That transaction was tendering a $5 million contract to outfielder Trent Grisham. He is now set for a significant pay raise in 2026.
Grisham received the qualifying offer on Thursday after the Yankees chose to extend him the one-year, $22.025 million contract. He has until Nov. 18 to decide whether to accept or decline the Yankees’ offer. If he accepts, he won’t become a free agent until next offseason.
The Yankees could still re-sign Grisham in free agency if he declines the qualifying offer, but re-signing outfielder Cody Bellinger is expected to be the club’s priority.
With the qualifying offer attached to him, Grisham could find a depressed market in free agency, but it could end up benefiting the Yankees. Suppose a team that’s paying the competitive balance tax signs Grisham in free agency. In that case, it must forfeit its second- and fifth-highest selections, as well as $1 million from its international bonus pool for the upcoming signing period. If a revenue-sharing team signs Grisham, it will forfeit its third-highest selection. If the Yankees wind up losing Grisham in free agency, they’ll receive a compensatory 2026 draft pick after the fourth round has been completed.
Grisham, 29, entered the year projected to be the Yankees’ fourth outfielder, a role he held on the 2024 roster, but he became one of New York’s best offensive players during a breakout campaign. The fact that there was debate over whether the Yankees should extend a qualifying offer to him is a testament to his growth this season. And it’s still possible that Grisham, one of MLB’s biggest breakout performers this season, finds a long-term deal in free agency.
He should fare well in free agency if he declines the QO, after hitting 34 home runs and posting a 129 wRC+. Both marks ranked in the top three among all center fielders this season. In the first six seasons of his career, Grisham logged a 95 wRC+, 5 percent below the average major-league hitter. Some clubs may be wary about offering Grisham a long-term contract and expecting a similar output to his 2025 campaign after six lesser seasons at the plate, but his underlying metrics suggest that it wasn’t a fluke.
Grisham had career-best marks in barrel percentage, average exit velocity, wOBA and xwOBA. He also pulled the ball in the air more than ever, which fueled his power surge. There’s likely even more room for improvement in Grisham’s offensive profile, as he’s still passive at the plate. Grisham had the fourth-lowest swing percentage in MLB. If he’s going to continue crushing baseballs, the more often he swings, the higher percentage he has of doing damage.
The biggest concern for teams that consider signing Grisham long-term is how much his speed has declined over the past two seasons. In his early years, Grisham was one of baseball’s speediest players, consistently ranking near the top of sprint speed leaderboards. But he’s slowed considerably with the Yankees. His sprint speed this season ranked in the 32nd percentile. The lack of burst was the biggest contributing factor to his defense in center field slipping. Only five center fielders were worse in outs above average than Grisham this season. He appears to be slowing down, which may force him to become a corner outfielder sooner rather than later.
If the Yankees don’t re-sign Grisham, what they do in center field will be one of the biggest offseason questions. Bellinger graded out negatively in center this season, finishing with minus-3 Defensive Runs Saved and minus-1 outs above average. Bellinger has not been positive in either defensive metric since 2023. As a corner outfielder, Bellinger has graded out positively in both left and right field. The Yankees have said they do not view Jasson Domínguez as a center fielder.
There are few quality center-field options on the free-agent market this offseason. Outside of Grisham, Harrison Bader is the best option followed by Cedric Mullins. Chicago White Sox center fielder Luis Robert Jr. could be available through a trade, but he is coming off back-to-back down seasons.
If Grisham doesn’t return to the Yankees, replacing his production won’t be easy. He was one of their most important players this season.