MLB Winter Meetings live updates: Latest news, rumors and analysis as Yankees sign Nolan Arenado to 8-year, $218M deal

Just before dinner time on Day 2, the Winter Meetings finally began to pick up some steam.

Now that things are winding down for the night as teams break for meals or drinks or whatever else baseball executives do after a long day in Dallas, and there’s a sense of a hot stove that’s cooking again.

In quick succession, within the past few hours, the Draft Lottery results were announced (the Washington Nationals have the top pick), free agent Max Fried finally came off the board (a massive eight-year deal with the Yankees) and a substantial trade came together (Gold Glove second baseman Andres Gimenez to the Blue Jays).

The Fried signing was the biggest move in the nearly 48 hours since Juan Soto signed his mega-deal with the New York Mets (and it was the biggest pitching addition of the winter, so far). The Gimenez deal was the biggest trade since Jonathan India went to the Royals more than two weeks ago.

Maybe the course is set for an overnight surprise, but for now, we here at Live Blog headquarters are going to find some food — and maybe a drink — and we’ll catch you all in the morning for the third and final day of baseball’s Winter Meetings.

Jurickson Profar is a free agent after surprising everyone with a 4.3-fWAR season. Kyle Higashioka signed with the Rangers after delivering a career high in home runs. While the Padres could return Xander Bogaerts to shortstop to cover for Ha-Seong Kim’s departure, the team could use a first baseman and/or designated hitter with some pop. Meanwhile, Joe Musgrove is out for 2025 after undergoing Tommy John surgery. So, the Padres need a left fielder, a catcher, infield insurance and plenty of pitching. They’d love to keep Profar. They’d love it even more if Roki Sasaki chooses them.

Trade candidates
The farm system is thin after another summer of Preller’s wheeling and dealing, and the Padres would much prefer to keep teenage prospects Ethan Salas and Leodalis De Vries. Preller traded Juan Soto last offseason to cut costs and balance the roster, and he could be compelled to pursue a similar strategy on a smaller scale with a veteran such as Dylan Cease or Jake Cronenworth. If the Padres can’t reach a relatively team-friendly extension with Luis Arraez, the batting champion could be another trade candidate ahead of a contract season.

Prospects on the verge
The Padres tend to push top prospects more aggressively than any other organization, but Salas could use at least another season of development after scuffling against significantly older competition in 2024. So could De Vries, another 18-year-old. Even in the unlikely scenario that one or both players are called up before the end of 2025, significant patience would be required. The organization’s less-heralded, upper-level prospects include catcher Brandon Valenzuela, outfielder Tirso Ornelas and pitchers Henry Baez, Omar Cruz, Francis Pena and Bradgley Rodriguez. While the Padres wait on Salas and De Vries, there isn’t another Jackson Merrill in the system.

One big question
How much appetite, if any, does Padres ownership have for spending on additions to the team? Between raises and projected arbitration salaries, the payroll estimate already is above $200 million — up from about $170 million at the end of the 2024 season — and that’s before the Padres address the various holes on the roster. The Padres appeared to regain significant momentum this year while averaging a sellout per home game. Now, another budget crunch could stall the franchise’s pursuit of a title.