The Nationals acquired Perales from the Red Sox on Monday in exchange for Jake Bennett, Jeff Passan of ESPN.com reports.

It's a prospect-for-prospect trade. Perales missed a large chunk of 2024 and nearly all of 2025 while recovering from Tommy John surgery, but he's wowed with his stuff since returning, regularly reaching triple digits with his fastball. The 22-year-old has thrown a total of 9.2 innings beyond A-ball and has a career 12.3 percent walk rate in the minors, but Perales' upside is huge.

Bennett was traded from the Nationals to the Red Sox on Monday in exchange for Luis Perales, Jeff Passan of ESPN.com reports.

Bennett pitched well during the 2025 season in his first year back since Tommy John surgery, posting a 2.56 ERA and 1.13 WHIP with 33 strikeouts across 45.2 innings at Double-A. He's yet to pitch above the Double-A level, so it wouldn't be a surprise to see him begin the 2026 campaign in Portland now that he's joined Boston's farm system. Chief baseball officer for the Red Sox, Craig Breslow, is clearly high on the southpaw. "We feel like Bennett is a high probability starter that excels in some things that are hard to teach," said Breslow, per Chris Cotillo of MassLive.com. "Fastball playability driven by above average extension and strike throwing ability. His whiff rates and ability to manage hard contact have us confident in his ability to be a major league starter."

The Blue Jays signed Plassmeyer to a minor-league contract Dec. 6.

Plassmeyer spent all of the 2025 season at Triple-A Round Rock in the Rangers organization, posting a 4.43 ERA and 99:34 K:BB over 105.2 innings while splitting time between the rotation and bullpen. It's unclear what role the Blue Jays have in mind for the southpaw, but he's likely headed to Triple-A Buffalo to begin the 2026 season.

Darvish (elbow) said Monday that he's unsure whether he will continue his baseball career after completing rehab for his November UCL repair with an internal brace and flexor tendon surgery, Dennis Lin of The Athletic reports.

Darvish will miss the entire 2026 season and will be 40 years old heading into the 2027 campaign. He's owed $30 million between 2027 and 2028, so while he has financial incentive to continue pitching, the right-hander is currently focused on his rehab and will make a decision about his playing career at a later date. Darvish posted a 5.38 ERA and 68:19 K:BB over 72 regular-season innings covering 15 starts for the Padres in 2025.

Kelly agreed to a two-year, $40 million contract with the Diamondbacks on Sunday, Ken Rosenthal of The Athletic reports.

The 37-year-old right-hander was dealt by the Diamondbacks to the Rangers at the trade deadline in July, and he'll now return to the desert for an eighth season. Kelly should step back in as Arizona's ace after posting a 3.52 ERA, 1.11 WHIP and 167:48 K:BB across 184 innings last season.

May signed a one-year contract with the Cardinals on Saturday that includes a mutual option for 2027, Jeff Passan of ESPN.com reports.

May set a new career high with 132.1 innings pitched between the Dodgers and Red Sox in 2025, though his 4.96 ERA and 1.42 WHIP in the regular season both marked significant regression from previous years. Despite his recent struggles, the 28-year-old righty should have little trouble claiming a spot in a Cardinals rotation that doesn't feature much depth following the departure of Sonny Gray.

Frasso (undisclosed) signed a minor-league contract with the Dodgers on Saturday, Aram Leighton of JustBaseball.com reports.

After turning in a 5.49 ERA and 1.58 WHIP over 77 innings at Triple-A Oklahoma City this past season and being non-tendered by the Dodgers in November, Frasso will officially return to the organization for 2026. The 27-year-old is still waiting on his first promotion to the majors, but he will likely need to show significant improvement in the minors before getting called up for his MLB debut.

The Nationals and Gray (elbow) avoided arbitration by agreeing to a one-year, $1.35 million contract Friday, Andrew Golden of The Washington Post reports.

Gray was limited to three rehab starts this season as he returned from UCL surgery and will receive the same salary he got in 2025. The right-hander is expected to be ready to go at the start of spring training, though he will likely face workload restrictions in 2026 after throwing a combined 35 innings over the previous two seasons.

Olson (shoulder) was scheduled to begin a throwing progression this week, Evan Petzold of the Detroit Free Press reports.

Olson missed the final two month of the regular season and the playoffs with a right shoulder strain, but he is expected to be ready to go for the start of spring training. The right-hander has dealt with injury issues but has been effective when on the bump, boasting a career 3.60 ERA and 269:91 K:BB over 284.2 regular-season innings since 2023.

Cubs manager Craig Counsell confirmed this week that Steele (elbow) will not be ready for the start of next season, Patrick Mooney and Sahadev Sharma of The Athletic report.

Steele underwent UCL revision surgery on his left elbow in mid-April, so it's not a surprise that he'll be in line for a stint on the injured list to begin the 2026 season. Counsell noted that the team will have a better idea as to a timetable for the left-hander in spring training, with the skipper noting that "I think it will be the first half of the season." Steele has collected a 3.18 ERA over 82 regular-season starts since the beginning of the 2022 campaign.