $32.5 million).

While it’s unclear what exactly the Yankees would send back as part of a deal for Bellinger, the Cubs likely won’t ask for a pickup to get some of Bellinger’s salary off the payroll. The two teams appear to be in broad agreement on how much money Chicago would need to send to New York in a deal, but given that Bellinger appears to have no room in the Cubs’ lineup following the deal for Tucker, industry sources leave assumes that the Yankees and Cubs will come to an agreement at some point.

How interconnected are the Alex Bregman and Nolan Arenado markets, even though Bregman is a free agent and Arenado is a trade candidate (who can control his target via a no-trade clause)? Which player is more likely to move first?

These two players are directly linked as they represent the two best options at third base between the free agent and trade markets.

The Astros – who will need to find a new third baseman if Bregman signs elsewhere – have emerged as contenders for Arenado, although they continue to have a reunion with Bregman on the radar. Houston acquired Isaac Paredes as part of the Tucker deal, so adding a third baseman isn’t necessary, but the Astros could move Paredes to first base if they acquired Arenado or re-signed Bregman.

The Yankees are also believed to have interest in both players, one of whom would take over at third base and move Jazz Chisholm Jr. to second base. Other clubs supporting Bregman to varying degrees include the Red Sox, Mets, Tigers and Blue Jays.

Arenado has three years and $74 million left on his contract, although $10 million of that will be paid by the Rockies as part of the deal that sent him to the Cardinals in February 2021. Arenado has a full no-trade clause, although sources believe he would be willing to waive it to join a contender.

There was some thought that cornerback outfielders Teoscar Hernández and Anthony Santander would quickly sign after Soto came off the field, but that hasn’t happened yet. What are you reading about their markets?

The Dodgers and Hernández appeared to be headed for a reunion, but the two teams have so far been unable to come to an agreement. That opened the door for other teams — namely the Red Sox and Blue Jays — to move in on the outfielder, who sources say is seeking a three-year deal in the range of $22 million to $24 million per year.

Santander, who ranked third in the majors with 44 home runs last season, is believed to be seeking a five-year deal likely in the $100 million range. The Yankees, Red Sox and Blue Jays — all of whom waived Soto when he signed with the Mets — are interested in Santander. Other teams to keep an eye on include the Dodgers, Tigers and Nationals.

One thing that could slow this market: Both Santander and Hernández declined qualifying offers, so any team that signs them will have to forgo draft picks and/or international bonus money.