
Will he or won’t he?
That is the question for fans of the Milwaukee Brewers to fret over this offseason regarding where pitcher Freddy Peralta will call home in 2026.
In fact, that is turning out to be the top priority for Brewers GM Matt Arnold to tackle as he begins the process of shaping the upcoming season’s roster.
Keeping the 29-year-old flamethrower, who has spent all eight of his MLB seasons in Milwaukee, definitely has its advantages, especially after his 2025 season.
The fan-favorite Peralta registered his third straight campaign in which he struck out more than 200 batters, and his 17 victories were tops in the National League. For his efforts, he finished fifth in the NL Cy Young Award voting.
Peralta enters 2026 on the last year of his team-friendly contract; he is to earn $8 million next season before he is eligible for free agency. Does Arnold get out in front of it now and trade Peralta while interest is high, or wait and see how the Brewers fare before the trade deadline?
While a vast number of fans would elect to keep Peralta in the fold, there are two main reasons why Milwaukee should think seriously about dealing him sooner rather than later.
Unlike the big-market teams like the Los Angeles Dodgers and the New York Yankees, the Brewers need to spend their money wisely and with extreme caution. One poor financial decision could set them back and make them unable to contend for many seasons.
Arnold, who is entering his fifth season as general manager, has had a strong track record of making wise and prudent roster decisions. One such commitment was the re-signing of veteran starter Brandon Woodruff last month, who agreed to a $22 million qualifying offer to stay with the Brewers in 2026.
Milwaukee already has the makings of an outstanding and young starting rotation. With Woodruff, the rest of the starting five should consist of Robert Gasser, Jacob Misiorowski, Chad Patrick, Quinn Priester, and Logan Henderson, all of whom have big-league experience. All of those pitchers are 27 years old or younger.
Where does that leave Peralta? The young guns are not considered trade bait. It appears the Brewers brass chose to gamble on Woodruff and keep Peralta as an ace up their sleeve to dangle in front of other teams.
Among the teams most interested in Peralta, which, according to the Athletic, include Baltimore, Boston, San Francisco, and Houston, the New York Yankees appear to be the most likely trade partners.
Bleacher Report writer Zachary Rymer predicts a swap between the two teams, one that would bring Jazz Chisholm to the Brewers, which would fill Milwaukee’s need for a thumping bat.
“Do the Brewers really need Chisholm? Not if you’re a fan of Brice Turang, and who isn’t after his output of 10.3 rWAR across the last two seasons? Either Chisholm (to third base) or Turang (to shortstop) could change positions to accommodate this move, though, and it would promise to be worth the Brewers’ while for one reason: home runs,” he wrote. “The long ball was their offense’s only weakness in 2025, and that factored into an NLCS sweep by the Dodgers in which they got out-homered 6-to-1.”
Jeremy Nielsen, a reporter for Pinstripe Alley, feels that dealing for Peralta is worth the minimal financial risk.
“Ultimately the pros in Peralta’s profile outweigh the cons, and as an ostensible rental he shouldn’t come at a great cost to the Yankees in terms of prospects if a deal with consummated,” he explains. “The main uncertainty lies in whether the Brewers will be willing to send him off.”
With the state of their up-and-coming staff, Milwaukee may be more willing than not.
The proposed deal for Chisholm would make a big splash in the Brewers’ starting lineup, especially at hitter-friendly American Family Field. Another priority for Milwaukee in the offseason was to get more pop in their bats, and that would certainly fill the bill.
Arnold has had a history of acquiring major pieces to his puzzle through the trades of All-Star pitchers who were nearing free agency. In 2022, the Brewers traded closer Josh Hader to the Padres and got back Gasser and, eventually, catcher William Contreras in the deal.
Cy Young Award winner Corbin Burnes was shipped to the Baltimore Orioles, and Milwaukee received everyday shortstop Joey Ortiz and pitcher DL Hall in return. Last season, Devin Williams, who had fallen out of favor with loyal Brewers fans, was sent to the Yankees. In exchange, they sent back Caleb Durbin, who became a regular in the lineup and finished third in the NL Rookie of the Year balloting.
Arnold has proven to act proactively in situations like the one he faces with Peralta. If he acts now, he may continue to receive quality goods as a result.
Brewers manager Pat Murphy is hopeful yet realistic about the chances of retaining Peralta’s services.
“I think they know what they’re doing [in the front office],” he said. “My role is to take whatever guys we have. I hope Freddy is one of them.”
Peralta has made a name for himself through his successful career pitching for the Brewers. He has been loyal to the team, and he has been a pillar in the community, having been nominated for the prestigious Roberto Clemente Award in 2024.
Seeing how Major League Baseball is a business, Milwaukee must act with its head and not its heart when mulling over what to do with Peralta. The Brewers will have enough arms to be fine without him, and acting now would get them the most bang for the buck. The pure economics of baseball in a small market force the action of teams like Milwaukee before they get shut out of any compensation before free agency.
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