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Red Sox are $32 million below CBT threshold; here’s what they could spend it on

February starts on Saturday. Truck Day is exactly one week away. Alex Cora and Craig Breslow will hold their opening media sessions of spring training in just about two weeks (on February 11) in Fort Myers.

Yes, the offseason, at least calendar-wise, is almost over. But that doesn’t mean the Red Sox should be done with their winter work. Even after revamping their pitching staff with the additions of Garrett Crochet, Walker Buehler, Aroldis Chapman, Justin Wilson and the injured Patrick Sandoval, Boston still has a bit of an incomplete roster in need of a right-handed bat and maybe some bullpen help. And at least theoretically, there’s still money to spend.

On November 20, team president/CEO Sam Kennedy told The Boston Globe that the club was “investing more than we did last year” in this year’s roster, “even if it takes us over the CBT,” opening the door to spend more than $241 million in payroll. Kennedy spoke of “an extreme urgency internally” to win 90+ games and compete for an American League East title in 2025. While the additions of Crochet, Buehler, Chapman and others will improve the team, spending — in large part because the addition of Crochet came via trade and he’s only making $3.8 million in 2025 — has been more measured. In terms of the CBT threshold, the Red Sox spent an estimated $226 million on payroll last year and as now, have just $209 million committed to their 2025 roster.

That leaves an estimated $32 million for the Red Sox to spend before hitting that first threshold of $241 million (though again, Kennedy said they’re willing to surpass it if need be). With only 14 of the top 50 free agents in this year’s class (per MLBTradeRumors’ rankings) still available, it’s getting harder by the day to envision the Red Sox the Red Sox reaching the threshold.

If they do spend, there are three main areas where they’re most likely to do so: right-handed offense, the bullpen and contract extensions. Here’s a look at what’s left out there:

RIGHT HANDED POP:

The two big names that have been linked to the Red Sox for months are Alex Bregman and Nolan Arenado. Both are readily available (Bregman as a free agent and Arenado on the trade market) and both are interested in coming to Boston. But the fact the Red Sox have been unable to make something happen to this point casts doubt on both possibilities.

Bregman is the cleaner fit as he’d almost certaintly take over at second base, a spot that is open with Vaughn Grissom and David Hamilton serving as immediate internal options and top prospect Kristian Campbell likely ready soon. But it’s clear Boston’s decision-makers are split making a real run at Bregman (manager Alex Cora is a huge fan and wants him) and recent reporting suggests the club won’t go past four years for him when other teams have longer deals on the table. The Astros are back in the mix for him, and after shedding salary by dealing reliever Ryan Pressly to the Cubs and publicly discussing a potential Jose Altuve move to left field, there’s a sense in the industry Houston is once again a favorite. The Tigers, Blue Jays and Cubs have been involved as well and Bregman appears to have better offers than what Boston’s willing to give him.

Bregman would cost north of $25 million per year, which would get the Red Sox close to that first $241 million threshold. So would a deal for Arenado, who the Cardinals are dying to move despite a full no-trade clause. Arenado has made it clear he would welcome a trade to Boston but the moving parts involved (Rafael Devers to first base? A Triston Casas trade?) make the fit look easier on paper than in reality. The Cardinals are motivated to move Arenado’s salary — the acquiring team would pay him $64 million over the next three years — so it’s possible the Red Sox could wait out that market, take on a huge chunk (or all) of the contract and simply shift Devers to designated hitter. It’s unclear if other teams remain involved on Arenado.

Beyond Bregman and Pete Alonso (a powerful right-handed bat who really does not fit the Red Sox because they have Casas at first), there’s not much left on the free agent market. But there are some cheaper guys still available who might fit Boston on a short-term deal. Randal Grichuk and Austin Hays remain unsigned and could serve as platoon outfield/designated hitter options who have the chance to provide some pop from the right side. A one-year deal for one of those guys would fit the recent righty rental spot filled by players like Hunter Renfroe, Adam Duvall and Tyler O’Neill. Stopgap second base options like Brendan Rodgers, Ha-seong Kim and Jorge Polanco are out there, too, but all come with some warts. And hey, old friends Justin Turner, Kiké Hernández and J.D. Martinez all hit right-handed, too.

The profile of someone like Cubs slugger Seiya Suzuki, who is making $38 million over the next two years (and accounts for a $17 million CBT hit) would be perfect and would fit the team as a DH/outfield depth option much more better than the left-handed hitting Masataka Yoshida. But the Cubs don’t seem inclined to move him even if a team like the Red Sox took on his entire salary (and make no mistake, Boston is able to).

BULLPEN ARMS:

The last couple weeks have been busy on the bullpen market with a lot of top options coming off the board. Still, it seems like there’s room for the Red Sox to add a reliable, veteran arm — likely from the right side — to add to a group that will include Liam Hendriks, Justin Slaten, Garrett Whitlock, Aroldis Chapman and Justin Wilson to start the year.

Carlos Estévez, David Robertson, Kyle Finnegan and Tommy Kahnle are probably the best fits out there with veterans like Phil Maton, Ryne Stanek and Spencer Turnbull making some sense as well. MLBTR’s pre-winter predictions had Estévez getting three years for $27 million, Robertson getting one year at $11 million and Kahnle getting two years at $13 million. A one- or two-year deal makes all the sense in the world for the Red Sox. Kenley Jansen remains unsigned and would actually be a good fit if the relationship between the team and player hadn’t turned horrendous by the end of September.

The Red Sox can also attack the trade market for a highly paid reliever whose team might want to shed money by moving him. Pressly actually would have been a great fit — the Cubs took on $8.5 million of his 2024 salary and sent a young lottery ticket-type prospect named Juan Bello to Houston for him — but the veteran had full no-trade rights and told the Astros he didn’t want to pitch on either coast. A similar deal, at a palatable price (a good chunk of money, but not a major prospect) for someone like San Diego’s Robert Suárez (owed $10 million in 2025 with a two-year player option), St. Louis’ Ryan Helsley (owed $8.2 million in his final year of free agency) and San Francisco’s Camilo Doval (available after a bad year) could make sense as well.

And here’s an outside-the-box way for a team with cash to burn (sorry, Jerod Mayo) to spend it: Nick Pivetta is still out there and the qualifying offer is clearly hurting his market. The Red Sox have seen him dominate in the late innings before and could be interested in a reunion if his market continues to struggle. His versatility is obviously a plus and Boston could provide a soft landing on a one-year deal if he wants to re-enter free agency without the QO attached next year.

EXTENSIONS:

Last year during spring training, the Red Sox significantly inflated their CBT total by signing Brayan Bello and Ceddanne Rafaela to long-term extensions that began in 2024. For example, Rafaela was supposed to make $743,500 but after signing, saw his CBT hit jump to $6.25 million (despite making $1 million in 2024). Expect similar jumps based on a deal or two getting done before Opening Day.

Garrett Crochet is the obvious top extension candidate on the roster and there’s believed to be strong mutual interest in hammering something out soon. If that happens, the average annual value/CBT on him will be much more ($20 million per year? $25 million per year?) than it is now ($3.8 million).

Boston could also could also have real talks about an extension with Wilyer Abreu, Kutter Crawford, Jarren Duran, Tanner Houck, Triston Casas and Justin Slaten though they’ve never gotten close with key guys like Duran, Houck and Casas in the past. They’re also interested in talking to players like Campbell, Roman Anthony and Marcelo Mayer before they make their debuts. Any of those deals would have big-time CBT ramifications in 2025.

In reality, these types of extensions, while important, are kind of a dressed-up, cop-out way for a team to get closer to the CBT threshold. They’re definitely in play.

ONE OTHER THOUGHT…

As of now, the Red Sox plan to have four rather inexperienced options in camp as backup catching options: Carlos Narvaez and Blake Sabol, who are both on the 40-man roster, as well as Seby Zavala and Mark Kolozvary, who are non-roster invitees with big league experience.

Boston could add some depth behind Connor Wong by adding a veteran free agent like Yasmani Grandal, Elias Diaz or James McCann. The club could also flex its financial might by turning toward an old friend. It’s another outside-the-box idea, but a trade with the Twins for Christian Vázquez would make some sense. At 34 (35 in August), Vázquez had a down year in 2024 but works well with pitchers and is a Cora favorite. Most importantly, he’s readily available because the Twins are looking to shed payroll and he’s worth $10 million in 2025, the final year of his three-year, $30 million contract from December 2022. The Red Sox are prioritizing defense behind the plate this year anyway.

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