Pittsburgh Pirates: Potential Free Agents With Options to Follow

These players have team or player options for the 2024 season, if those options are declined and they become free agents they are players the Pittsburgh Pirates should consider pursuing

An option in a contract gives a player or team the chance to return for another season or multiple seasons for a certain amount or to head into free agency, sometimes with a buyout. It's not always a guarantee these options are picked up or declined. Sometimes, a player feels they have the ability to get more on the free agent market. Other times, a team may get a good deal on a second year by activating the option for another season. Because of that, many potential free agents have yet to hit the market and won't until after the postseason.

The Pittsburgh Pirates will likely head into the free agent market in hopes of landing a few solid players this offseason. The Pirates have steadily increased payroll over the last two years and will likely try and uptick their budget on player acquisition this upcoming offseason. There's still work to be done, and the Pirates have a few areas on their roster they need to reinforce.

But some of these potential reinforcements may not be available until after the postseason if their option is declined. Today, I want to look at three potential free-agent targets that fans should keep an eye on in the coming weeks. These players have team or player options, and they're not guaranteed to get picked up for 2024.

Mark Canha

Mark Canha was a trade deadline acquisition by the Milwaukee Brewers, and he may re-enter the free agent market this off-season. If Canha were to become a free agent again, some teams in need of a first baseman, such as the Pirates, may kick the tires on him at that position, even though he's primarily an outfielder. The Brewers hold an option worth $11.5 million but a buyout of $2 million, essentially making it a net $9.5 million option.

Based on his playing time in 2023 with the New York Mets, it looked as if it was an easy choice to buy Canha out. He started the season with a respectable but unimpressive .245/.343/.381 triple-slash. Canha, who has previously hit for above-average power, only slugged six home runs in 303 plate appearances and had an ISO of .136. He still walked at a 10.6% rate with a quality 17.6% strikeout rate. However, walks were about the only thing of significant value that Canha produced with NYM. Overall, he had a .321 wOBA and 105 wRC+, which, while not bad, is far from being worth $11.5 million.

Canha was then sent to the Brewers, and his bat rebounded, slashing .287/.373/.427. His power output did not change much, only going up to a .140 ISO, but he hit five more dingers in just 202 plate appearances. His walk rate also took a step backward to 8.3%, but his strikeout rate dropped even further to 13.2%. But when everything was said and done, his wRC+ with the Brew Crew was 120, a 15% uptick from the first handful of months to the season.

Canha has mostly played corner outfield the last two seasons, albeit not to a strong level. He has -1 DRS and -3 OAA, which makes him playable but not great, either. Canha has played first base sporadically throughout his career, but the 127.1 innings he saw there this past season is the second most in his career and the most he's played the position since his 2015 rookie campaign.

His performance with the Brewers makes his net $9.5 million decision a little less clear. That's not a horrible price tag for a guy who had a 120 wRC+ and can play both corner outfield positions as well as first base. But that still doesn't remove the fact that he had a suboptimal first half with the Mets.

Sean Manaea

Sean Manaea was a rotation stalwart for the Oakland Athletics from 2016 through 2021. He was then traded to the San Diego Padres in the 2021-2022 off-season as part of the A's firesale, but he struggled with the Friars. Manaea landed a one-year guarantee worth $10 million with a player option worth $12.5 million. At one point, it looked like Manaea would easily be accepting the player option, but a strong second half will make the decision much harder for the veteran southpaw.

Manaea opened the year in the Giants' rotation but pitched horribly through his first 26 innings of the year. He pitched to the tune of a 7.96 ERA, 6.56 FIP, and 1.77 WHIP. While he had a quality 24.8% strikeout rate, he also walked 12.8% of the opponents he faced while having a 2.42 HR/9 rate. Sure, a .338 batting average on balls in play and 22.6% HR/FB ratio was a factor here, but you can't deny the fact he pitched poorly regardless.

After getting bumped to the bullpen, something clicked and Manaea found his groove. Through his final 91.2 innings of the season, the lefty owned a 3.44 ERA, 3.15 FIP, and 1.09 WHIP. His strikeout rate remained above average at 25.9%, but his walk rate fell to 7%, while his HR/9 came down to 0.69. ERA estimating stats like xFIP (3.72) and SIERA (3.55) also liked his work during this time. Manaea moved back into the rotation in mid-September with his final 24 innings of the season, yielding a 2.255 ERA, 3.21 FIP, and 0.92 WHIP. While he only struck out 19 batters, he allowed just two free passes and two home runs.

What role Manaea will serve moving forward will be up in the air. He made just three appearances out of the bullpen from 2016 through 2022, but 27 of Manaea's 37 total appearances were out of the pen. Granted, it's not as if the Giants used him as a one-and-done reliever. Even though he made less than 30 appearances out of the pen, Manaea still pitched 71 innings, mostly working as a long relief man and bulk man following the opener.

Manaea might have a hard time securing more than $12.5 million in free agency, but in the event he can't secure that, he'll probably look for more guaranteed money over a multi-year deal. Manaea will turn 32 in February, which may also be a deciding factor in Manaea's decision.

To play Devil's advocate as to why Manaea may opt-in for $12.5 million, while Manaea's mid-May through the end of the season was promising, he may look to try and prove he can handle a rotation spot for a full season, something he hasn't been able to do effectively since 2021. Regardless, given the Pirates' current pitching situation, this will be one player to watch.

Nick Martinez

Another pitcher to watch is Nick Martinez. The Padres signed the right-hander after a stint in Japan to a two-year guaranteed deal but included two years through both a team and player option. Depending on how the Padres and Martinez values himself, this could be an interesting one to watch.

Upon Martinez's return to the US, the Padres slotted him into their rotation. From April through mid-June, Martinez started ten of his 12 appearances, pitching to a respectable 4.03 ERA, 4.77 FIP, and 1.44 WHIP. But his peripherals were poor, as he had a mediocre 21.9% strikeout rate, along with a 10.4% walk rate and 1.49 HR/9. Though Martinez's expected numbers like xFIP (4.27) and SIERA (4.09) said that he was pitching to his ability.

But Martinez was moved to the bullpen and didn't make another start for the rest of the '22 season. To his credit, he pitched better, working to a 2.74 ERA, 3.98 FIP, and 1.09 WHIP. Martinez's K% sat at 20.2%, but his walk rate dipped to 7.4%, while his HR/9 also fell to 0.98. His ERA estimations also got slightly better with a 3.98 xFIP and 3.71 SIERA, though they painted a less bullish picture than they did during his starts.

Martinez made starts at a more infrequent pace in 2023. He started the year in the rotation, but after a subpar April, was moved to the pen once again. He was then moved back to the rotation in mid-September, finishing the year with 12 scoreless innings in three starts. Overall on the season, Martinez owned a 3.43 ERA, 3.92 FIP, and 1.26 WHIP in 110.1 innings of work. Martinez's 23% strikeout rate was right around league average, as was his 8.7% walk rate, with his 0.98 HR/9 being the only number among his peripherals that was noticeably above average.

Martinez is a soft contact merchant. His 84.7 MPH exit velocity and 29.9% hard-hit rate were both in the 95th or better percentile among pitchers in 2023. His 7.1% barrel rate was also above average, coming in the 65th percentile. He wasn't nearly as good in 2022 at limiting hard contact but still had a quality 86.5 MPH exit velo (89th percentile) and 37% hard hit rate (59th percentile).

Martinez's option is more complicated than the previous ones mentioned. The Padres have the option to take on a two-year, $32 million deal for Martinez's services. If they decline that, the ball goes to Martinez's side of the court, and they then have the choice to opt into or out of a two-year, $16 million deal.

Depending on how the Padres view Martinez, this could be an interesting situation. If the Padres view Martinez as a starting pitcher, then they'll probably take on the two years at a $16 million AAV. If the Padres decline this option, I don't see Martinez accepting two-years valued at an $8 million AAV contract, as he may look to market himself as a starter. Another thing to consider is that the Padres stated they are looking to cut down their payroll some, and taking on $16 million for a starter may make them lean toward turning his option down.

This is definitely one that Pirates fans need to follow closely. I think Martinez would be an excellent pitcher to pursue, whether he hit the free agent market or through trade. Since his return to baseball in the United States, Martinez has been a very solid pitcher. Even if he's not an ace, he's proven that he can be a solid pitcher when given an opportunity to start.