Major League Baseball Qualifying Offer Set at $21.05 Million

The Major League Baseball qualifying offer for the 2024-25 offseason has been set at $21.05 million, reflecting a $725,000 increase from the previous year. This figure is derived from the average annual salary of the top 125 players in the league. Teams must decide on these offers within five days after the World Series, and players can only receive a qualifying offer once in their career. Notably, the Chicago Cubs have opted not to extend qualifying offers to any of their impending free agents, while several high-profile players, such as Juan Soto and Alex Bregman, are expected to be offered this contract by their respective teams. The system is designed to allow teams to receive compensatory draft picks if a player signed elsewhere declines the offer. Historically, the acceptance rate for qualifying offers has been low, with none of the offers made last season accepted.