With the World Series potentially ending as soon as Wednesday night if the Dodgers are able to finish off the Yankees in Game 5, hot stove season is just about upon us. For the Red Sox, that means a couple of procedural decisions are due in the coming days.
Five days after the conclusion of the World Series marks the first important offseason deadlines for teams. They must decide whether to issue qualifying offers to eligible free agents (we’ll cover this on the site Thursday. And decisions must be made on any contract options that loom for 2025.
The Red Sox have two veterans — righty Lucas Giolito and outfielder Rob Refsnyder — whose contracts include options for 2025. And while those players find themselves in much different scenarios, the outcome is expected to be the same.
Giolito’s situation is both complicated and straightforward at the same time. The free agent deal he signed with Boston in December guaranteed one year (at $18 million) with a second-year player option (at $19 million) attached; that option gave him some insurance if he had a down year in 2024. Of course, he didn’t pitch at all last year after undergoing elbow surgery in March. So that decision will be a no-brainer for Giolito who intends to pick up the option, return to the Red Sox and not risk making much less than $19 million on the open market.
It’s somewhat of a tough swallow for the Red Sox, who almost certainly would not give a player coming off a lost season a $19 million guarantee. But it’s a piece of the contract Giolito earned based on past performance and was guaranteed by the Red Sox. The expectation is that he will, barring any setbacks, be ready for Opening Day.
(How much Giolito is able to pitch in 2024 will determine if the Red Sox have control over him in 2026. His deal includes a conditional option for 2026 that effectively voids, as a $19 million mutual option, if he reaches 140 innings in 2025. If he doesn’t reach that mark, the Red Sox would have a $14 million team option, or $1.5 million buyout, over him for 2026. He can also earn an additional $1 million in performance bonuses next year.)
Refsnyder’s option is worth $2.1 million (escalators based on plate appearances tacked $100,000 onto its original value) or the Red Sox could buy him out for $150,000. The Red Sox already have a surplus of outfielders, but at that price, it’s likely a pretty easy call to pick it up. Refsnyder, playing at 33 last season, had a very good bounceback season, hitting .283 with 11 homers, 40 RBIs and an .830 OPS in 93 games. More importantly on a roster with plenty of left-handed hitters, he did what he does best: crush lefties. In 145 plate appearances against southpaws, Refsnyder hit .302 with a .941 OPS. He’s a perfect platoon fill-in, even if the Sox, as expected, add some more right-handed thump before Opening Day.
Refsnyder flirted with the idea of potentially retiring after the season but instead will likely return. To this point, there have been no talks about a longer deal that would override the option. Refsnyder is likely going to go year-to-year as he flirts with the possibility of taking on a non-playing role in the future. For now, he’s one of the most vocal leaders on a roster that lacks them and the Red Sox value him for that in addition to his play on the field.
Assuming Giolito and Refsnyder both return, the Red Sox will have eight major league free agents: pitchers Luis García, Kenley Jansen, Chris Martin, James Paxton (retiring), Nick Pivetta, catcher Danny Jansen and outfielder Tyler O’Neill. Boston needs to add six players from the 60-day injured list to the 40-man roster (Isaiah Campbell, Giolito, Liam Hendriks, Bryan Mata, Chris Murphy and Garrett Whitlock), so they’ll have two open spots as their winter business begins.
