Do the Baltimore Orioles Loosen the Purse Strings in Free Agency This Offseason?

In the wake of a second straight early playoff exit, what hope do we have that the Orioles are committed to spend to win?

Nov 7, 2023; Scottsdale, AZ, USA; Baltimore Orioles general manager Mike Elias speaks to the media during the MLB General Manager's Meetings at Omni Scottsdale Resort & Spa. Mandatory Credit: Mark J. Rebilas-Imagn Images / Mark J. Rebilas-Imagn Images

The Baltimore Orioles were eliminated in their first playoff matchup for a second straight October, losing in this year's Wild Card round to the Kansas City Royals one season after losing in the Divisional Round to the Texas Rangers.

Whether or not the Baltimore Orioles will spend significant money in free agency this offseason to fix that is a legitimate question.

On one hand, the Orioles have shown that they can compete with their homegrown talent, emerging as a playoff contender thanks to stars like Adley Rutschman, Gunnar Henderson, and an impressive crop of young prospect talent. But if the Orioles want to maintain this momentum and make a deeper push for a championship, they may need to bolster their roster with external talent. This means venturing into free agency to add impact players who can complement their youthful core.

Historically, Baltimore has been conservative in free agency. The team’s rebuild was predicated on developing talent from within rather than signing high-priced veterans. General Manager Mike Elias has favored trades and minor acquisitions over massive free-agent deals or blockbuster trades, largely focusing on player development. This frugal approach has worked to this point, but it leaves fans wondering whether the team will finally loosen the purse strings to address key areas of need, particularly in starting pitching and perhaps a veteran bat for stability.

Another argument for optimism lies in the Orioles’ financial situation. Baltimore has maintained a relatively low payroll throughout the rebuild, and now that they’ve become a contender, they have the financial flexibility to spend. The team’s young stars are still under club control or arbitration, leaving room for some bigger contracts in free agency. It’s possible that the Orioles will look at the success of teams like the Texas Rangers, who supplemented their young core with major free-agent signings and rode them to a World Series title last year, and feel the need to take a similar step.

However, there are reasons to temper expectations. Despite the team’s low payroll, there’s no certainty from ownership that they are prepared to make the kind of splash that would land a top-tier free agent. The Orioles have not been major players on the free-agent market for years, and until we see a change in approach, skepticism is warranted. Baltimore may still prefer to rely on its pipeline of prospects, some of whom are ready to contribute at the big league level in 2025, despite the financial might of new billionaire owner David Rubenstein.

The largest financial outlays paid by this current front office during this recent run of competitiveness have barely been in the double digits of millions: A $15M free agency deal for reliever Craig Kimbrel, who was DFA'd in September, a $10M deal for starting pitcher Kyle Gibson prior to 2023, and arbitration salaries for starter Corbin Burnes ($15.6M) and slugger Anthony Santander ($11.7M). With salary escalators in the deals of trade acquisitions Zach Eflin ($18M salary in 2025) and DH Eloy Jimenez ($16.5M club option with a $3M buyout, half to be paid by the Chicago White Sox), there is reasonable cover for Elias to argue that payroll is increasing and the funds aren't there to be aggressive in free agency despite recent reports otherwise.

Ultimately, the question of whether the Orioles will spend big in free agency comes down to philosophy. Will they stick to their proven method of gradual development, or will they recognize the opportunity in front of them and invest in a few key pieces to chase a championship? For now, faith in their spending depends on how much trust you place in their willingness to change.