Complete 2014-15 Baltimore Orioles Offseason Preview and Predictions

The regular season is now over. The playoffs are just around the corner.

With the final regular-season game being played on September 28, a 1-0 win for the Baltimore Orioles in Toronto, Orioles fans are eagerly waiting for what the postseason has in store.

The Orioles finished the year with a 96-66 record, clinching their first division title since 1997 and earning home-field advantage in the American League Division Series against the Detroit Tigers.

Once the playoffs are over, the O's will be in full-on offseason mode, attempting to handle a number of issues while also looking for ways to better their roster.

There will be five major points of emphasis surrounding the team this winter, with nothing coming as much of a surprise. The team and the franchise are both in a good place right now, but there are going to be some tough decisions that need to be made.

Let's take a look at those five points as we preview Baltimore's offseason.

Payroll Breakdown

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Entering the 2014 season, the Orioles ranked right in the middle of the pack (15th) in payroll, according to Barry Petchesky of Deadspin.com.

That's a bit odd. The O's ranked 15th entering 2013 as well, but they upped their payroll by about $16 million between the 2013 and 2014 seasons.

The O's began the year with a payroll of $107,406,623, but there will be plenty coming off the books by the time the free-agent market is open for business.

Once contracts of impending free agents come off the books, the O's will be looking at a projected payroll of about $76,139,956. Even when you take into account this number is without potential arbitration raises, that's a significant amount of money coming off the books, giving the O's a lot of flexibility moving forward.

Orioles Free Agents

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The O's have three key players on their roster who are set to become free agents this winter.

Right fielder Nick Markakis (pictured), shortstop J.J. Hardy and DH/outfielder Nelson Cruz will all be able to test the open market this offseason. The Orioles will be interested in bringing each one of them back.

Markakis may arguably be the most important of the bunch. Coming off a six-year, $66.1 million contract, the O's hold an option for the 2015 season on Markakis of $17.5 million that is sure to be declined.

The right fielder isn't worth quite that much, but the O's will be sure to pursue him heavily given his status as a fan favorite, favorite of owner Peter Angelos and a positive clubhouse presence. Markakis is the Oriole Way, and there are many people who would love to see him stay in Baltimore.

In Hardy's case, he would be smart to test the open market. The demand for quality shortstops is high, and Hardy can play exceptional defense while also handling the bat well. His nine home runs are a low over his last four seasons in Baltimore (he hit at least 22 in each of his previous three), but he still posted a respectable .268 batting average with 28 doubles and 52 RBI. Those are very solid numbers from a shortstop and fit nicely in the bottom half of any team's lineup.

The three-year, $22.25 million deal that he's coming off of is probably a good place to start in negotiations with Hardy, but the total could easily rise if other teams come calling. And with Derek Jeter retiring, the New York Yankees are in need of a shortstop. We all know they're going to be calling Hardy's agent as soon as possible.

Cruz will likely be the hardest of the three to re-sign and the toughest decision.

On the one hand, Cruz posted a .271 batting average, .333 OBP, 32 doubles, a league-leading 40 home runs and tallied 108 RBI to boot.

On the other hand, Cruz is defensively challenged in the outfield and will be 35 years of age come July 1st of next season.

Cruz is due for a huge contract after his monster season. Will the O's be the team to give it to him? Would it be wise to spend big money and multiple years on a guy who likely will only decline from this point forward?

Holes to Fill

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The holes that will need to be filled relate directly to the pending free agents the O's have.

Shortstop, right field, and DH are the most glaring holes this winter, and the only position that truly has a favorable possibility of the incumbent returning is Markakis in right field.

It's very possible that the O's are outbid on both Hardy and Cruz, meaning that the team would have to do some searching in order to find acceptable replacements. Hardy and Cruz aren't exactly the easiest players to replace.

Hardy has won both the Gold Glove and Silver Slugger Award during his time with Baltimore, making him the exact kind of shortstop that every team would overpay to have on its roster. Cruz, meanwhile, is a scary threat in the middle of any batting lineup and is likely to receive this season's Silver Slugger Award for designated hitters.

On top of that, the Birds will have lefty reliever Andrew Miller departing, leaving a gaping hole in their late-inning relief corps. There's also a possibility they will need to find a left fielder.

The O's have plenty of internal options with Steve Pearce, Alejandro De Aza and David Lough, and the team could look to re-sign Delmon Young, who can play the corner outfield if need be.

If minor league outfielder Mike Yastrzemski continues to play like he did in 2014 (.288 BA, .346 OBP, 34 2B, 16 3B, 14 HR), he could find his way to the bigs sooner rather than later.

A more under-the-radar type of addition would be to add depth to the bench, be it veterans who project to be on the Opening Day roster or guys who will fill out the Triple-A squad and can be summoned at a moment's notice. With Pearce earning regular playing time this season, it's possible he could begin next season the same way, leaving the O's with one fewer bench player.

Manny Machado's health is a bit of a concern as well. Given the fact that Machado has had season-ending knee surgery in back-to-back seasons, it would be wise for the team to add a capable guy or two to back him up.

The O's have quite a few holes they'll need to address this winter, but they'll also have some options to work with. It should be interesting to see how executive vice-president of baseball operations Dan Duquette goes about it.

Trade Possibilities

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The Orioles will consider multiple scenarios when looking to fill the holes they'll be left with this winter, including acquiring talent through the trade market.

Making successful trades can be tricky. The O's would have to give up value in order to get value in return. Obviously, the team would want to trade from a strength in order to lessen the blow on the organization as a whole.

As a fan, it's tough to tell who will really be on the trade market come this winter, so all of the following suggestions are speculation.

The Miami Marlins performed above expectations. The team actually did pretty well in finishing 77-85 and remained in the NL wild-card race up until Giancarlo Stanton got injured with just two weeks left in the season. The Marlins did all that without their ace, Jose Fernandez, for most of the year, as he went down early and required Tommy John surgery.

The Marlins could be a strong team next season, and it wouldn't be much of a surprise if they made a legitimate run at a wild-card spot. However, you never know what owner Jeffrey Loria will look to do with the team, so it's possible that he could want his top baseball decision-makers to trade a few players with value who could soon see a raise.

One of those guys is Steve Cishek (pictured), who has quietly been one of the better closers in baseball the last two seasons. Cishek has saved 73 games over the last two years and has posted a career ERA of just 2.65. He'll turn 29 years old in the middle of next season, so he's still rather young.

Other potential players the O's could target are closer Jonathan Papelbon and second baseman Chase Utley of the Philadelphia Phillies. Papelbon could slot into a setup role, and Utley could rotate between DH and second base for the team, providing a good left-handed bat in the lineup.

The Phillies need to rebuild, and they could begin as soon as this winter. The only problem, though, is those two guys are still owed a good bit of money. Each presents their own personal difficulties, as Papelbon is famous for being a loudmouth, and Utley has expressed a desire to remain with the Phils. Frankly, I don't see either of those guys coming to Baltimore, but they fit the mold.

The Los Angeles Dodgers also have a plethora of outfielders, and the O's do need players at those positions. But any of the guys that the Dodgers may be willing to deal are owed big money, so the two sides would have to negotiate how much of that the Dodgers would be willing to eat.

Free-Agent Possibilities

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The O's free-agent possibilities will depend greatly on whether the team can re-sign the players it hopes to bring back to Baltimore.

Should Nelson Cruz move on to a bigger and better contract than what the O's are willing to offer him, the team could target veteran designated hitters that it has long coveted.

Victor Martinez (pictured), a 36-year-old switch-hitter, will hit the open market this winter in search of what will likely be his final multiyear contract. Martinez is in many ways a better hitter than Cruz is.

Martinez set a career high in homers this season (32), reaching the 30-homer mark for the first time in his career. He's likely to never do that again, as he was always more of a 20-homer guy who could also rip 30 or 40 doubles. But his biggest attribute? Getting on base.

Martinez hit .335 this season while leading the league with a .409 OBP, and he struck out just 42 times this year. With one of the best batting eyes in the game, Martinez would seriously help set the table for guys like Adam Jones and Matt Wieters in the Baltimore lineup.

If the O's whiff on Martinez, they could target Billy Butler, who is currently with the Kansas City Royals. Butler would be a bit of a downgrade from Cruz. His home run numbers have dropped the last two seasons after setting a career high with 29 in 2012, but he's a very good doubles hitter and has a .359 career OBP.

Butler would likely come cheaper than Cruz or Martinez, meaning the O's would add a quality batter while saving a little money to target other players they'd need.

If shortstop J.J. Hardy decides to move on, the O's could turn their attention to Jed Lowrie (currently of the Oakland A's) and Asdrubal Cabrera (currently with the Washington Nationals). Both players can play second base and shortstop, and they both have decent bats that wouldn't hurt the bottom of the O's lineup.

Lowrie in 2014: .249 BA, .321 OBP, 29 2B, 6 HR, 50 RBI

Cabrera in 2014: .241 BA, .307 OBP, 31 2B, 14 HR, 61 RBI

All of this is just speculation, but these four players are the guys who make the most sense for the O's entering the offseason.