Padres Rumors: Update on Blake Snell’s market as free agent market takes focus

Reigning NL Cy Young Award-winner Blake Snell still doesn't have a new team. The left-hander entered free agency this offseason and was expected to be one of the more coveted hurlers on the open market. But that interest hasn't landed the All-Star a new deal just yet.

The San Diego Padres have shown no inclination to re-sign Snell this offseason. The Friars, after having extended a Qualifying Offer to Snell earlier this winter, will receive draft compensation once he agrees to terms with a new team.

But San Diego is more concerned with saving money than spending it this offseason. And with Snell reportedly seeking upwards of $240 million, is it any wonder that a majority of teams have balked at signing the southpaw this offseason?

Padres Rumors: Blake Snell sets astronomical price following Cy Young Award-winning season

Bob Nightengale of USA Today is reporting that several teams remain engaged in contract talks with Snell, but the New York Yankees are no longer one of them. After reportedly falling about $100 million short of Snell's asking price, the Yankees decided to turn their attention to Marcus Stroman.

Stroman will return to the AL East in 2024 after agreeing to a two-year, $37-million contract with the Bronx Bombers. After the Yankees initial offer to Snell was quickly rejected, New York decided to pivot to Stroman. Jon Heyman of the New York Post described the Yankees' contract talks with Snell as "very far apart."

Another AL East team, however, remains engaged with Snell despite his astronomical contract demands. The Toronto Blue Jays are said to be quietly monitoring Snell's market while other teams are also involved.

The Boston Red Sox, New York Mets, Philadelphia Phillies, Los Angeles Angels, and San Francisco Giants were all linked to Snell late last month, so it's not as if the 31-year-old doesn't have a robust market. But most of those teams are hoping to see Snell's contract demands drop.

Outside of Snell, Jordan Montogmery is the only other top-tier free agent pitcher still available in free agency, and all signs point to him rejoining the Texas Rangers at some point.

Padres fans can focus on the Compensatory Draft pick they'll receive for both Snell and Josh Hader. The pair of lefties both rejected San Diego's Qualifying Offer, meaning the Friars will receive two additional picks in the 2024 MLB Draft. But because San Diego exceeded the Competitive Balance Tax threshold in 2023, those two picks will come after the fourth round in this year's draft.