The Baltimore Orioles have already made one of the biggest moves of the offseason by landing Pete Alonso on a five-year, $155 million deal. That alone shifted expectations in the American League East.
But if Baltimore wants to push the window even wider, the next move might need to come on the pitching side, where the market has barely budged. The focus has shifted to trades, and Freddy Peralta sits at the center of that conversation.
Peralta is drawing interest from nearly every contender with a rotation need. The Astros, Giants, Mets, Yankees, and Red Sox have all checked in, according to The Athletic. He fits each club for different reasons, but it is the Orioles who may be positioned to move the fastest. Their rotation posted a 4.60 ERA in 2025, ranking 26th in the majors, and it was clear by September that the staff did not match the rest of a lineup that finished among the league’s best in run production. The Alonso signing amplified that gap even more.
Baltimore has been connected to Framber Valdez, Ranger Suarez, Edward Cabrera and MacKenzie Gore, but Peralta may be the cleanest fit. He is under control for $8 million in 2026, is coming off a 2.70 ERA season, and has three straight years of 200 strikeouts and 30 starts. That combination of cost and reliability is nearly impossible to find in free agency this winter.
The Orioles also have the prospect depth to make a run at him without emptying their system. With catcher and first baseman Samuel Basallo getting an extension, there are some thoughts that Adley Rutschman could be available. Coby Mayo and Jordan Westburg have also been mentioned as potential trade chips. Outfielder Dylan Beavers is an upper-level prospect who could move the needle. Pitching prospect Trey Gibson or a young major-league arm could also be part of a competitive offer. Baltimore has enough pieces to build a deal while keeping its core intact.
Milwaukee has little incentive to move Peralta except for an overwhelming return. They are coming off a 97-win season and expect to contend again. They have executed these types of decisions before, trading stars late in their control window, but Peralta’s combination of performance and affordability makes him harder to replace.
Still, the Orioles’ urgency is different from most. They just added Alonso. They have a lineup good enough to win now. And with the pitching market frozen, they may be the first team willing to meet Milwaukee’s price.
If Baltimore jumps first, it could reset the entire winter.
