Could the New York Mets become one of the first MLB teams to wave the white flag in 2026?

If so, count the Chicago Cubs interested in Freddy Peralta. The two-time All-Star pitcher is in the final year of the contract extension he originally signed with the Milwaukee Brewers, and is set to become a free agent at the end of the season.

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That will make him a popular trade target for teams short on starting pitching — a group that suddenly includes the Chicago Cubs.

Bruce Levine of 670 The Score in Chicago, citing “industry sources,” reported May 8 the Cubs are one of the teams the Mets have talked to about acquiring Peralta.

According to Levine, “June 1 is a target time for the Mets to either get back into the race or move (Peralta),” who played with Cubs manager Craig Counsell in Milwaukee.

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Acquiring Peralta makes sense for the Cubs, who are tied with the Atlanta Braves for the best record in baseball at 26-12. Chicago recently lost starting pitcher Matthew Boyd to a freak knee injury that required surgery on his left meniscus.

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Boyd, an All-Star in 2025, is 62-78 with a 4.61 ERA over parts of 12 MLB seasons.

Peralta is 2-3 with a 3.12 ERA for the Mets, who have given him scant run support in his eight starts. A 10-5 win in Colorado on May 6 marked the first time since Opening Day the Mets have scored more than four runs in a game Peralta started.

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Peralta led the National League in wins last season, going 17-6 with a 2.70 ERA for the Milwaukee Brewers. In January, he was traded to New York along with Tobias Myers for pitcher Brandon Sproat and prospect Jett Williams.

A trade back to the NL Central would put Peralta on the opposite end of a rivalry between the surprising Cubs and the Brewers, who have won the last three division titles.

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It would also leave the 14-23 Mets as the most expensive team ever assembled to begin to trade its stars this early in a season. According to USA Today, the Mets began the season with $357.6 million in payroll per MLB’s calculated present-day value, the largest figure in MLB.

Who might the Mets get in return for Peralta? Would any team be willing to match or exceed the Mets’ return in prospect capital?

Suddenly, these are good questions to ask. Baseball’s midseason hot stove appears to be warming up early.

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