Freddy Peralta has nearly lost the opportunity to command a lot of money in free agency. Should the Milwaukee Brewers pursue him?
In January, the Milwaukee Brewers chose to trade right-hander Freddy Peralta to the New York Mets for prospects Brandon Sproat and Jett Williams in an effort to get ahead of what was projected to be a big payday for Peralta following the 2026 season.
Now, is it possible for Milwaukee to reunite with him at a discount? Let’s review why Peralta is in this position in the first place:
A rough year
For Peralta, 2026 was supposed to capitalize on a dominant 2025 campaign in which he notched a 17-6 record with a 2.70 ERA across 33 starts. Had Peralta maintained his high level of production, he would have been able to command a premium contract.
Instead, the 30-year-old has struggled. In 22 starts with the Mets, he went 5-9 with a 4.99 ERA. Given the Mets’ overall struggles this season and Peralta’s lack of production, he was traded to the Tampa Bay Rays on Aug. 2.
Peralta has been slightly better with Tampa Bay, allowing only one run in his last 12 combined innings, but he has not been nearly the player he once was with the Brewers, and it has cost him a lot of money at this point.
Peralta’s free agency
In a recent top free-agent list by The Athletic's Jim Bowden, Peralta made the cut for the top-15 free-agent pitchers.
A year ago, he would have been at the top of the list, but now he is just in the mix. Bowden acknowledged Peralta’s precipitous drop in production and how badly it has hurt his standing in the free agent market, but pointed to his recent outings as reason to believe Peralta can regain an upward trajectory regarding his value.
However, if Peralta remains marginal in his capabilities, it could set up the Brewers for a reunion on a team-friendly deal while the former tries to prove his worth once again. It could be beneficial for the organization, as it prepares to potentially lose Dustin May, who can earn $20 million next season via a mutual option.
After dealing with paying Brandon Woodruff a $22 million player option this season, the Brewers might not want to sink that type of money into May. If Peralta is a cheaper option, bringing him back to supplement the starting rotation might be worth exploring.
Peralta was able to thrive in Milwaukee’s system, and he might be able to recapture that magic with another chance while helping the team.
