Why Jordan Montgomery may wait until the season starts to sign
As this incredibly slow offseason has dragged on, much attention has been paid to the free agents who remained unsigned into February and March. There were many players in this group but a lot of attention was paid to the so-called “Boras Four,” which consisted of Cody Bellinger, Matt Chapman, Blake Snell and Jordan Montgomery.
The attention was understandable as they were the highest-profile of the guys languishing in the open market. At the start of the offseason, just about every outlet that predicts such things pegged those four to get lengthy nine-figure pacts. But as the winter dragged on towards the spring, many teams claimed to be at their spending limits, either due to uncertainty around TV revenue or competitive balance tax implications.
In recent weeks, three of those four players have pivoted to short-term deals with fairly high average annual values and opt-outs. In each case, the player can pocket a sizeable salary and then return to the open market in the future if they feel the chance of netting a mega pact will be better.
Bellinger returned to the Cubs on a three-year, $80M deal, in which he can opt out after each of the first two seasons. Chapman got three years and $54M from the Giants, also with opt-outs after the first two years. Snell will join Chapman in San Francisco after signing a two-year, $62M deal that will let him opt out after this coming season.
Montgomery’s situation is slightly different than those three in one way. The other three received and rejected a qualifying offer at the end of the 2023 season, meaning they were tied to signing penalties this winter. The penalties vary depending on whether the team is a revenue-sharing recipient or a competitive balance taxpayer, but a club has to forfeit one draft pick at minimum, sometimes two picks and also international bonus pool space. Players can only receive one QO in their career, so they won’t have to worry about those penalties in future trips to free agency.
Montgomery is in the opposite situation. He has yet to receive a QO and would not currently require a signing team to forfeit anything. Players are only eligible for a QO if they spend the entirety of the just-completed season with the same club. Since the lefty was traded from the Cardinals to the Rangers in the middle of the 2023 campaign, he wasn’t eligible to get a QO coming into this offseason.
That makes it somewhat complicated for him to consider the short-term, opt-out-laden pacts that the other Boras guys settled for. While they all just shed their QOs and will be free from them going forward, Montgomery is currently free but could be in position to be saddled with a QO down the road. As recently as March 8, he was reportedly holding out hope of landing a lengthy seven-year deal. The fact that he remains unsigned suggests that he never got it and it’s hard to see a team making that kind of plunge at this late stage of the offseason.
