Latest On Lucas Giolito – MLB Trade Rumors

Right-hander Lucas Giolito had a pretty good year with the Red Sox in 2025 but it ended on a frustrating note as he wasn’t included on Boston’s postseason roster due to an elbow injury. Even before the Sox were eliminated, manager Alex Cora said Giolito was most likely not going to be coming back this year. Today, Chris Cotillo of MassLive provided an update on the righty’s status. Giolito has been on a throwing program with one source telling Cotillo that Giolito is “100%” while another source said Giolito is “making improvements.”

Giolito’s status is noteworthy at this stage of the offseason as he is about to return to free agency. He originally signed with the Red Sox ahead of the 2024 season, a two-year deal worth $38.5MM. Giolito had a chance to opt out of that deal after 2024 but he ended up missing that entire season due to UCL surgery, so he naturally decided to stay with Boston for the second season.

By foregoing that opt-out chance, he gave the Red Sox a $14MM club option for 2026. However, he could convert that to a $19MM mutual option by pitching 140 frames in 2025. He got to 145 frames this year, successfully converting it. Mutual options are almost never picked up by both sides, with the last instance being more than a decade ago at this point. As such, Giolito will almost certainly get the $1.5MM buyout instead.

There’s a long winter ahead but Giolito’s health in the near term is important. As pointed out by Cotillo, the Sox have until five days after the World Series to decide whether or not to issue Giolito a qualifying offer, which is a one-year deal worth $22.025MM. That’s roughly what the Sox have been paying Giolito annually on his two-year deal, so it’s not a huge spike.

However, there are reasons why the Sox may not feel comfortable with continuing to pay Giolito a salary in that range. The obvious one is the elbow. It has been previously reported that Giolito has no UCL damage but does have flexor irritation and a bone issue. If the Sox felt that injury could linger into 2026, then they may prefer to walk away.

The other issue is Giolito’s performance. The Sox initially bought low on him. He was a borderline ace a few years ago, earning Cy Young votes in three straight years from 2019 to 2021. But his ERA spiked to just under 5.00 in both 2022 and 2023. Even in those poor seasons, he struck out more than 25% of batters faced. That was a drop from his peak, when he was striking out around 33% of opponents, but it was still above average.

In 2025, Giolito managed to finish strong in the ERA department but without getting his strikeouts back. He had a solid 3.41 ERA for the year overall. He had a rough 6.42 ERA through seven starts but then an excellent 2.51 ERA over his final 19 starts. However, even in that latter sample, he was only punching out 20.3% of opponents. For reference, the average strikeout rate for a starting pitcher in 2025 was 21.8%. That figure is probably inflated a bit by the use of openers, but Giolito’s rate is still fairly middling.

The other issue is that the reward for making a QO may be lesser than in the past. The Sox got the 75th overall pick in the 2025 draft when Nick Pivetta rejected a QO and signed with the Padres last offseason, but that was after a year in which the Sox did not pay the competitive balance tax. Both RosterResource and Cot’s Baseball Contracts estimate that the Sox went slightly over the tax line in 2025. Those are unofficial estimates, but if they are accurate, then the QO compensation pick would fall to after the fourth round of the draft if Giolito were to reject a QO and sign elsewhere.

Giolito likely would have started a playoff game for the Sox if he were healthy. He and Brayan Bello were the most established options behind ace Garrett Crochet. Instead, Bello and rookie Connelly Early made starts alongside Crochet. Cotillo suggests the Sox are quite happy with Giolito, including as a veteran clubhouse leader. Even with some concerning numbers and the lesser benefit from making the QO, perhaps they will do it anyway if they would be happy for him to accept. Though even if they like Giolito, they may not want to tie up $22.025MM of their budget just as the offseason is beginning, especially if Giolito’s elbow is still an issue.

A bit of progress in the next few days could increase Boston’s willingness to issue the QO. It may also increase his willingness to turn it down and explore the market. Even if they do offer it, he gets a couple of weeks to talk to other teams and gauge his market before making his decision on the QO. His market with non-Boston teams will depend both upon his health and whether or not he is attached to a QO.

Photo courtesy of Eric Canha, Imagn Images