With MLB's next offseason only a few months away, we've gained enough distance to get a good perspective on its most recent hot-stove dealings.

So let's take a fresh look at how each team's moves during the 2020-21 offseason are panning out.

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For this, we focused on what teams did or didn't gain through noteworthy signings and trades and, in some cases, picks in the Rule 5 draft. Yet some circumstances were appropriate to look at what they lost, particularly in big-ticket trades or by declining options or non-tendering players.

We'll hand out grades to each club as we go division by division, starting in the American League East and ending in the National League West.

 

American League East

 

Baltimore Orioles

Hits (WAR): SS Freddy Galvis (0.9), RHP Spenser Watkins (0.8), RHP Tyler Wells (0.7)

Misses (WAR): RHP Adam Plutko (-0.1), RHP Matt Harvey (-0.4), 3B Maikel Franco (-0.7)

Because their 25-35 showing in last year's shortened season made it clear that their rebuild still had a ways to go, it was understandable that the Orioles promptly had a quiet offseason. Their biggest moves were trading away Alex Cobb and Jose Iglesias and signing Galvis to a $1.5 million contract.

The O's got a solid performance out of Galvis before flipping him to the Philadelphia Phillies at the trade deadline and have otherwise gotten solid seasons out of Watkins, a minor league signee, and Wells, who they got in the Rule 5 draft.

It's perhaps just as notable, though, that the O's tried and failed to dig up gold with MiLB deals for Harvey and Franco, whose best days in the majors are now a distant memory. So on balance, their quiet offseason looks like a wash.

Grade: C

                   

Boston Red Sox

Hits (WAR): IF/OF Enrique Hernandez (3.6), RHP Garrett Whitlock (2.2), OF Hunter Renfroe (1.3), RHP Hirokazu Sawamura (0.8),RHP Adam Ottavino (0.7), LHP Martin Perez (0.7)

Misses (WAR): RHP Garrett Richards (0.2), IF/OF Marwin Gonzalez (-0.1), OF Franchy Cordero (-0.4), RHP Matt Andriese (-0.7)

Rather than try to reel in one or two big fish to get back on track after a last-place finish in 2020, the Red Sox spread relatively little money around to sign a handful of lesser players in free agency.

Out of that bunch, Gonzalez's presence has hardly been felt, and Richards has had a devil of a time ever since MLB cracked down on sticky stuff. After posting a solid 3.88 through his first 12 starts, he's put his rotation spot in jeopardy via a 7.36 ERA in nine outings since then.

On the plus side, the Red Sox scored productive regulars by bringing in Hernandez and Renfroe and, until recently, re-signing Perez to solidify their rotation. Factoring in what Sawamura, Ottavino and Whitlock have meant for a bullpen that leads the majors in WAR, the scales of Boston's winter ultimately lean positive.

Grade: B

             

New York Yankees

Hits (WAR): RHP Jameson Taillon (1.9), RHP Corey Kluber (1.4), INF DJ LeMahieu (1.4), LHP Lucas Luetge (1.0), 2B Rougned Odor (0.9)

Misses (WAR): RHP Darren O'Day (0.3), OF Brett Gardner (0.2), LHP Justin Wilson (-0.5)

At least as laid out above, it looks like the Yankees actually scored a solid haul over the winter. But context matters, especially with regard to LeMahieu.

Though he's been decent in hitting .267 with a 97 OPS+, neither figure is remotely close to the .336 average and 144 OPS+ that he had for the Yankees across 2019 and 2020. To this extent, his six-year, $90 million pact is off to an inauspicious start.

Mound-wise, Taillon has eaten 107 innings but only to the tune of a 4.04 ERA. And while he posted a sturdy 3.04 ERA through 10 outings, it's no great surprise that Kluber hasn't pitched since then because of a bad shoulder. This leaves Luetge as arguably New York's best acquisition, but it might have been better off simply keeping Ottavino.

Grade: C

             

Tampa Bay Rays

Hits (WAR): C Mike Zunino (1.8), RHP Collin McHugh (1.2), C Francisco Mejia (1.1), LHP Rich Hill (0.8). LHP Jeffrey Springs (0.2)

Misses (WAR): RHP Luis Patino (-0.1), RHP Chris Archer (-0.2), RHP Michael Wacha (-0.7)

By far the biggest move the Rays made over the winter was the trade that sent 2018 AL Cy Young Award winner Blake Snell to the San Diego Padres. That didn't look like a win for the Rays at the time, but the picture is surely different now in context of the minus-0.1 WAR that Snell has posted for San Diego.

As for other victories, even the Rays might not have expected their $2 million deal with Zunino to work out as well as it has. He's kept the mojo that he had last October, posting a 125 OPS+ and 21 homers amid what is also his first All-Star season.

This is about where the good vibes end. Though both pitched well for the Rays, McHugh is now injured and Hill is a member of the New York Mets. The ultimate sense is that Tampa Bay's offseason dealings have neither killed nor enlivened its 2021 season.

Grade: C

            

Toronto Blue Jays

Hits (WAR): 2B Marcus Semien (5.1), LHP Robbie Ray (3.9), CF George Springer (1.4), LHP Steven Matz (1.0)

Misses (WAR): RHP Tyler Chatwood (-0.1), RHP Kirby Yates (Tommy John surgery)

The Blue Jays' decision to sign Springer to a team-record $150 million deal didn't look so great earlier in the year as he was dealing with a troublesome quad. But he's been on fire since returning to an everyday role on June 22 and has generally made a major impression with a 162 OPS+ in 42 games.

It's Semien, though, who's emerged as Toronto's best addition, as he's ascended to the top of the AL leaderboard for WAR. Ray has also had a dandy of a season, posting a 2.90 ERA with 159 strikeouts in 130.1 innings.

Thus is one team responsible for three of last winter's biggest free-agent victories. That's more than enough to make up for Toronto's offseason losses, which aren't even that bad on their own.

Grade: A