What happened: Tarik Skubal officially entered free agency for the first time in his career on Monday. Skubal heads the class as the premier starting pitcher available on the open market.

Why it matters: Early market projections value Skubal's next contract at up to $400 million. The impending expiration of Major League Baseball's collective bargaining agreement on Dec. 1 creates added urgency for clubs seeking front-line pitching to move aggressively.

What to watch: Free-agent negotiations open following the conclusion of the league's five-day quiet period. The Dec. 1 labor deadline serves as an immediate target for high-profile market movement.