At first glance, the San Francisco Giants’ offseason feels underwhelming. No headline-grabbing ace. No nine-figure pitching deal to pair with Logan Webb. In a division dominated by the Dodgers’ star power and a Padres roster that still brims with talent, it’s easy to look at the Giants’ additions and wonder if they’ve done enough.

But as MLB Network’s Hot Stove discussion made clear, grading this offseason requires more context than a quick scroll through transaction logs.

The Giants did add pitching depth, bringing in right-handers Tyler Mahle and Adrian Houser to stabilize the rotation behind Webb.

These are not flashy moves. Mahle and Houser fall firmly into the “solid, but not great” category—arms that can give you innings, compete every fifth day, and prevent the staff from collapsing, but not pitchers who fundamentally change a franchise’s outlook. In isolation, that kind of approach feels conservative, especially in the NL West.

However, this offseason cannot be evaluated as a standalone event.

Over the previous 18 months, the Giants committed massive resources to reshaping their core. They extended Matt Chapman for more than $150 million near the end of the 2024 season. They signed Willy Adames to the largest contract in franchise history.

Then, during last season, they absorbed a 10-year, nearly $250 million commitment to Rafael Devers. Those are franchise-altering moves, and they still count—even if they didn’t happen this winter.

From that lens, the Giants’ strategy looks more like consolidation than complacency. The heavy lifting was already done. This winter has been about patching holes, not rebuilding the foundation.

That said, there are still legitimate concerns. The bullpen took a major hit when Camilo Doval and Tyler Rogers were traded to the two New York teams at the July deadline, and Randy Rodríguez’s Tommy John surgery in September likely sidelines him for all of 2026. If the Giants truly intend to contend this year, adding at least one reliable bullpen arm feels like a necessity, not a luxury.

There are also questions on the position-player side. Upgrading second base beyond Casey Schmitt, or finding a clearer solution in right field, remains on the wish list. Those needs haven’t been addressed yet.

League-wide perception matters too. According to the Hot Stove segment, rival teams don’t expect a late surge of major Giants moves. While plenty of notable free agents remain available, the sense around the league is that Buster Posey and the front office already made their biggest bets in prior seasons.

The Giants’ offseason isn’t exciting, but it’s defensible. They’ve added depth, preserved flexibility, and are still benefiting from massive investments made recently. If they supplement the bullpen and address one more lineup spot, this grade could rise. For now, it’s a solid—but unspectacular—winter that reflects long-term planning more than short-term splash.

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