The Cincinnati Reds have agreed to a two-year, $26 million deal with right-hander Nick Martinez, according to sources.

The pact includes an opt-out after the first season.

Martinez, 33, opted out of the final two years of his contract with the San Diego Padres. He pitched 54 games out of the bullpen but thrived over nine starts, posting a 2.32 ERA in 42 2/3 innings.

The contract will pay Martinez $14 million next season and $12 million in 2025 if he opts into the second year.

Speedy utilityman Garrett Hampson and the Kansas City Royals agreed Wednesday to a one-year contract, the team announced.

The deal is for $2 million, sources told ESPN's Jeff Passan.

Hampson started at six positions last season for Miami and batted a career-best .276 with three homers, 23 RBIs and a .729 OPS in 98 games.

Right-hander Luis Severino and the New York Mets on Wednesday agreed to a one-year, $13 million contract, sources told ESPN, sending the longtime Yankee to a Mets team that plans to spend its winter upgrading a depleted rotation.

Severino, 29, had spent all of his eight-year career with the Yankees, including a rough 2023 in which he posted a 6.65 ERA over 89⅓ innings. Still, the free agent market has set the price of veteran starting pitchers at $10 million-plus a year -- and Severino's past success bought him slightly more.

The Milwaukee Brewers are discussing a contract extension with outfield prospect Jackson Chourio, according to a report.

Though the deal isn't complete, the report states it will set a new benchmark for an extension signed by a player with no Major League experience.

Chourio, 19, spent most of the 2023 season at Double-A. He hit .280/.336/.467 with 22 home runs and 43 stolen bases.

He received a late promotion to Triple-A and got into six games there.

The St. Louis Cardinals have agreed to a deal with free agent pitcher Sonny Gray, according to ESPN and multiple reports.

Gray, 34, joins a revamped Cardinals rotation that also includes recent free agent additions Lance Lynn and Kyle Gibson.

Outfielder Jason Heyward is returning to the Los Angeles Dodgers on a one-year deal for $9 million, sources told ESPN on Monday.

The deal is pending a physical.

Right-hander Kenta Maeda and the Tigers agreed Sunday on a two-year, $24 million contract, lengthening Detroit's rotation as it hopes to improve on a 78-84 finish in the winnable American League Central, sources familiar with the deal told ESPN.

Maeda, who will be 36 two weeks into the season, joins a Tigers team that went 39-34 in the second half and had a positive run differential, matching their win total in 89 first-half games. 

Veteran shortstop Paul DeJong has agreed to a deal with the Chicago White Sox, sources told ESPN's Jesse Rogers on Tuesday.

The one-year agreement is pending a physical, which is expected to be completed next week.

One day after signing pitcher Lance Lynn, the St. Louis Cardinals have reached an agreement with righty Kyle Gibson on a one-year, $12 million deal which includes a team option, sources familiar with the deal confirmed to ESPN.

Gibson, 36, spent last season with the Baltimore Orioles, going 15-9 with a 4.73 ERA in 33 starts.

While keeping up their search for starting pitching, the Atlanta Braves added another reliever to their bullpen Monday by agreeing to $30 million, three-year contract with right-hander Reynaldo López.

The deal calls for López to make $4 million in 2024 and $11 million in the next two seasons. There is an $8 million club option for 2027, with a $4 million buyout.