Texas Rangers Ace Nathan Eovaldi Declines Player Option, Becomes Free Agent

Nathan Eovaldi had a $20 million player option for the 2025 season, but he has opted to hit the open market rather than take the short-term payday from the Texas Rangers.

Sep 24, 2024; Oakland, California, USA; Texas Rangers starting pitcher Nathan Eovaldi (17) delivers a pitch against the Oakland Athletics during the first inning at Oakland-Alameda County Coliseum. / Neville E. Guard-Imagn Images

Right-handed pitcher Nathan Eovaldi has declined his $20 million player option with the Texas Rangers, general manager Chris Young told reporters Monday.

Eovaldi signed a two-year, $34 million contract with the Rangers ahead of last season, featuring a vesting player option that would kick in if he cleared 300.0 innings pitched across 2023 and 2024. Even though Eovaldi wound up tossing 314.2 innings, he has opted to re-enter free agency and try his luck for an even bigger payday.

Young confirmed that the Rangers have a lot of interest in bringing Eovaldi back into the fold.

RHP Nathan Eovaldi declined his player option with the Rangers this morning. He'll become a free agent. Chris Young said the club still has a lot of interest in bringing him back.

— kennedi landry (@kennlandry) November 4, 2024

Eovaldi went 12-8 with a 3.80 ERA, 1.107 WHIP, 166 strikeouts and a 2.3 WAR in 2024, following up on a 2023 campaign in which he went 12-5 with a 3.63 ERA, 1.139 WHIP, 132 strikeouts and a 3.1 WAR. On top of making the All-Star Game last season, Eovaldi also won a World Series ring and went 5-0 with five quality starts and a 2.95 ERA in the postseason.

That wasn't anything new for Eovaldi, who had previously strung together impressive playoff runs with the Boston Red Sox in 2018 and 2021. Across 17 career postseason appearances, Eovaldi is 9-3 with a 3.05 ERA, 1.042 WHIP and 9.3 strikeouts per nine innings.

Eovaldi will be 35 years old by the time the 2025 season gets underway. His career earning already exceed $110 million, and that number could break $150 million if things break his way this winter.

According to Spotrac, the market value for Eovaldi's next contract is two years and $49.7 million.

The two-time All-Star and two-time World Series champion will be one of the most coveted starting pitchers in free agency this offseason, so it remains to be seen if Texas will shell out the big bucks to bring him back. Max Scherzer and Andrew Heaney have seen their contracts expire as well, potentially leaving the Rangers with some massive turnover to address in their rotation.

Jordan Montgomery also left via free agency last winter, leaving the oft-injured Jacob deGrom as Texas' lone remaining big name starter. Veteran Jon Gray and top prospects Kumar Rocker and Jack Leiter are all set to compete for rotation spots, regardless of who else comes or goes.

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