Signing Framber Valdez Won’t Just Cost Giants Money After Qualifying Offer

This San Francisco Giants have been connected to one of the top free agent pitchers on the market, and he’ll cost them in more ways than one.

General view of a San Francisco Giants cap and glove during the ninth inning against the Colorado Rockies at Coors Field. | Ron Chenoy-Imagn Images

On one hand, the San Francisco Giants have a solid starting rotation already under contract for the 2026 season.

Anchored by Logan Webb and Robbie Ray, San Francisco also has Carson Whisenhunt, Landen Roupp, Trevor McDonald and Carson Seymour on their depth chart. The Giants could go after a free agent pitcher this offseason. The speculation has been around a pair of aging veterans, Justin Verlander and Max Scherzer.

But San Francisco could go in many directions, including going after the top left-handed starter on the market, Houston Astros ace Framber Valdez. He was extended the qualifying offer on Thursday which is $22 million. He has until Nov. 18 to decide what to do. His agent can talk to other teams while he’s deciding.

But his value as a free agent isn’t just the money. It’s draft picks, too.

A Giants Pursuit of Framber Valdez

Jerome Miron-Imagn Images

MLB Trade Rumors projects him as the No. 5 overall free agent and puts him in line for a projected five-year deal worth $150 million. That would be $3 million more in average annual value than the qualifying offer. Per Spotrac, the Giants have $136 million in financial commitments to veterans and $158 million in total when including arbitration and pre-arbitration players, and the Giants have plenty of room to pay Valdez.

But the Giants won’t just have to pay Valdez money. They’ll have to pay the Astros something else in return — a draft pick.

Draft pick compensation is based on whether teams pay into the competitive balance tax or not. San Francisco does not, which means it would only have to give Houston its third-highest draft pick. For now, that would be a third-round selection. The Giants should count themselves fortunate they don’t pay into the CBT. If they did, they would owe the Astros their second and fifth-highest picks, along with $1 million in international bonus pool money.

Valdez would likely benefit from pitching at Oracle Park, considered one of baseball’s premier pitchers’ parks.

Valdez is coming off a 2025 in which he went 13-11 with a. 3.66 ERA. He has been one of the most consistent left-handers in baseball since he arrived as a full-time starter in the 2021 season. He is 81-52 for his career with a 3.36 ERA, including 1,053 strikeouts. He went to the All-Star Game twice, claimed a ring with Houston in the 2022 World Series and has finished in the Top 10 in Cy Young voting three different times.

He would be a great complement to Webb and Ray — if the price is right on both counts.