1st The Astros sign free agent P Doug Drabek to a 4-year contract worth $19.5 million.
The Cubs sign free agent P Jose Guzman to a 4-year contract, beating out the Yankees offer. Guzman is coming off his best ML season, going 16–11 with the Rangers.
3rd The Mariners sign free agent P Chris Bosio to a 4-year contract.
4th The Yankees sign free agent SS Spike Owen to a 3-year contract.
The Astros new owner Drayton McLane, Jr. signs free agent P Greg Swindell to a 4-year contract worth $17 million.
5th The Twins trade P David West to the Phillies in exchange for P Mike Hartley.
The Dodgers sign free agent OF Cory Snyder to a 2-year contract.
6th The Yankees trade 1B J.T. Snow and pitchers Russ Springer and Jerry Nielsen to the Angels in exchange for P Jim Abbott.
7th Owners vote to reopen the collective bargaining agreement with the players.
The Blue Jays sign free agent DH–1B Paul Molitor.
The Reds sign free agent OF Roberto Kelly to a 3-year contract.
8th It’s signing day as the Giants ink free agent OF Barry Bonds and make him baseball’s highest–paid player, with a 6-year contract worth $43.75 million.
The Royals sign free agent P David Cone and free agent SS Greg Gagne to 3-year contracts. Cone turns down an offer from the Yankees.
The Blue Jays sign free agent P Dave Stewart.
The White Sox sign free agent P Dave Stieb.
The Indians sign free agent P Bob Ojeda.
The Red Sox sign free agent P Scott Bankhead to a 2-year contract.
The Twins sign free agent P Jim Deshaies.
The Athletics sign free agent P Storm Davis to a 2-year contract.
The Angels trade IF Luis Sojo to the Blue Jays in exchange for 3B Kelly Gruber.
The Cubs sign free agent P Dan Plesac to a 2-year contract.
The Marlins sign free agents Dave Magadan, Charlie Hough, and Geronimo Berroa.
The Phillies ink free agent outfielder Pete Incaviglia and Milt Thompson to 2-year contracts.
9th Marge Schott appears at the major league baseball winter meetings in Louisville and apologizes for insensitive remarks.
Florida Marlins president Carl Barger dies from a heart attack at age 62. Despite the pall cast over the gathering by the death, the players’ agents scoop up $228 million dollars worth of contracts in the five days of the meeting. Pirate GM Ted Simmons selects lefty Dave Otto from the Indians in the Rule 5 draft, neglecting to notice that Otto had a $500,000 guaranteed contract. Because of the auction-like atmosphere, the owners will terminate the winter meetings for the next six years.
The Red Sox sign free agent OF Andre Dawson to a 2-year contract.
The Braves sign free agent Cy Young and Gold Glove winner Greg Maddux to a 5-year contract for $28 million. Maddux rejects an offer from the Yankees worth $34 million for 5 years. Agent Scott Boras told the Yankees that if they increased their offer to $37.5 million that Maddux would sign, but when the Braves entered the picture Maddux was forced to reconsider. Atlanta then trades pitchers Charlie Leibrandt and Pat Gomez to the Rangers in exchange for 3B Jose Oliva. Leibrandt (15–7) saw his star fall in Atlanta when he gave up 11th-inning extra base hits in the 1992 WS and the 1991 NLCS. Maddux, who turned down a $28.5 million contract extension in mid–season with the Cubs, signs for $28 million, $6 million less than the Yankees offer, Maddux which included a $9 Million signing bonus.
The Cubs sign free agent P Randy Myers to a 3-year contract. Myers had lost his closer role with San Diego for a month after giving up a game tying HR to Andre Dawson on June 2.
The Dodgers sign free agent P Todd Worrell to a 3-year contract.
The Giants sign free agent OF Dave Martinez to a 2-year contract.
10th A day after missing on Maddux, the Yankees sign free agent P Jimmy Key to a 4-year contract.
11th The Orioles sign free agent 2B Harold Reynolds.
The Angels sign free agent OF Chili Davis to a 2-year contract.
The Tigers sign free agent P Bill Krueger to a 2-year contract.
The Cubs sign free agent OF Candy Maldonado to a 2-year contract.
14th Oakland re-signs catcher Terry Steinbach, who takes $3 million less than an offer from the Yankees.
15th The Yankees sign free agent 3B Wade Boggs to a 3-year contract.
The Rangers sign free agent reliever Tom Henke to a 2-year $8 million contract. Henke, who started his career with Texas, had 34 saves in 37 tries with Toronto.
16th The Giants name Dusty Baker as manager to replace Roger Craig.
The Marlins sign free agent C Benito Santiago to a 2-year contract. Santiago, who went 272 games with the Padres without a passed ball, will have 11 this year trying to catch Charlie Hough.
17th The Twins sign free agent DH–OF Dave Winfield to a 2-year contract. Winfield returns to his home town.
18th The Cubs sign free agent OF Willie Wilson to a 2-year contract.
The Mets sign free agent OF Joe Orsulak.
21st The Rockies sign free agent OF Daryl Boston.
23rd The Mariners sign free agent C Mackey Sasser to a 2-year contract.
24th The Expos trade 3B Tim Wallach to the Dodgers in exchange for minor league SS Tim Barker.