Key Contract Decisions Loom for Bichette, Gray, King and Others This MLB Offseason

With the World Series still weeks away, the other 26 MLB teams are already deep into offseason planning. Several high-profile players have contract options that will determine whether they stay with their current clubs or hit the free-agent market. Here is a breakdown of six players whose decisions will have significant roster and financial implications for 2027.

Bo Bichette, 3B, New York Mets

Bichette holds two player options worth $42 million each for 2027 and 2028, with a $5 million buyout for each year. He signed the three-year, $126 million deal with the Mets last offseason. In his first season in New York, Bichette slashed .260/.312/.390 with 18 home runs and 78 RBIs, posting a 97 OPS+ that fell well below his career average of 117. After a slow start, Bichette posted a .784 OPS over his final 99 games, closer to his career norms. However, a 1.9 fWAR season makes it unlikely he could match the $42 million AAV on the open market. He is expected to remain with the Mets for 2027.

Sonny Gray, RHP, Boston Red Sox

Gray’s contract includes a $30 million mutual option for 2027 with a $10 million buyout. The option was converted from a club option when Gray was traded from St. Louis to Boston last November, as part of the agreement for him to waive his no-trade clause. Gray led the majors with 18 wins in 2026, posting a 2.72 ERA over 169 innings. Despite that performance, mutual options are rarely exercised; the last one picked up was Aramis Ramirez with the Brewers in 2015. Gray has stated he plans to pitch at age 37 and is seeking his first World Series title. The Red Sox are expected to be among his suitors, though he may also consider teams closer to his home in Tennessee.

Clay Holmes, RHP, Chicago Cubs

Holmes has a $12 million salary for 2027 with an opt-out clause. Originally signed by the Mets as a reliever, he was converted to a starter and posted a 3.53 ERA over 165 2/3 innings in 2025. In 2026, he started strong with a 1.86 ERA in his first eight starts before a fractured leg from a line drive sidelined him for over two months. After being traded to the Cubs at the deadline, he posted a 4.25 ERA over nine starts. Holmes is expected to opt out of the final year of his contract, entering free agency as an established starting pitcher for the first time. Because he was traded midseason, he is ineligible for a qualifying offer, meaning no draft-pick compensation will be attached.

Michael King, RHP, San Diego Padres

King holds a $28 million player option for 2027 with a $5 million buyout, followed by a $30 million player option for 2028. After an injury-marred 2025 season, King rebounded in 2026 with a 3.21 ERA over a career-high 185 innings in 32 starts. He also delivered in the postseason, throwing seven scoreless innings in a Wild Card win and earning his first career postseason save in the NLDS. King is widely expected to decline his option and test free agency, where he will be one of the most coveted arms behind Tarik Skubal. The Padres are expected to try to retain him, but retaining both King and reliever Adrian Morejon appears unlikely.

Nick Pivetta, RHP, San Diego Padres

Pivetta’s contract includes a $14 million club option for 2027. The option was originally a player option but was converted to a club option after he spent more than 130 consecutive days on the injured list with a right elbow flexor strain. Pivetta pitched to a 2.86 ERA in 34 2/3 innings over eight starts in 2026, but his extended absence raises questions about his durability. If the Padres exercise the 2027 option, Pivetta retains an $18 million player option for 2028, adding another layer to San Diego’s decision.

Key facts

Why these decisions matter

Each of these options carries significant roster and payroll implications. Bichette’s decision affects the Mets’ infield and payroll flexibility. Gray’s departure would leave the Red Sox searching for a frontline starter. Holmes could reshape the free-agent starting pitching market. King and Pivetta’s decisions could determine whether the Padres retain a core of their rotation or need to rebuild it. For fans and front offices alike, these decisions will set the stage for the 2027 season.

Source: MLB Official News RSS (https://www.mlb.com/news/options-and-opt-outs-to-watch-ahead-of-2027-season)