What happened: Pitcher Carlos Carrasco has elected free agency, according to a report surfaced via MLB Trade Rumors. The move puts the veteran right-hander on the open market rather than accepting an assignment.

Why it matters: Electing free agency lets a veteran control his next destination and gives contending and rebuilding clubs alike a low-cost rotation or bullpen option. For Carrasco, it marks another chapter for a durable arm who has logged many big-league seasons.

What to watch: Watch for which clubs show interest and whether Carrasco signs a major-league deal or a minor-league pact with a spring invite.