Greinke had three years and $71 million remaining on his deal with Los Angeles. Greinke was always expected to opt out of his deal and command a larger contract even prior to this season, where he won the ERA title with a masterful 1.66 mark.
The soon-to-be 32-year-old Greinke joined the Dodgers on a six-year, $147 million deal with an opt out clause following three seasons. Considering how well Greinke has pitched over the life of this contract, he could easily surpass the $147 million he was guaranteed from Los Angeles.
According to Heyman, one GM suggested that Greinke will get multiple offers for $125 million over five years at a minimum, with the winning bid likely being a five-year, $150 million deal or more.
Since signing with the Dodgers, Greinke has solidified himself as one of the best pitchers in baseball, going 51-15 with a 2.30 ERA and 555 to 129 strikeout-to-walk ratio over 602 2/3 innings in three years. He's been worth 13.7 Wins Above Replacement in these seasons, according to FanGraphs.
This season, Greinke was even better, going 19-3 with a 1.66 ERA (2.76 FIP) and 200 to 40 strikeout-to-walk ratio in 222 2/3 innings. FanGraphs pegged him at 5.9 Wins Above Replacement.
It would not be a shock to see Greinke back with the Dodgers, who are in need of pitching, next season. Outside of ace Clayton Kershaw, Los Angeles struggled to find depth this season, working with the likes of Brett Anderson, Alex Wood, and Mat Latos, among others. The Dodgers not only have the need, but they have the money and will spend it to retain Greinke next year and beyond.
In addition to the Dodgers, the Yankees, Giants, Blue Jays, Cardinals, Royals, and others will be in need for starting pitching and could make a run at Greinke this offseason.