LCincinnati Reds pitcher Nick Martinez has chosen to accept a $21.05 million qualifying offer, opting to remain with the team rather than explore free agency. The 34-year-old right-hander was one of 13 players who received qualifying offers from their former teams on November 4. Players have until 4 p.m. EST on Tuesday to make their decisions.
Martinez’s agent, Scott Boras, confirmed that his client had informed the Major League Baseball Players Association of his decision. The union will officially notify MLB of all players’ responses to the qualifying offers.
The qualifying offer, established in 2012, represents the average salary of the 125 highest-paid players from the previous season. Before this offseason, only 13 of 131 such offers had been accepted. A player can only be extended a qualifying offer once, meaning Martinez will be eligible for free agency next offseason without any draft-pick compensation attached.
Martinez, who signed a one-year, $14 million contract with the Reds last December, declined a $12 million player option for 2024. He delivered a strong 2023 season, finishing 10-7 with a 3.10 ERA across 16 starts and 26 relief appearances. He struck out 116 batters and walked only 18 over 142 1/3 innings.
Over his seven-year MLB career, Martinez has compiled a 37-45 record with a 4.09 ERA. His career includes stints with the Texas Rangers (2014–17), San Diego Padres (2022–23), and the Reds. Martinez also spent four seasons (2018–21) pitching in Japan before returning to the majors.
The Broader Market for Qualifying Offers
Other players who received qualifying offers this offseason include Yankees outfielder Juan Soto, Orioles right-hander Corbin Burnes, and Red Sox right-hander Nick Pivetta. Additional recipients include Astros third baseman Alex Bregman, Braves left-hander Max Fried, Dodgers outfielder Teoscar Hernández, and Mets first baseman Pete Alonso.
Players who decline qualifying offers and sign with a new team will cost their acquiring club at least one amateur draft pick and, in some cases, international signing bonus pool allocation. Meanwhile, the team losing the free agent will receive a compensatory draft pick.
Martinez’s decision to stay with the Reds solidifies a key rotation piece for Cincinnati as they look to build on their 2023 campaign.