The Orioles exercised Perez's $2.2 million club option for 2025 on Monday, Francys Romero of BeisbolFR.com reports.

Perez, 28, held a 4.53 ERA and 46:28 K:BB over 53.2 innings for the Orioles this season. He posted a 53.5 percent ground ball rate and didn't surrender a single home run over his 62 appearances.

Rangers president of baseball operations Chris Young said Monday that Sborz has been examined by multiple shoulder experts but has not yet made a decision on a course of action, Evan Grant of The Dallas Morning News reports.

Sborz dealt with a right shoulder problem off and on throughout the 2024 campaign and ended the season on the injured list with what the team simply referred to as shoulder fatigue. It would seem as though surgery could be one possibility Sborz is considering, although Young didn't divulge specifics in regards to what injury exactly the reliever is dealing with. With Kirby Yates, David Robertson and Jose Leclerc all becoming free agents, the health of Sborz is paramount.

The Red Sox exercised Refsnyder's $2.1 million club option for 2025.

Refsnyder was a useful platoon bat for the Red Sox again in 2024, slashing .283/.359/.471 with 11 homers over 93 games, which included a .941 OPS versus left-handed pitching. Boston currently projects to be very left-handed heavy again in 2025, so Refsnyder should be busy again as a short-side platoon outfielder.

The Yankees selected Trammell's contract from Triple-A Scranton/Wilkes-Barre on Sunday.

Trammell spent most of the 2024 season at Scranton/Wilkes-Barre, slashing .256/.381/.488 with 18 homers and 20 steals. He's hit only .167/.270/.363 with a 37.1 percent strikeout rate over parts of four major-league seasons, but the Yankees decided the 27-year-old was worthy of a 40-man roster spot heading into the offseason.

Wacha agreed to a three-year, $51 million contract with the Royals on Sunday that includes a $14 million club option for 2028, Jeff Passan of ESPN.com reports.

The right-hander was expected to decline his $16 million player option for 2025, but Kansas City utilized the exclusive five-day negotiating window after the World Series to secure a new deal. Wacha was a key rotation piece for the Royals during their 2024 resurgence with a 3.35 ERA, 1.19 WHIP and 145:45 K:BB over 166.2 innings.

Cole opted out of his contract with the Yankees on Saturday, Kiley McDaniel of ESPN.com reports.

The Yankees have the opportunity to void Cole's opt-out decision by adding an extra year and $36 million to his contract, which would result in him being owed $180 million through 2029. The 34-year-old posted a 3.41 ERA and 1.13 WHIP across 95 innings this season after missing the first couple months due to an elbow injury. There is no guarantee that New York will want to keep him around for such a hefty price.

Straw cleared waivers Friday and was sent outright to Triple-A Columbus.

Straw spent the vast majority of the season with Columbus, slashing .240/.321/.329 with 29 steals in 30 attempts across 434 plate appearances. Now that the 30-year-old outfielder no longer has a spot on the 40-man roster, it's unlikely he makes a significant contribution to the Guardians in 2025 -- barring a drastic turnaround at the plate.

The Yankees exercised Weaver's $2.5 million club option for 2025 on Friday.

In his first full season with the Yankees, Weaver turned in a 2.89 ERA and 0.93 WHIP across 84 innings -- a stark contrast from the 5.85 ERA and 1.51 WHIP he had accumulated over the previous four years. There's a chance he begins 2025 as New York's closer after moving into the role toward the end of the season.

The Rays exercised Lowe's $10 million club option for 2025 on Friday, Marc Topkin of the Tampa Bay Times reports.

It's possible the Rays will look to trade Lowe as his salary escalates, but picking up the option was a fairly easy call. They also have an $11.5 million club option for 2026. Lowe slashed .244/.311/.473 with 21 home runs over 425 plate appearances for Tampa Bay this season.

The Athletics outrighted Nevin to Triple-A Las Vegas on Friday, Martin Gallegos of MLB.com reports.

It's not the first time Nevin has been outrighted, so he can elect free agency if he wants. The 27-year-old has a career .204/.299/.315 slash line over parts of four major-league seasons.