After the New York Mets caused a stir by acquiring Brewers ace Freddy Peralta, many believed all the pieces had automatically fallen into place. Framber Valdez, the name linked with the Baltimore Orioles all winter, seemed to be just waiting for the signing.
But that day hasn’t arrived yet.

And the longer they wait, the more unease grows within the Orioles community.
From the outside, everything should have been simple. The Orioles needed another pillar for rotation. Valdez was a proven left-handed shooter, accustomed to high pressure, and a perfect fit for Baltimore’s “win-now” ambitions. Yet his market has been inexplicably slow.
Theories quickly emerged. Some suggested the Orioles were simultaneously pursuing Zac Gallen. Others clung to the “cross-up” story between Valdez and catcher Cesar Salazar as a sign of risk. Others emphasize the age factor — 32, a number that makes front offices increasingly wary of long-term commitments.

All of that could be partly true.
But according to multiple sources, the Orioles haven’t backed out. They’re still in the game, still in contact with Valdez’s representatives, and still view him as a serious option. This makes the real question no longer why the Orioles are hesitating, but rather: who else is keeping Valdez on the market?
The answer may come from the West Coast.

MLB insider Héctor Gómez recently stated that the San Francisco Giants have emerged as a formidable competitor. According to Gómez, negotiations between the Giants and Valdez’s representatives have “heated up,” while the Orioles and Mets remain strongly interested.
Gómez isn’t always accurate. He’s been criticized for some inaccurate reporting in the past. But recently, he was also the first to reveal José Ramírez’s seven-year contract extension with the Cleveland Guardians — a major boost in credibility.

And more importantly, the Giants’ scenario isn’t unreasonable.
San Francisco has significantly improved its roster, but it still lacks a piece to truly challenge the Los Angeles Dodgers in the NL West. A rotation around Logan Webb, Robbie Ray, Adrian Houser, Tyler Mahle — and Framber Valdez — would instantly shift the balance of power. Not many teams have the financial resources to attempt that. The Giants are one of the few.

Meanwhile, the Orioles are still considered the “most logical” destination for Valdez. But logical doesn’t mean certain. As contract values begin to soften over time, teams initially on the sidelines often return — and they bring leverage.
What worries Baltimore fans isn’t the possibility of losing Valdez, but the feeling of a lack of control. The prolonged market means the Orioles are no longer the sole dictator of the pace. And in big trades, pace often determines the winner.

Ultimately, Valdez will sign somewhere. Many experts still lean toward Baltimore. But when the Giants name comes up, this delay is no longer a harmless detail.
It’s a reminder that in MLB, trades that seem “done” are only truly closed when the pen hits the paper.
And by then, the Orioles can only hope that their patience isn’t punished.
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