Orioles face another setback as Blue Jays swoop in to sign prized KBO arm

Baltimore Orioles president of baseball operations Mike Elias has been a busy man since the MLB offseason began. Not only did Elias hire Craig Albernaz to be the team's manager in 2026, but he also added an extra bat (Taylor Ward) and a top-tier reliever (Ryan Helsley).

The problem, however, is that while Elias's newest additions are sure to help patch the Orioles lineup and the bullpen, he's done nothing to bolster the starting rotation. In fact, with Grayson Rodriguez going to Los Angeles in exchange for Ward, one could make the case that he's actually weakened the biggest deficiency on the Orioles roster.

But most MLB experts and pundits believe Elias and Co. will eventually remedy that situation, and player like Cody Ponce could've offered Baltimore a world of upside at a fraction of the cost. Unfortunately, he's no longer on the board after the Toronto Blue Jays swooped in and signed him to a three-year, $30 million contract. Ponce was thought to represent an opportunity to buy-low on an under-the-radar arm, but that wasn't the case.

Orioles face another setback as Blue Jays swoop in to sign Cody Ponce

According to MLB insiders Ken Rosenthal and Katie Woo of The Athletic (subscription required), Ponce created quite the buzz among league executives. It's believed that Ponce — who's spent the last four seasons overseas playing Nippon Professional Baseball and the Korea Baseball Organization — could command a three-year deal worth at least $30 million, which is exactly what he got.

A former second-round draft pick of the Milwaukee Brewers in 2015, Ponce's time in the major leagues was rather unsuccesful and abbreviated. The right-hander appeared in just 20 Major League games before taking his talents to the Far East.

Ponce's 2025 season in the KBO certainly elevated his profile. After going 17-1 with a 1.89 ERA in 28 starts for the Hanhwa Eagles of the KBO, Ponce drew the attention of numerous MLB execs, and much like Erick Fedde and Merrill Kelly, is hoping to use his performance to snag a big league contract.

It's questionable, however, if the O's would've been willing to take such a gamble given the steep price that Ponce received. Were he in line to score a deal similar to Fedde's contract with the Chicago White Sox in 2024 (two-year, $15 million), then perhaps Baltimore would've been a more logical destination. But at the reported price, the Orioles were right to avoid taking a flier on an upside-arm like Ponce.

But the O's can't keep sitting on their hands. It's time for Elias and Co. to turn back toward the top-end of the free agent market.