By Chad Jennings, Andy McCullough and Stephen J. Nesbitt

With a classic World Series behind us, it’s full steam ahead toward Hot Stove season.

This is the time of year when free agents hit the open market and future rosters begin to take shape. Kyle Tucker, Kyle Schwarber, Pete Alonso, Bo Bichette and Alex Bregman are available. So are Framber Valdez, Ranger Suárez and Dylan Cease. Smaller signings will start trickling in soon, and splashier ones will be coming together over the winter. Trade talks will commence, too. But before all that, it’s worth getting the lay of the league.

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As the back-to-back champs parade through downtown Los Angeles, let’s turn the page by ranking all 30 MLB teams entering the offseason. This list, which includes each team’s notable free agents and option/opt-out decisions, is our attempt at taking stock of the playing field at the outset of the offseason. We assessed teams as their rosters currently stand, making no assumptions about where free agents will land.

Here’s our last MLB Power Ranking in 2025, and the first about 2026.

1. Los Angeles Dodgers

2025 Record: 93-69

Final 2025 Power Ranking: 3

Notable free agents and options: 3B Max Muncy (option), SS Miguel Rojas, RP Kirby Yates, OF Michael Conforto, UTIL Kiké Hernández

Winning the World Series last year only further fueled the team’s spending. So expect the Dodgers to be in the market for outfielder Kyle Tucker, even if the club may be wary of another long-term commitment. There will be some roster turnover. The front office needs to rebuild a bullpen that left manager Dave Roberts with few reliable options during the postseason. But the rotation looks menacing, especially if Roki Sasaki can use his bullpen breakout to fuel a return to starting. And, of course, they still have that Ohtani guy. The Dodgers are going to be preseason favorites every preseason for quite a while. — Andy McCullough

2. Toronto Blue Jays

2025 Record: 94-68

Final 2025 Power Ranking: 4

Notable free agents and options: SS Bo Bichette, SP Chris Bassitt, SP Max Scherzer, SP Shane Bieber (player), IF Isiah Kiner-Falefa, RP Serathony Domínguez

We would be embarrassed to report that we ranked the Blue Jays 22nd when we did this exercise a year ago, except that was mostly a reflection of their uncertainty. Here’s what we wrote: “The Blue Jays could be a playoff team next fall. Or they could finish in fifth place again. Both are entirely believable outcomes.” Both were believable, but Vladimir Guerrero Jr. signed long-term, Bichette returned to form, Trey Yesavage emerged and the Blue Jays had more depth than we realized. Now, they have some substantial holes to fill at shortstop and in the rotation, but there’s no doubt they’re starting from a stronger point than at this time last year. — Chad Jennings

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3. New York Yankees

2025 Record: 94-68

Final 2025 Power Ranking: 7

Notable free agents and options: OF Cody Bellinger (player), CF Trent Grisham, 1B Paul Goldschmidt, RP Devin Williams, RP Luke Weaver

The Yankees had the same regular-season record as the Blue Jays but were no match for Toronto in the playoffs. Attempts to build a powerful bullpen fell flat, key starters got hurt, Jasson Domínguez was not the difference maker many expected and Anthony Volpe struggled late before having surgery. But, hey, Aaron Judge is still really good. Ben Rice might have hit his way into an everyday role, and trade deadline pickup David Bednar is returning, but the Yankees are otherwise back to the drawing board in the bullpen, and they’ll need to replace key pieces of their outfield. How far will Brian Cashman go to make sure this year’s vulnerabilities don’t become next year’s trends? — Jennings

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