The San Francisco Giants were widely reported to be out on high-priced free agent arms, but shortly following a report that disputed that notion, they are also active in the trade market for a top-shelf ace.

Already linked to free agent left-hander Framber Valdez, the Giants are also said to be interested in acquiring Milwaukee Brewers ace Freddy Peralta, who could be moved this offseason before entering free agency next winter.

According to The Athletic‘s Ken Rosenthal, San Francisco is among several teams that are “in” on discussions involving the two-time All-Star.

Which teams are interested in Freddy Peralta? With @WillSammon: https://t.co/u4h4REKhBL

— Ken Rosenthal (@Ken_Rosenthal) December 10, 2025

The Baltimore Orioles, Boston Red Sox, New York Yankees, San Francisco Giants and Houston Astros are among the teams in on Peralta, according to people familiar with the Brewers’ discussions.

The Athletic‘s Ken Rosenthal on Brewers ace Freddy Peralta’s trade market | December 10, 2025

As Milwaukee did with 2021 Cy Young Award winner Corbin Burnes in 2023, the Brewers appear to be kicking the tires on moving Peralta in an effort to stock up on young players and assets rather than fork out a sizable contract.

Peralta, 29, posted a 17-6 record and 2.70 ERA while striking out 204 batters over a career-high 176.2 innings. The right-hander led the National League with 17 wins en route to finishing fifth in the NL Cy Young race.

It makes sense that the San Francisco Giants are interested in Peralta, a player they could acquire without breaking the bank in the short term.

The Giants’ starting rotation includes two Cy Young-caliber arms in Logan Webb and 2021 AL Cy Young Award winner Robbie Ray–but several question marks follow.

Former top prospect Kyle Harrison is gone, traded to Boston during last season’s trade that brought slugger Rafael Devers to San Francisco. Hard-throwing Jordan Hicks was also sent to the Red Sox in the deal, while reigning PCL Pitcher of the Year and current top Giants pitching prospect Carson Whisenhunt struggled during his brief stint in the bigs during the 2025 season (5.01 ERA over five games).

Adding a reliable arm appears to be at the top of team president Buster Posey’s to-do list, and Peralta is the latest name to appear on the San Francisco Giants’ radar this offseason.

More San Francisco Giants content from Sactown Sports

As the MLB Winter Meetings get underway in Orlando, rumors are circulating, and Framber Valdez’s free agency is a major storyline to watch.

While it was widely reported last week that the San Francisco Giants will not be chasing expensive arms on the free agent market this offseason, an interesting report from the Winter Meetings has thrown some water on that notion.

According to MLB Network’s Jon Morosi, the Giants met with former Houston Astros ace Framber Valdez during the GM Meetings in November.

Valdez, who is arguably the top free agent arm on the market, also met with the high-spending New York Mets and splash-searching Baltimore Orioles.

Framber Valdez, 31, just put the finishing touches on a 13-11 season with the Astros that included a 3.66 ERA and 187 strikeouts over 192 innings pitched (career-high 31 starts).

The 2022 World Series champion holds a career record of 81-52 and an impressive 3.36 ERA to go along with 1,053 strikeouts and a 1.204 WHIP.

Many around baseball predict Framber Valdez to ink a contract in the neighborhood of $170-200 million, meaning any team that signs him should also be ready to offer a six-to-seven-year deal.

Report: Free agent Framber Valdez has met with the San Francisco Giants

Upcoming San Francisco Giants & MLB Offseason Schedule

December 7-11th – MLB Winter Meetings in Orlando, Florida
Early-January – MLB Arbitration Negotiations
Mid-February – Pitchers & Catchers report for Spring Training
Saturday, February 21st – @ Seattle Mariners (Spring Training Opener)

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