The champagne has dried and the confetti’s been swept off the parade route, but the real chaos of the baseball winter is just getting started. In this jam-packed hot stove episode, we dive straight into an offseason that’s gone from zero to sixty in record time—one defined by high-stakes, calculated risk from every corner of the league.

We start with the shocking veteran one-for-one swaps that lit up the transaction wire, including the Marcus Semien–Brandon Nimmo stunner between the Mets and Rangers and the Orioles’ eyebrow-raising decision to flip Grayson Rodriguez for 36-homer slugger Taylor Ward. What looks like simple roster shuffling on the surface reveals much deeper fault lines: champions slashing payroll days after a parade, contenders betting against their own top prospects, and front offices trying to solve long-term cap math with ...