What happened: Yahoo MLB lists Freddy Peralta as a possible free-agent target for the St. Louis Cardinals. St. Louis traded Sonny Gray last offseason and signed Dustin May to fill the spot. Peralta, who finished the year with the Tampa Bay Rays after the trade deadline, is now a free agent.

Why it matters: Yahoo's case is that Peralta resembles May a year ago: a pitcher coming off a down season who may only command a one-year or modest two-year deal. St. Louis is bringing back its full rotation, but Andre Pallante or Matthew Liberatore could be traded, and Liberatore could move to the bullpen. Cooper Hjerpe would likely face an innings limit, and Richard Fitts threw 75 innings in 2025.

What to watch: Free agency begins at 5 p.m. ET, per ESPN 1000. Whether St. Louis re-signs May or adds another starter will show how it plans to build the rotation.