ORLANDO, Fla. — The Atlanta Braves explored price points for free-agent closer Edwin Díaz as well as other late-inning relievers, according to people briefed on their discussions. But ultimately the Braves did not sign Díaz, in part because they are in a different position than other teams when considering free agents who rejected qualifying offers.

A club that signs such a player loses at least its second-highest draft pick. The Braves’ first selection, No. 9 overall, is protected. Their second-highest, No. 26, is the Prospect Promotion Incentive choice they received for Drake Baldwin winning National League Rookie of the Year.

The Braves value that pick, the highest second selection of any club. Right-hander Hurston Waldrep, who had a 2.88 ERA in 56 1/3 innings as a rookie last season, was the 24th overall choice in 2023. Lefty Cam Caminiti, the Braves’ No. 1 prospect per MLB Pipeline, went 24th overall in 2024. Shortstop/outfielder Tate Southisene, their No. 3 prospect, went 22nd overall in 2025.

If the Braves were going to sacrifice the No. 26 pick, they likely would have preferred to do it for a position player or starting pitcher rather than a reliever. That still could happen. Right-handers Zac Gallen and Michael King and lefties Framber Valdez and Ranger Suárez are among the remaining free agents who rejected qualifying offers. The extent of the Braves’ interest in those pitchers is unclear.

The Braves did not exceed the luxury-tax threshold last season, so they only will lose one pick if they sign a free agent with a qualifying offer. The Los Angeles Dodgers did exceed the threshold, so they will forfeit their second- and fifth-highest picks plus $1 million in international bonus pool space for reaching agreement with Díaz on a three-year, $69 million deal that included deferrals.

With Díaz off the board, the Braves continue to look for another back-end reliever to pair with Raisel Iglesias, whom they re-signed to a one-year, $16 million contract. They were interested in righty Kyle Finnegan before he agreed to return to the Detroit Tigers on a two-year, $19 million agreement, and also are considering Robert Suarez.

Reds still trying

If the Cincinnati Reds add a hitter, it won’t be at the level of Kyle Schwarber. But the Reds also are not shopping in the bargain aisle just yet.

Among the trade possibilities they are considering, according to sources briefed on their conversations: Arizona Diamondbacks second baseman Ketel Marte, who is owed $102.5 million over the next six seasons, including $41 million deferred; and Tampa Bay Rays second baseman Brandon Lowe, who will make $11.5 million in the final year of his contract.

The Reds, league sources said, offered Schwarber a five-year deal in the $125 million range, with room to grow. Their proposal had a creative structure that included deferrals. Ownership was willing to extend for Schwarber, anticipating that the native of Middletown, Ohio, would help sell tickets in his homecoming.

A deal for Marte would require the Reds to part with top young talent, something they are reluctant to do, and possibly offload a player such as second baseman Gavin Lux, who is projected to earn $5 million in arbitration. Marte’s contract, though, is not considered onerous. The Rays also have discussed a trade for him, and potentially could include Lowe in such a deal, or spin him to another club.

The Reds also are looking at a number of free agents, and one rival executive estimates they are involved in a dozen scenarios. The defensive versatility of several of their position players enables them to be flexible in whom they acquire, and imaginative in their approach.

The Athletic’s C. Trent Rosecrans has more details on the Reds’ potential next steps.

Blue Jays still active

The Toronto Blue Jays do not expect to find a taker for right-hander José Berríos, who is owed $66 million over the next three seasons. Yet even after agreeing with free-agent right-handers Dylan Cease and Cody Ponce, they continue to seek pitching help, both starters and relievers, with Suarez among their targets.

One way for the Blue Jays to add a reliever is by trading one of their lesser outfielders, an option they are considering, according to people briefed on their plans. Nathan Lukes, Myles Straw and Joey Loperfido all would be possibilities to move, along with a few others.

Lukes projects to be the Jays’ starting left fielder unless they sign Kyle Tucker. Straw and Loperfido are both beloved by their teammates. Bo Bichette and Louis Varland both said during the postseason that Straw was the most important player in the clubhouse.

Trading Straw on top of potentially losing both free-agent right-handers Max Scherzer and Chris Bassitt potentially would affect the Jays’ culture, which all involved with the club said was critical to the team’s success in October.

Around the horn

• Free-agent right-hander Germán Márquez is at the meetings, speaking with clubs. Márquez, 30, made only five combined starts for the Colorado Rockies in 2023 and ’24 after undergoing Tommy John surgery and is dealing with a stress reaction in his elbow. He had a 6.70 ERA in 26 starts last season, but some teams might view him as a bounceback candidate now that he is fully recovered and leaving Coors Field. His ERA last season was 7.32 at Coors, 5.98 on the road.

• Even after trading right-hander Johan Oviedo, the Pittsburgh Pirates remain open to trading another starting pitcher for offensive help. Their preference would be to move Mitch Keller (owed $54.5 million over the next three seasons) or Mike Burrows, according to a rival executive in contact with them. They also are open on two younger right-handers, Jared Jones and Bubba Chandler, but only for a huge haul.

• In addition to closer Trevor Megill, right-handed reliever Nick Mears is another player generating trade interest from Milwaukee’s bullpen, league sources said. Mears, 29, is under club control for two more seasons. MLB Trade Rumors projects Mears to make $1.6 million in 2026. In 63 appearances (56 2/3 innings), Mears had a 3.49 ERA/3,86 FIP. Mears’ chase rate ranked in the top 7 percent, per Baseball Savant.

• Veteran Colorado pitcher Jimmy Herget intends to enter spring training as a starter, a league source said. Herget, 32, has started just three games in his career. But in 2025, he recorded more than three outs in an appearance a whopping 31 times. Overall, he had a 2.48 ERA/3.32 FIP in 59 games, 83 1/3 innings.

• The Mets agreed to a minor-league deal with Carl Edwards Jr. with the intention of using the longtime reliever as a possible depth starter, people familiar with the club’s plans said. He would slide somewhere in the club’s Triple-A rotation. Edwards, 34, has never started a game in his 11 major-league seasons. While pitching in Mexico, however, this past season, Edwards made 14 starts (74 2/3 innings) and produced a 3.38 ERA.

The Athletic’s Mitch Bannon contributed to this story