The appeal of Peralta is obvious. He’s a durable 29-year-old right-hander with a 3.30 ERA over the past five seasons, including a career-low 2.70 earned run average this past season (albeit with rate stats and field-independent numbers suggesting it’s more reasonable to expect a low 3.00 ERA than another sub-3.00 mark). Peralta is averaging almost 90 miles per hour on his heater, is missing bats at a high level, has only slightly worse-than-average command and, crucially, is only making $8 million next season. That’s his last year before free agency, but even if he’s a one-year rental, a team trading up young talent to acquire Peralta would know he’s likely to gain a 2027 draft pick because he’s a virtual lock to receive and decline a qualifying offer.
For luxury-paying clubs, Peralta’s modest salary is particularly attractive. That’s even more true for teams like the Yankees, Mets and Dodgers, who are expected to be in the top penalty division for at least the third consecutive season. These clubs essentially pay double for any subsequent additions to the payroll. The Dodgers are already in the highest tax bracket and would therefore have to pay a 110% tax on any new addition to the payroll. The two New York clubs fall just below the highest tax bracket, but even if they are in the third penalty level, they would be subject to a 95% tax. And both are so close to the threshold of the fourth level that Peralta would put them right up against it or push them over.
For the Braves and Red Sox, the penalties would be much less severe. Atlanta didn’t pay its taxes at all last year and is currently in the first tier of penalties. They would only take a 20% hit ($1.6 million) for adding Peralta’s salary to the ledger. The Red Sox would exceed the tax limit for the second straight season, as they were below the threshold in 2024. They are currently about $3 million behind on the tax cut. per RosterResource. As a second-time offender, they would pay a 30% tax on the first $20 million they exceed the limit. For Peralta, that would be just a hair over $1.5 million.
In terms of selection, it’s pretty easy to see how Peralta would fit into any of the clubs listed. Atlanta currently has Chris Sales, Spencer Strider, Spencer Schellenbach, Reynaldo López And Hurston Waldrep lined up as the likely top five. Sale, Strider, Schwellenbach and Lopez each missed time with injuries in 2025. Lopez started just one game. Sale missed more than two months with fractures in his rib cage. Schwellenbach’s season ended in late June when he suffered a fracture in his right elbow. Strider posted a 4.45 ERA in his first season back from UCL surgery. Waldrep was impressive as a rookie, but threw just 56 1/3 innings in the majors.
The Dodgers certainly don’t need more starting pitching, but the old adage of “there’s no such thing as too much pitching” applies to absolutely every club. Adding Peralta would further deepen the club’s October options. Yoshinobu Yamamoto, Blake Snell, Shohei Ohtani, Tyler Glasnow, Roki Sasaki, Emmet Sheehan And Justin Wrobleski give the Dodgers an embarrassment of riches, and high-upside younger poor like River Ryan, Gavin Stone And Kyle hurt are all recovering from operations in 2024. Top prospect Jackson Ferris isn’t far from MLB readiness. It’s a tight group, but the Dodgers probably don’t want to simply assume that all of their more established weapons will be healthy for the postseason. Bringing in another top-tier arm to join the group would further strengthen their picks as they pursue an elusive threepeat.
The Yankees have yet to make an addition to the big league roster, other than a new signing Ryan Yarbrough on a cheap one year deal and selecting righty Cade Winquest of the Cardinals in the Rule 5 Draft. Of Carlos Rodon, Gerrit Kool And Clarke Schmidt all assessed to open the season on the injured list, they could use some rotation help. The Mets, meanwhile, have removed more big names than they added this winter. President of baseball operations David Stearns knows Peralta well from his days in Milwaukee. The current Mets rotation relies heavily on rebounds from Kodai Senga And Rome Petson as well as notable steps forward over prospects such as Jonah Tong And Brandon Sproat. The Red Sox added Son Gray And Johan Oviedo to what was already a pretty deep mix, but Peralta would be a clearer number 2 option behind ace Garrett hook then Gray or right-handed Brayan Bello.
Other teams have certainly shown interest in Peralta. Earlier in the offseason it was reported that the Astros had been looking at him, but they have since added this Mike Burrows in a trade and Tatsuya Imai in free agency. The Orioles have also expressed interest, although Baltimore has taken over Shane Baz and re-signed Zach Eflinthus reducing at least some urgency. (Peralta would still be a notable and necessary upgrade at the top of the staff.) Athletic’s report notes that some lower-wage clubs are also looking at Peralta, given that his $8 million price tag is affordable for any team.
Broadly speaking, it makes sense that every 2026 sports postseason hopeful has probably at least assessed the asking price for Peralta. Rosenthal and Sammon suggest that a major league-ready starting pitcher will most likely be a starting point in any discussions about Peralta. Milwaukee won an MLB-best 97 games in 2025 and is therefore seen as the favorite in the NL Central. The Brewers know they could also get a compensatory pick in the 2027 draft if and when Peralta leaves via free agency. They are an income recipient that doesn’t pay the luxury tax, so that pick would come at the end of the first round. That sets a pretty reasonable baseline to cross in any trade negotiations, and targeting MLB-ready help for a win-now club is only natural.
A Peralta transaction should not be viewed as likely. Milwaukee brass has publicly downplayed the possibility, but the Brewers will never completely close themselves off to trading notable stars as they approach free agency. Milwaukee acted Corbin Burnes, Devin Williams And Josh Hader finally at the end of their original windows of club control. However, the Brewers also held on Willy Adames for the 2024 season, knowing he would likely turn down a qualifying offer and leave via free agency, which is exactly how things played out. Retaining Peralta would give Milwaukee a deep and talented rotation that he would be joined by Brandon Woodruff, Jacob Misiorowski, Quinn Priester And Chad Patrickwith depth options included Logan Henderson, Tobias Myers and former top prospect Robert Gassercoming back from Tommy John surgery.
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