A promising start to the season was derailed by a franchise-record 12-game losing stream early in the summer. That led to another deadline spent doing more selling than buying, but the Marlins’ short-term outlook is increasingly bright thanks to some breakthrough performances in 2026.

Guaranteed Contracts

• None

Other Financial Obligations

• $20MM total owed to Yankees as part of 2017 Giancarlo Stanton trade, $10MM each in 2027 and 2028

Option Decisions

• Sandy Alcantara, RHP: $21MM club option ($2MM buyout)

Arbitration-Eligible Players (service time in parentheses)

• Anthony Bender (5.153)
• Andrew Nardi (4.053)
• Max Meyer (3.166)
• Calvin Faucher (3.156)
• Eury Pérez (3.113)
• Otto Lopez (3.109)
• Tyler Zuber (3.104)
• Esteury Ruiz (3.064)
• Xavier Edwards (3.034)
• Victor Vodnik (3.024)
• Kyle Stowers (3.012)
• Non-tender candidates: Nardi, Zuber, Ruiz

Free Agents

• Pete Fairbanks

Though many teams who missed the postseason will see sweeping changes in the dugout and/or front office, that’s not the case with Miami. President of baseball operations Peter Bendix enters his third offseason on the job, and he’s already announced that manager Clayton McCullough will return for the 2027 campaign. There will be at least one change on McCullough’s staff, as hitting coach Pedro Guerrero will not be brought back. Bendix made the announcement at his end-of-season press conference, praising Guerrero but voicing his belief that it was also “time for a new voice in the hitting space.”

The roster itself doesn’t present many immediate, difficult decisions. The Marlins’ perpetual frugality has left them in a position where they don’t have a single guaranteed contract on the books for the 2027 campaign. That’ll change as soon as the World Series ends, of course. Miami’s top starter, Sandy Alcantara, has a $21MM club option that will be exercised right out of the gate. The former NL Cy Young Award winner has been the subject of innumerable trade rumblings over the years, but beyond his excellent rebound from a missed 2024 season and down showing in 2025, Alcantara is a franchise icon and favorite of owner Bruce Sherman. The Marlins have no plans to trade him this winter, and Alcantara has repeatedly gone on the record to voice his love for the city and organization.

If anything, Alcantara now feels more like an extension candidate than a trade candidate. Miami’s long-term books are clean, there are some encouraging young players up and down the big league roster, and Alcantara has bounced back to a high-quality starter with just one more year on his contract. He’s voiced a desire to stay with the Marlins long term. It’d be surprising if the two parties didn’t discuss the potential of another long-term deal at some point this winter, so let’s take a look at what such a contract might cost the Fish.