Does signing Victor Caratini suggest Twins might trade Ryan Jeffers?

The Twins made just their second MLB free agent addition of the offseason late last week when they signed catcher Victor Caratini to a two-year, $14 million deal. It's the first multi-year deal the franchise has given out since signing Carlos Correa three years ago.

On the surface, signing Caratini makes sense. With Christian Vazquez hitting free agency, the Twins needed another catcher to pair with Ryan Jeffers, and Caratini is a clear offensive upgrade from Vazquez. But within the context of the Twins' roster construction and ownership-imposed payroll restrictions, it's a fairly interesting way to use a chunk of the team's limited financial resources.

Looking at it within the broader context of the Twins' situation raises a significant question: Does this signing indicate that Jeffers might be traded before the offseason is over?

The Twins and Jeffers agreed to terms on a one-year, $6.7 million deal via arbitration this offseason. It's his final arb year, which means he'll be a free agent after the season. And up to this point, there's been no buzz about a potential contract extension for the Twins' No. 1 catcher. It certainly feels possible that instead of losing Jeffers for nothing next winter, the Twins could consider trading him at some point — whether that's before the season begins or at the deadline this summer, if the team isn't competitive in the standings.

Ryan Jeffers | Jesse Johnson-Imagn Images

Earlier this offseason, the Twins made a low-level move when they traded minor-league infielder Payton Eeles to the Orioles for catcher Alex Jackson. At the time, Jackson looked like the Vazquez replacement as Minnesota's No. 2 catcher. He's put up abysmal offensive numbers in the major leagues (.153 average, .527 OPS in 440 PAs), but he did have the best season of his career last year (.763 OPS in 100 PAs). Jackson got a guaranteed $1.35 million from the Twins in arbitration and is out of minor-league options.

So between Caratini ($7M), Jeffers ($6.7M), and Jackson ($1.35M), the Twins currently have just over $15 million committed to three catchers. For a team with an average payroll, that wouldn't be anything to bat an eye at. For the Twins, whose payroll may not rise much above $100 million, that's a sizable chunk of money to spend on one position, especially given their needs elsewhere.

Maybe there's nothing extra to see here. If nothing changes, Jeffers and Caratini would be a very solid catching tandem for the 2026 season, and manager Derek Shelton would be able to use Jeffers at DH or Caratini at first base in order to get both of them in the lineup at times. Jackson can be the third catcher for depth purposes, or he could potentially be traded again if the Twins can find a taker for his $1.35 million salary.

At the same time, there are plenty of reasons to think that a Jeffers trade is a real possibility. Moving his $6.7 million salary could allow the Twins to acquire some of the bullpen help they desperately need while getting something in return for Jeffers before the final year of his contract. That would mean relying on a catching tandem of Caratini and Jackson in 2026, which would be an obvious downgrade.

Trading a productive player like Jeffers would be disappointing from a Twins team that has said it plans to compete for a division title this year. But when a team is operating under self-imposed financial restraints like they are, nothing is off the table. Having an ownership group that's unwilling to spend money makes conversations like these unavoidable.

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