Inside the Numbers on MLB Offseason Spending: It’s the Dodgers, Then Everyone Else

This winter has seen unbelievable levels of spending in MLB free agency. Top contenders have shelled out billions for a chance to make a run at the World Series in 2026. As we’ve seen over the past few offseasons, despite all that spending, no one is coming close to what the Dodgers do.

Multiple teams have added more than $150 million to their balance sheets since the 2025 season came to a close. Some contenders have shown they’re serious about improving their rosters. Unfortunately, the giant in L.A. has not been slumbering and has improved significantly by outbidding everyone for All-Stars.

On the other end of the spectrum, several teams are content to stay put and largely build from within ahead of the CBA negotiations on the horizon after 2026.

How crazy has this offseason been so far? Let’s go inside the numbers to take a look.

Note: All financial figures are according to Spotrac.

$1.25 million — Amount of money spent on free agents by the Brewers. Milwaukee signed outfielder Akil Baddoo to a one-year, $1.25 million deal, and that’s it so far. They also dealt ace Freddy Peralta to the Mets (more on that later). It has been a very typical offseason for the Brewers.

$2.85 million — Free agency spending by the Athletics. They signed former Yankees relief pitcher Mark Leiter Jr. to a one-year, $2.85 million deal. Not to be too hard on the Oakland Abandoners, they did give 24-year-old outfielder Tyler Soderstrom a seven-year, $86 million extension.

$5.5 million — If there was any doubt the Nationals were in full rebuild mode under Paul Toboni, it’s safe to put those to bed. Washington’s lone free agent signing was giving a one-year, $5.5 million deal to Foster Griffin, who has been pitching for the Yomiuri Giants since 2023. That lack of spending, combined with the MacKenzie Gore trade signal a full strip-down is on the way in D.C.

$191.3 million — What the Yankees have spent this offseason to not improve much. They re-signed Cody Bellinger to a five-year, $162.5 million deal, and Trent Grisham accepted an ill-advised qualifying offer ($22.025 million). Then New York signed reliever Ryan Yarbrough ($2.5 million), infielder Amed Rosario ($2.25 million), and pitcher Paul Blackburn ($2 million) to one-year deals. Retaining Bellinger is probably a smart move, but he has had wild swings in production for the past six seasons. I’m just not seeing much improvement here for a team that got beaten to first place by the Blue Jays in 2025.

$195 million — Free agency spending by the Orioles this offseason. In a wild swing, Baltimore is dumping money into its product with new owner David Rubenstein in place. The O’s landed Pete Alonso for five years and $155 million, then signed reliever Ryan Helsley (two years, $28 million), added outfielder Leody Taveras (one year, $2 million), and brought starting pitcher Zach Eflin back (one year, $10 million). This figure doesn’t even include the more then $35 million imported in trades for Taylor Ward, Andrew Kittredge and Shane Baz. It’s a new day in Baltimore.

$227.9 million — Phillies spending on free agents this offseason. Most of this went toward retaining Kyle Schwarber (five years, $150 million) and J.T. Realmuto (three years, $45 million), but Philadelphia also added reliever Brad Keller (two years, $22 million) and outfielder Adolis Garcia (one year, $10 million). Despite chatter about trading Bryce Harper, Philadelphia appears content to mostly run it back with its team from 2025.

$343 million — Amount of new money the Mets have imported after missing the playoffs. To be clear, losing Pete Alonso and Edwin Diaz (more on him later) in free agency and moving Brandon Nimmo opened up some cash, but New York has filled those gaps. Bo Bichette (three years, $126 million) and Devin Williams (three years, $51 million) highlight the free agent moves that have cost more than $243 million. Trades for Luis Robert Jr. and Marcus Semien added $46 million to the payroll in 2026 alone, and $92 million of total contract obligations. New ace Freddy Peralta will only cost $8 million in 2026. Owner Steve Cohen is trying extremely hard to prevent a redux of ’25.

$353 million — Amount spent by the Blue Jays on free agents after coming within a few outs of winning the World Series. Toronto is the only team to outspend the Dodgers in free agency this offseason. They’ve signed Dylan Cease (seven years, $210 million), Kazuma Okamoto (four years, $60 million), Tyler Rogers (three years, $37 million) and Cody Ponce (three years, $30 million), and picked up Shane Bieber’s $16 million option for 2026. That’s a lot of money for a team that had a payroll of $239.4 million on Opening Day in 2025. They’re currently looking at a CBT payroll of $312.4 million in ’26.

$69 million — Value of Edwin Diaz’s three-year contract with the Dodgers. The former Mets closer’s new deal has an average annual value of $23 million, which is the largest for a closer in MLB history, surpassing his own record of $20.4 million set with his last Mets contract. The crazy part? New teammate Tanner Scott received a four-year, $72 million deal ($18 mil AAV) last January. Now he’s at best a setup guy. Diaz will have the eighth-highest AAV on the Dodgers.

$60 million — Average annual value of Kyle Tucker’s new contract with the Dodgers. His four-year, $240 million pact carries the second-highest average annual value since L.A. gave Shohei Ohtani $700 million over 10 years. It’s an absurd contract by the two-time defending champions that shows they’re playing in a different financial stratosphere than everyone else.

$3 million — Actual salary that will be paid to Tucker and Ohtani this season. Tucker will receive $1 million in salary, but a $64 million signing bonus before spring training begins. Ohtani will get $2 million, with $68 million being deferred. It’s not shocking that many owners around the league want to dramatically change the way MLB does business in the next collective bargaining agreement.

$314.5 million — Amount the Dodgers have spent on three free agents this winter. Tucker, Diaz, and Miguel Rojas (one year, $5.5 million) represent the team’s entire free agent class thus far.

$412 million — Projected luxury tax payroll for the Dodgers in 2026. The Mets are in second at $386 million, then the Phillies are in third at $326 million.

$161 million — The Dodgers’ current projected luxury tax bill for 2026 as a third-time offender. That is higher than the entire payroll of 12 MLB teams.

$574 million — The total cost of the Dodgers’ roster in 2026, combining their luxury tax payroll and luxury tax bill.

$277 million — Combined tax payroll and tax bill for L.A.’s rival, the San Diego Padres. They are projected to have the seventh-highest number in MLB in 2026, but aren’t even at half the Dodgers’ spending.

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