Why Mets May Be Better Off Holding Freddy Peralta at Trade Deadline

The Mets' poor season has led to a lot of speculation about trading Freddy Peralta at the trade deadline. Peralta's poor performance, however, may make it worthwhile to hold onto him through the end of the season.

Jul 20, 2026; Milwaukee, Wisconsin, USA; New York Mets pitcher Freddy Peralta (51) throws a pitch during the first inning against the Milwaukee Brewers at American Family Field. Mandatory Credit: Jeff Hanisch-Imagn Images | IMAGN IMAGES via Reuters Connect

One of the biggest disappointments for the New York Mets in 2026 has been the performance of starting pitcher Freddy Peralta. Acquired from Milwaukee in exchange for two top prospects, the Mets hoped that Peralta would be the ace they had been missing for the past few years and guide them deep into October.

That hope hasn't materialized, thanks in part to Peralta's poor performance, who has been an abject disaster in Flushing. Following a clunker in his return to Milwaukee on Monday, Peralta is 5-9 with a 5.01 ERA in 21 starts.

The extent of the Mets' deadline sale remains to be seen, but most assumed that Peralta would be a significant part of it. While it was unlikely that the Mets would get back the same value they gave up for Peralta in a mid-season deal, his awful showing so far in 2026 could make it rather difficult to get enough value to justify a trade.

Keeping Freddy Peralta past the trade deadline could make sense for the Mets

The idea of the Mets holding onto Peralta was floated on SNY by former Mets GM Jim Duquette earlier in the week. Duquette theorized that the offers the Mets could be getting for Peralta may be quite underwhelming, which would put the idea of holding onto him and extending a qualifying offer at the end of the season into play.

On BNNY, @JimDuquetteGM explains why the Mets may need to keep Freddy Peralta if they don't get the right value for him on the trade market pic.twitter.com/g45bWRyiBT

— SNY Mets (@SNY_Mets) July 21, 2026

The qualifying offer, for those not familiar with the concept, is a one-year contract offer worth the average salary of the top 125 players in the sport. 2025's qualifying offer was worth $22.05 million, and any player who accepts a QO would get a contract at whatever 2026's valuation would be.

Players who decline the qualifying offer can test free agency. But any team that signs them would lose their second-and fifth-highest draft choices (along with the accompanying bonus pool money) if they are in the luxury tax, with differing draft penalties if they aren't. The Mets, as a luxury tax payer, would receive a fourth-round draft pick (and the aforementioned bonus pool money) if they gave Peralta a QO and he declined it to sign elsewhere.

That compensation should be a floor of what the Mets should expect to get back in a potential Peralta trade. The Mets could find creative ways to generate that value, such as pairing Peralta with Luke Weaver to enhance their return in a trade package, but there is a good chance they are being low-balled due to Peralta's poor performance.

There have also been rumblings that the Mets are more likely to trade Clay Holmes now despite his willingness to sign an extension with them. Holmes could be a big help for the 2027 team if he did sign an extension, so the fact that the Mets are more open to dealing him could be an indicator that they aren't getting good offers for Peralta and want to add assets to help them in different deals.

There is a "significantly greater likelihood" of the Mets trading Clay Holmes prior to the deadline rather than signing him to an extension, per @Ken_Rosenthal and @WillSammon of The Athletic pic.twitter.com/eqJeBHey29

— SNY Mets (@SNY_Mets) July 22, 2026

Peralta's track record shows he can be a front-line big-league pitcher, so the Mets shouldn't settle for pennies on the dollar to move him. Keeping Peralta and extending a qualifying offer is a valid strategy and could even lead to Peralta taking it, given the strong pitching market in free agency and the specter of a work stoppage.

Getting a one-year deal worth over $20 million would be a good option for Peralta, who could look to re-establish his value before testing the free agent market again in 2027. Peralta's poor performance won't help him get anywhere close to his initial contract demands, so building a better platform year in a place he wants to be would make a lot of sense.

There is still some time before the deadline for Peralta to put together a few good starts to enhance his value for other teams. If the Mets can't find a deal they like, however, they have a promising alternative that doesn't involve settling for whatever the market is willing to offer.