Top Takeaways, News from the 2014 MLB GM Meetings

The annual general managers meetings, which wrapped up Thursday in Phoenix, are merely the first salvo in the MLB offseason. Most of the big deals and major signings are yet to come.

It's a long winter, after all.

But the meetings did offer some interesting insight into what lies ahead and a peek at how the trade and free-agent markets will take shape as 30 clubs look to rebuild, retool or reload. 

The GMs have packed their bags and vacated the swanky Biltmore Hotel. Here are three takeaways from their three-day stay.

Power at a Premium

Offense is down in baseball; that's not news. But when the Detroit Tigers inked Victor Martinez to a four-year, $68 million deal, per CBSSports.com's Jon Heyman, it became clear just how valuable a big bat is.

Yes, Martinez is coming off the best offensive season of his career—.335/.409/.565 slash line, 32 home runs, 103 RBI—but he's also about to turn 36 and is almost exclusively a designated hitter. There's an excellent chance he won't be performing at a high level by the end of that contract.

Carlos Osorio/Associated Press

Obviously, however, that's the price a club has to pay to land one of the few elite hitters on the market. Certainly the dollars, and even more the years, that Martinez netted represent good news for 34-year-old Nelson Cruz, who is reportedly seeking a four-year offer. 

Eduardo A. Encina of The Baltimore Sun spells it out: 

"

So if Martinez received a four-year deal despite being older than Cruz, there’s reason for Cruz’s agent, Diego Bentz, to believe that his client can legitimately garner a four-year deal now. Teams looking for a middle-of-the-order power hitter and lost out on Martinez likely will turn their attention to Cruz.

"

And if that's the price tag of defensively challenged hitters in their mid-30s, imagine the payday that awaits Pablo Sandoval, who's just 28 and fresh off another heroic October. 

Bottom line: GMs shopping for offense better be prepared to spend.

Shortstops in Short Supply

Not sure if you heard, but the New York Yankees lost their shortstop to retirement. So GM Brian Cashman, among other offseason tasks, has to fill Derek Jeter's cleats.

Kathy Willens/Associated Press

No easy feat, particularly given the paucity of impact shortstops available.

"It’s a limited market," Cashman told Brendan Kuty of NJ.com. That's an understatement.

Asdrubal Cabrera, a two-time All-Star, hit just .241 last year with the Cleveland Indians and Washington Nationals. Hanley Ramirez is hamstrung defensively. 

Then there's Stephen Drew, an intriguing name who suffered through a subpar season and posted an anemic .150/.219/.271 slash line in 140 at-bats with New York.

There are trade options, too, the most enticing being the Chicago Cubs' Starlin Castro. But according to Newsday's Marc Carig, "the Cubs have yet to give any indication that they'd part with Starlin Castro or any of their glut of shortstops."

The Yankees aren't the only club in the Big Apple, let alone baseball, with a hole at short. The New York Mets are also actively seeking one-half of their keystone combo, per NJ.com's Mike Vorkunov. 

Low supply and high demand at one of the most important positions on the diamond. Sounds like a recipe for offseason intrigue—and angst. 

Arms Race for Lester

Nobody signed Jon Lester in the lobby of the Biltmore, but his two biggest suitors emerged: the Boston Red Sox and the Chicago Cubs.

The Red Sox are Lester's old team, while the Cubs' president of baseball operations, Theo Epstein, was GM in Boston when Lester made his MLB debut in 2006. And both teams are in pursuit of one of the top arms on the market, according to FOX Sports' Ken Rosenthal. 

Lester was traded from Boston to the Oakland A's at the deadline this season and has repeatedly expressed interest in returning to Beantown. But the Cubs, with their stable of young talent, could also be an attractive landing spot for the playoff-tested southpaw.

Even if the bidding is only between the Cubs and Red Sox, Lester is sure to secure a massive deal. But there could be another dark-horse contender: the Atlanta Braves.

As Rosenthal explains:

"

John Hart, [the Braves'] president of baseball operations, says the Braves are not pursuing top-tier free-agent starters such as Lester. But Hart probably should add, 'right now.'

Lester, 31, lives in Sharpsburg, Ga., outside Atlanta. The Braves need starting pitching. And if they clear enough payroll — something they actively are trying to do — then their entire approach to the offseason could change.

The Braves indeed have touched base with Lester's representatives, according to major-league sources. Their contact might only be a matter of due diligence. But they would be foolish to outright ignore a local resident, no?

"

The key caveat: This year's pitching market is deep and includes other legitimate aces (see: Scherzer, Max). Things could develop slowly, despite the best efforts of phone-working GMs and talent-hungry teams. 

It's a long winter, after all.

All statistics courtesy of Baseball-Reference.com.