Important dates in the Winter 2025-2026 Hot Stove League calendar.
November 2, 2025, 9 am Eastern time: Eligible players become Free Agents, "Quiet Period" begins.
November 2-6, 2025: "Quiet Period" Former clubs of Free Agents may tender "Qualifying Offers."
November 6, 2025, 5 pm Eastern time: Last date for clubs to exercise options in player contracts.
November 6,, 2025, 5 pm Eastern time: Minor League Uniform Player Contracts expire. Eligible minor leaguers become free agents.
November 6, 2025, 5 pm Eastern time: "Quiet Period" ends, Free Agents may sign with any club.
November 18, 2025, 4 pm Eastern time: Last date for Free Agents to accept Qualifying Offers.
November 18, 2025, 6 pm Eastern time: Major and Minor (all levels) reserve lists set.
November 21, 2025: Tender Deadline - last date to offer 2025 contracts to unsigned players.
December 3, 2025, 2 pm EST: Last date to request outright waivers to assign player before Rule 5 draft.
December 7-10, 2025: Winter Meetings, Orlando, FL.
December 7, 2025, 5 pm: Last date to outright a player before Rule 5 draft.
December 9, 2025, 3:30 pm: Rule 4 Draft Lottery.
December 10 2025: Rule 5 Draft.
December 15, 2025: International Signing Period close, 5 pm EST.
January 9, 2026: Exchange of salary arbitration figures.
January 15, 2026: International Signing Period opens, 9 am EST.
January 26 – February 20, 2026: Salary Arbitration hearings.
February 11, 2026 (est.): Voluntary Reporting Day for Pitchers and Catchers - the First Day of Spring!
March 26, 2026: Opening Day!
