For a team projected to carry a $136 million payroll, every dollar counts, and the Milwaukee Brewers just committed over 16% of that to one player – a move that could cost them another.

One signature on a $22 million offer may have just started the clock on Freddy Peralta‘s time in Milwaukee. Brandon Woodruff accepted the Brewers’ one-year, $22.025 million qualifying offer, putting the Brewers in an unusual spot.

This huge chunk of Milwaukee’s budget makes Woodruff only the second in the franchise to be making at least $20M. The other one is Christian Yelich ($26M annually through 2028).

The 32-year-old’s return almost immediately raised speculations about whether Milwaukee might use it as a reason or an excuse to move Freddy Peralta. Owner Mark Attanasio and GM Matt Arnold tried to calm the noise at first.

They emphasized their faith in the rotation and their intention to keep it together. But because of the Milwaukee Brewers’ history of trading their best players before free agency (Josh Hader, Corbin Burnes, Devin Williams), the right-hander has always been under trading speculation, even before Woodruff’s signing.

But trading Freddy Peralta may not save much for the Brewers.

Peralta owes only $8M next year. However, freeing the amount would allow the franchise to get near last year’s payroll ($123M).

While trading a star like Peralta is the nuclear option, GM Matt Arnold has smaller levers to pull. Moving relievers like Trevor Megill or Nick Mears could chip away at the payroll, freeing up another combined $5.8 million, but whether that’s enough to solve the larger puzzle remains the central question.

Eventually, the Brewers probably wouldn’t move both. Yet, these are just ideas because every bit of flexibility matters when payroll is tight.

But everything done and said, Peralta is one of the best value pitchers around the league. Across 33 starts, he went 17-6 (17 wins led the NL) with a 2.70 ERA, 3.64 FIP, and 204 strikeouts over 176 2/3 innings. It was his third consecutive 200-plus strikeout season. Getting such consistency at the top of the rotation would be attractive to any team, especially the ones with budget constraints.

Meanwhile, adding Woodruff can strengthen a team that led the majors with 97 wins in 2025. In 12 starts, he pitched 64 2/3 innings with a 3.20 ERA and a 32.3% strikeout rate. Yet, the real pivot point is what happens with Woodruff’s deal.

Right now, trading him isn’t an option because players accepting a QO cannot be dealt with until June 15 without their consent.

If the Brewers can lock Woodruff into a multi-million dollar contract with a lower annual salary, they’d gain some flexibility while still keeping the roster competitive. It might also protect them from the possibility of losing Freddy Peralta next offseason.

Milwaukee Brewers’ top two needs if they trade Freddy Peralta

On Wednesday, Curt Hogg of the Milwaukee Journal Sentinel evaluated what the Brewers might be looking for in a potential Freddy Peralta deal.

According to Hogg, “The Brewers would likely target starting pitching that’s big-league ready as a necessity in the deal. Outfield would be another spot the Brewers would likely target, as there are questions beyond Jackson Chourio and Sal Frelick at the big-league level there and a need in the minors.”

There’s no guarantee that a two-player package would be enough to land Peralta. But if a deal came relatively close, another team would almost certainly sweeten the offer, probably by adding a high-upside prospect from the minors.

If the Brewers did decide to move Peralta, they’d want his rotation spot secured. If they bring in another Peralta-caliber arm with five or six years of control, it would be a straightforward way to keep their winning formula intact.

Realistically speaking, the Brewers likely haven’t made up their minds on whether Freddy Peralta will be traded. However, they almost certainly have a sense of the kind of return it would take even to start that kind of conversation.