The Angels made a qualifying offer to Raicel Iglesias ahead of Sunday’s deadline, which gives him about 10 days to accept a one-year deal worth $18.4 million.
If Iglesias declines the offer, the Angels can still re-sign it. If he signs elsewhere he will receive a draft pick as compensation.
The Angels would likely like to sign Iglesias, who will be 32 next season, for a multi-year deal at an annual salary of less than $18.4 million. If the Angels keep their payroll at roughly the same level in 2022 as it was in 2021, they’ll have about $50 million to spend this winter.
Monday is the first day that teams can sign free agents from any team, so Iglesias will be free to negotiate with all 30 teams. Monday is also the start of the General Managers’ Meeting in Carlsbad.
Last season Iglesias recorded 34 saves in 70 innings with an ERA of 2.57, scoring 103 runs and scoring 12 runs. He recorded eight saves out of at least four outs, ranking second among the majors.
Chicago White Sox reliever Craig Kimbrel, coming off a season in which he was an All-Star and posted a 2.26 ERA, just picked up his option for $16 million.
Liam Hendrix, who signed a free agent deal with the White Sox last year, has an average annual value of $18 million on his three-year deal. His $15 million option buyout for the fourth year is also $15 million, effectively making it a four-year, $52 million deal. This average annual value is $13 million.
Given those recent comps, the $18.4 million salary for Iglesias is likely to exceed his value on the open market.
By making Iglesias a qualifying offer, the Angels could slightly reduce his value to the other teams, as they also dropped the draft pick to sign him.