In a flurry of activity following the Texas Rangers' World Series victory, MLB free agency commenced on Thursday with 130 players entering the market. Prominent names such as Shohei Ohtani, Cody Bellinger, Jordan Montgomery, Blake Snell, and Aaron Nola became available for new teams to pursue.

However, not all players opted for free agency. Max Muncy, Joe Jiménez, and Colin Rea, relinquished the opportunity and instead agreed to new contracts with their respective teams. Muncy secured a $24 million, two-year deal with the Los Angeles Dodgers, while Jiménez inked a $26 million, three-year contract with the Atlanta Braves. Rea, on the other hand, signed a $4.5 million, one-year contract with the Milwaukee Brewers.

The free agent market also features notable players like Sonny Gray, Josh Hader, Matt Chapman, Jorge Soler, and J.D. Martinez. These players will undoubtedly draw attention from teams seeking to bolster their rosters during the offseason.

Minnesota Twins exercised their options on outfielder Max Kepler and infielder Jorge Polanco, preventing them from becoming free agents. Kepler's option stands at $10 million, while Polanco's option is valued at $10.5 million. The Twins' decision saved them from paying a $1 million buyout for each player had the options been declined.

An additional 61 players have the potential to become free agents by Monday, depending on decisions regarding options and opt-outs. The deadline for teams to make qualifying offers to their eligible players is also set for Monday. To be eligible, a player must have spent the entire season with the team and not previously received a qualifying offer. The qualifying offer amount for this season is $20,625,000, an increase from last year's $19.65 million.

Since its inception in 2012, only 10 out of 124 qualifying offers have been accepted. Last year, outfielder Joc Pederson accepted a qualifying offer from the San Francisco Giants, and left-hander Martín Pérez accepted one from the Texas Rangers.

The offseason began with Muncy, Jiménez, and Rea foregoing free agency to secure new deals. The Los Angeles Dodgers, Atlanta Braves, and Milwaukee Brewers also made decisions on declining and accepting options, shaping their rosters and signaling their intentions for the upcoming season.

As players become available for negotiation starting Monday at 5 p.m. EST, the MLB free agency market is set to gain momentum. Teams will aim to bolster their lineups and pitching rotations, while players will seek favorable contracts to further their careers. With several high-profile players hitting the free agency pool, the offseason promises to be filled with anticipation and speculation.

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