The Cubs declined Imanaga's three-year, $57.75 million option Tuesday, Jesse Rogers of ESPN.com reports.

The team deciding against picking up Imanaga's three-year option triggered a $15.25 million player option, which the pitcher also declined, making Imanaga a free agent. It's unclear whether the Cubs intend to make the southpaw a one-year, $22.025 million qualifying offer. Imanaga held a 4.70 second-half ERA and 8.10 ERA in two postseason starts, and his strikeout rate dipped to 20.6 percent in 2025. However, with a 3.28 ERA, 1.00 WHIP and 291:54 K:BB over 318 regular-season innings since the beginning of the 2024 campaign, Imanaga will draw plenty of interest on the free-agent market.

Dobbins (knee) has been cleared to start a full throwing program, the pitcher revealed on his X account Monday.

Dobbins blew out the ACL in his right knee in mid-July and had surgery, but he's expected to have a normal offseason and show up to spring training without restrictions. The right-hander posted a 4.13 ERA and 45:17 K:BB through 61 innings with the big club in 2025 and could compete for a spot in Boston's 2026 rotation.

Bubic (shoulder) has been cleared to begin a throwing program in November, MLB.com reports.

Bubic missed nearly all of the second half after being diagnosed with a left rotator cuff strain, but he avoided surgery and is ready to resume throwing. While the left-hander currently appears on track for a normal offseason, the nature of the injury points to Bubic being a risky health proposition. The 28-year-old was having a breakout season before getting hurt, putting up a 2.55 ERA and 116:39 K:BB over 116.1 innings covering 20 starts.

Bergert (elbow) was cleared in November to begin a throwing program, MLB.com reports.

Bergert missed the last couple weeks of the regular season with a right elbow strain, but he's fully recovered and will enter spring training without limitations, barring any setbacks. The 25-year-old posted a 3.66 ERA, 1.26 WHIP and 73:35 K:BB across 76.1 innings in 2025 between the Padres and Royals and will have a chance to open the 2026 campaign in the major-league rotation.

Woodruff (lat) became a free agent Monday after declining his $20 million mutual option for 2026, Todd Rosiak of the Milwaukee Journal Sentinel reports.

The option came with a $10 million buyout, leaving Woodruff with an easy decision to decline it. Woodruff posted a 3.20 ERA, 0.91 WHIP and 83:14 K:BB over 64.2 innings covering 12 regular-season starts in 2025 before going down with a right lat strain in late September. He's expected to be ready for spring training. The right-hander will turn 33 in February and represents a high-risk, high-reward option on the free-agent market.

The Brewers exercised Peralta's $8 million option for 2026 on Monday, Todd Rosiak of the Milwaukee Journal Sentinel reports.

The Brewers picking up Peralta's option was a given. The big question is whether they will trade their ace this winter, as he's slated to reach free agency next offseason and highly unlikely to ink a long-term deal with Milwaukee. Peralta won a career-high 17 games while posting a 2.70 ERA, 1.08 WHIP and 204:66 K:BB over 176.2 innings covering 33 regular-season starts for the Brewers in 2025.

Giolito (elbow) declined the player side of his $19 mutual option for 2026 on Monday, Alex Speier of the Boston Globe reports.

He'll be paid a $1.5 million buyout instead. It's possible the Red Sox will extend Giolito a one-year, $22.025 million qualifying offer, and if that happens, there's a non-zero chance the right-hander accepts it. After missing the 2024 season following internal brace surgery, Giolito had a nice bounce-back 2025 campaign, posting a 3.41 ERA and 121:56 K:BB over 145 frames. However, his season ended in late September with elbow soreness, and while he was cleared of structural damage, the injury could affect his earnings potential this offseason.

The Rays activated Faedo (shoulder) from the 60-day injured list and designated him for assignment Monday.

Faedo never made an appearance at the major-league level for the Rays in 2025, having dealt with shoulder issues before eventually having thoracic outlet syndrome surgery in August. He's eligible for salary arbitration but could be non-tendered if he passes through waivers unclaimed.

Lorenzen will become a free agent after the Royals declined the mutual option in his contract Sunday, Anne Rogers of MLB.com reports.

Lorenzen will receive a $1.5 million buyout ahead of free agency. The right-hander appeared in 27 games, including 26 starts, with Kansas City in 2025, compiling a 4.64 ERA with 127 strikeouts over 141.2 innings. The 33-year-old owns a career 4.08 ERA and 7.5 K/9 over 11 major-league seasons, and he'll likely have plenty of interested suitors ahead of the 2026 campaign.

King declined his side of a $15 million mutual option for the 2026 season Sunday, making him an unrestricted free agent, Kevin Acee of The San Diego Union-Tribune reports.

Though he endured an injury-plagued 2025 campaign in which he compiled a 3.44 ERA over 73.1 innings and 15 starts before being moved to the bullpen for the Padres' postseason run, King will head to the open market for the first time in search of a multi-year contract. Despite a somewhat concerning health record, King shouldn't have too much trouble securing a big payday in free agency after submitting stellar ratios (3.10 ERA, 1.19 WHIP, 18.2 K-BB%) over the past two seasons with San Diego while making the full-time transition to the rotation.