New Price Tag Set
The price of a qualifying offer for this year's major league free agents rose 5.1% to $23.15 million from $22,025,000.
This figure is determined by the average of the top 125 major league contracts this year. Qualifying offers began after the 2012 season, starting at $13.3 million.
History of the System
The price dropped by $100,000 to $17.8 million in 2019, then rose to $18.9 million in 2020, fell $500,000 in 2021 and rose to $19.65 million in 2022, $20,325,000 in 2023 and $21.05 million in 2024.
Only 18 of 157 offers have been accepted since the system started. A record four players accepted last year from among the 13 who received offers, including Chicago Cubs left-hander Shota Imanaga, Milwaukee right-hander Brandon Woodruff, New York Yankees outfielder Trent Grisham and Detroit second baseman Gleyber Torres.
Rules and Eligibility
A free agent can be made a qualifying offer only if he has been with the same team continuously since opening day and has never received a qualifying offer before.
A qualifying offer can be made through the fifth day after the World Series, and a player has a week after that to accept. If a team makes a qualifying offer to a player who signs a major league contract with another club before the amateur draft, his former club would receive a draft pick as compensation at the end of the first round or at the end of competitive balance round B. The placement depends on the amount of the new contract and the revenue-sharing and luxury tax status of the team losing the player.
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