Thanksgiving is four days away, officially kicking off the holiday season. It also may kick off a busier time for the Hot Stove season.

It has been predictably quiet around the league since the World Series ended a month ago. But we’re now two weeks away from the start of the Winter Meetings, with many around the industry already anticipating a busy week in Dallas.

No, that doesn’t mean they think Juan Soto will announce his decision. It’s more that they think some mid-to-upper-level free agents will come off the board and a couple of teams could execute some trades.

Where does that leave the Nationals?

Their free agent needs and targets have been well documented, while the free agent pool grew after Friday’s non-tender deadline. Their farm system is stacked if they wish to acquire major league talent through a trade. But could they go the opposite route and flip a current big leaguer for more prospects to add to their minor league depth?

As the Nationals have navigated their way through their current rebuilding efforts, general manager Mike Rizzo has often reiterated the fact he’s done this before. Upon taking the job in 2009, Rizzo tore down much of the 102-loss roster he inherited and spent the next three years building it back up before reaching the promised land with a 98-win division champion in 2012.

The comparisons of that rebuild timeline to this rebuild timeline have been plentiful. And though the 71-win Nats of 2024 didn’t come close to matching the 80-win team of 2011, there is a similar sense of optimism right now as there was back then, that this organization is ready to start adding significant pieces to the puzzle in an attempt to contend next season.

We tend to think of free agency as the primary method for adding those kind of major pieces. Who’s going to be this generation’s version of Jayson Werth? Of Adam LaRoche? Of Edwin Jackson?

Let’s not forget, though, the major piece Rizzo acquired last time around through an entirely different process: Gio Gonzalez.

On Dec. 22, 2011, the Nationals and Athletics finalized a trade that brought Gonzalez to D.C. in exchange for four highly rated prospects: Brad Peacock, Derek Norris, A.J. Cole and Tommy Milone. And, yes, all were considered highly rated prospects at the time, even if none ever realized their full potential. (Peacock and Norris ranked third and fourth, respectively, in the club’s farm system at the time, trailing only a couple of guys named Bryce Harper and Anthony Rendon.)

Despite a 16-win improvement in 2023, the Nationals were careful not to call last year a success. Even though they jumped from 55 to 71 victories, they still lost 91 games for their fourth straight losing season.

“I don't think that it's a successful season, but it's a very encouraging season,” said general manager Mike Rizzo on Sept. 13, 2023. “Nobody wants to aim to win 70 games in a season. We want to win 97 games in the season. So that's our goal. That's always been our goal. But this is a good step in the right direction to that.”

The Nats looked like they were going to take a similar step in that direction this year. Through the first 77 outings in late June, they were on pace to win about 80 games. That would have been close to another double-digit win improvement from last year and close to their first finish at or above .500 since winning the World Series in 2019.

But from that point on, starting with a three-game sweep at Petco Park at the hands of the Padres (which also helped turn San Diego’s season around), the Nats went 33-52 (.388) the rest of the way en route to finishing with the same 71-91 record they had in 2023. Although this year, they did finally end their four-year streak of finishing last in the National League East, with the woeful Marlins residing in the division’s basement.

So if last year was more “encouraging” than a “success,” what’s the word the Nats would use to describe the 2024 season?

It feels a bit like ancient history at this point, but it’s worth remembering the Nationals were consistently one of baseball’s highest-spending clubs for nearly a decade. For nine consecutive seasons from 2013-21, their year-end payroll ranked among the top 10 in the majors, peaking in 2019 at more than $205 million (fourth-highest in the sport).

That all changed in July 2021 when the franchise tore down its aging roster and embarked on a rebuild that continues to this day. The Nats ranked 18th in year-end payroll in 2022, 22nd in 2023 and 24th this season, according to figures calculated by Spotrac.

The organization’s approach to the last three offseasons was clear: The major league roster would be filled with short-term solutions while everyone waited for a revamped farm system to start producing the next wave of big leaguers. The Nationals spent a total of $22.25 million on major league free agents prior to the 2022 season, another $22.25 million entering 2023 and only $9.25 million entering this season. Only one player signed a guaranteed multi-year contract: Trevor Williams (two years, $13 million).

While frustrating to many, and subject to plenty of criticism, the approach was grounded in some actual baseball logic: It made little sense to spend big money on free agents until enough prospects made it to the big leagues and the team was ready to actually “go for it” again.

That logic was justified each of the last three winters. It’s not justified this time around.

If the Nationals want to point to only one clearly positive development from their just-completed season, the answer is simple: Improved pitching, especially in the rotation, especially from a group of young starters.

MacKenzie Gore, Jake Irvin, Mitchell Parker and DJ Herz may not have been dominant – though all exhibited moments of dominance along the way – but collectively they made 113 starts, pitched effectively (4.20 ERA, 1.297 WHIP) and established their place in the club’s 2025 plans.

“The biggest thing is obviously our young pitching,” manager Davey Martinez said last weekend. “Seeing some of these guys come up who we thought wouldn’t be here yet doing what they’ve done, they’ve done really well.”

Indeed, only Gore and Irvin were part of the Opening Day rotation. The three other slots went to designated No. 1 starter Josiah Gray and veterans Patrick Corbin and Trevor Williams. Gray made only two starts before going on the injured list with an elbow issue that ultimately required Tommy John surgery. Corbin made his usual 32 starts with his usual inflated ERA. Williams enjoyed a major turnaround from the previous year but still missed 3 1/2 months with a flexor strain.

So the unexpected positive developments involved Parker and Herz, a couple of rookie left-handers who figured to get a shot at some point later in the season but wound up in D.C. much earlier than expected and then held onto their jobs once they arrived.

In his end-of-season session with reporters, Mike Rizzo lamented the Nationals’ lack of power and need to make significant improvements in that department in the future.

“Slug is something that we’re going to try and either acquire and/or develop,” the longtime general manager said, “to get to a point where you don’t need to get three or four hits in an inning to score a run, and it makes it much more difficult to put up a crooked number.”

Rizzo said this one year ago, at the end of the 2023 season. If you didn’t know that, you’d have every reason to believe he just said it last weekend as the Nats were wrapping up yet another power-starved season at the plate.

The 2024 Nationals were an improved group in many ways. They were not any better at hitting the ball out of the park. In fact, they were worse.

Last season, they ranked 21st in the majors with 700 runs scored. This season, they ranked 25th with only 660 runs scored. Last season, they ranked 29th in home runs with 151. This season, they again ranked 29th with only 135 homers.

History will forever show the Nationals went 71-91 in 2024. Just as they did in 2023. It’s not a won-loss record anyone should remember fondly, and the fact it didn’t change from 12 months prior would suggest the team as a whole didn’t really improve at all from one year to the next. For a franchise three years into a roster rebuild, that could feel quite disheartening.

Do you think it’s fair, though, to evaluate this team primarily on its won-loss record? Presented with that question over the weekend, Davey Martinez had to think long and hard before finally settling on an answer.

“Um … no, I really don’t,” the longtime manager said. “We’ve had a lot of different things happen in the course of the year.”

Martinez went on to detail how much the Nationals’ roster changed from April to September, how the team that ended the season was one of the youngest in baseball, which offered plenty of promise but also lent itself to more losses down the stretch than anyone would have liked.

“I thought a lot this morning about where we’re at,” he said. “We had to make so many transitions.”

The Nationals’ decision in mid-August to re-sign their entire coaching staff caught most outside observers by surprise. Yes, the team had shown signs of progress, but not so much progress that the decision to bring everyone back was a no-brainer.

If nothing else, conventional wisdom suggested the front office would wait until season’s end to evaluate coaches’ performance and then make decisions about everyone’s fate heading into 2025.

The early decision, prompted by manager Davey Martinez’s desire to let all of his coaches have peace of mind and not have to sweat out the season’s final month-and-a-half, was approved by general manager Mike Rizzo and ultimately by club ownership.

The Nationals owned a 55-65 record on Aug. 14 when Martinez announced the decision. They’ve gone 15-25 since and are now 20 games under .500 in the season’s final weekend. They need to win their final two games to surpass last year’s win total of 71.

Rizzo, who met with beat reporters Friday for the first time since the coaching decision, was asked both about the timing of the move and the rationale for retaining the whole staff.

The Nationals’ decision to demote CJ Abrams for disciplinary, not performance, reasons last week hasn’t changed the organization’s outlook on their All-Star shortstop for 2025 and beyond, general manager Mike Rizzo insisted today.

“No, absolutely not. He’s still our guy,” Rizzo said in an end-of-season session with reporters. “We love him, and he’s going to be a great player for us. Optioning him out wasn’t the end of the world. We have a standard here, and we have to keep people accountable. He still has great upside and is still going to be, in our minds, a great major league shortstop.”

Abrams was shockingly optioned to Triple-A Rochester one week ago after he was reportedly caught staying out all night in Chicago prior to the team’s afternoon game at Wrigley Field. With the minor league season ending the following day, the 23-year-old was sent to West Palm Beach, Fla., where he has spent this week working out with a handful of other Triple-A players who are on standby in case the Nationals need to make any last-minute roster moves.

The very public demotion of Abrams, which both Rizzo and manager Davey Martinez have acknowledged was not performance-based, stunned the entire baseball community and raised questions about his future with the organization.

Both Rizzo and Martinez, though, have stressed the message they delivered to Abrams – while disciplinary – was one of encouragement.

CHICAGO – CJ Abrams’ demotion to the minors with one week to go in the season seemingly came out of nowhere. It shocked teammates. It confused the rest of the baseball world. It produced an endless supply of instant takes and opinions that may or may not have been all that informed.

But when the dust settled Sunday and the magnitude of the move sunk in, this much became clear: The Nationals are taking an awfully big risk here. What’s at stake? Abrams’ career trajectory, and the reputation of a franchise trying to re-establish itself as a successful and well-respected ballclub.

The Nats clearly felt they needed to send a message, both to Abrams and to the rest of the clubhouse, that a certain level of maturity and responsibility is expected. To be clear, Abrams didn’t break any official rules. There’s no mandatory curfew on the road. He didn’t get himself into any legal trouble.

So the disciplinary demotion was about making a larger point. To Abrams: It’s time to make smarter decisions. To the rest of the players: Everyone is expected to adhere to certain standards of professionalism, and those who don’t are going to risk the consequences.

It’s not unlike the time Mike Rizzo designated Shawn Kelley for assignment after the reliever showed up manager Davey Martinez during a blowout game in July 2018. Rizzo famously declared after making that transaction, “You’re either in, or you’re in the way,” a quote that would then be displayed prominently in the tunnel that leads from the clubhouse to the dugout at Nationals Park.

CHICAGO – CJ Abrams’ 2024 season is over, and not for any baseball-related reasons.

The Nationals optioned Abrams to Triple-A Rochester this morning, a stunning transaction at this late stage of the season that club officials said was made not for performance or service-time reasons.

“It’s an internal issue,” manager Davey Martinez said. “I’m not going to get into specifics, or talk about specifics, because I need to keep these guys and everything on the down-low. I’ve got other guys out there I want to support. I’m going to support CJ. He’s a big part of our Nats family, and he will be. But at this point, for me, it’s the right thing to do.”

Abrams, who earned the first All-Star selection of his career with an impressive first half, had been mired in a prolonged slump since July but had one of his best games in months Thursday night when he went 4-for-5 with two doubles and two stolen bases in the Nats’ 7-6 loss to the Cubs. He was back in the lineup Friday afternoon and went 0-for-3 with a walk, then was summoned to Martinez’s office for a long postgame meeting and was informed he was being demoted.

Prior to the game, an X post from Cody Delmendo of CHGO Sports said Abrams “was at the Bally’s casino in the loop until 8 am this morning,” citing a source. Asked about that report, Martinez said: “I’m not going to get into any specifics. I’m going to handle this internally.”

PHOENIX – In his 16 seasons as Nationals general manager, Mike Rizzo has found himself on both ends of the trade deadline spectrum. He’s been a buyer many times. He’s been a seller with some frequency as well. He’s even had a few quiet Julys when he could stand pat and play out the rest of the season.

But he’s become way too familiar with the selling process the last four years. Every trade deadline deal the Nationals have made since 2021 – and there have been 13 of them in total – has involved the swapping of major league players for prospects.

Suffice it to say, Rizzo would much rather find himself adding than subtracting this time of year.

“It’s more fun, I know that much,” he said. “Way more fun grabbing All-Star players than giving away All-Star players. … This is challenging. This is a tough time for players, and we recognize that. But we think it’s a necessary time. I think this organization, this front office, did a remarkable job.”

The initial reviews of the Nats’ four deadline moves – Hunter Harvey to the Royals for Cayden Wallace and a draft pick used on Caleb Lomavita; Jesse Winker to the Mets for Tyler Stuart; Lane Thomas to the Guardians for Alex Clemmey, Rafael Ramirez Jr. and Jose Tena; Dylan Floro to the Diamondbacks for Andres Chaparro – have been positive.

PHOENIX – A week of trade deadline frenzy reached its final hour this evening, the Nationals having previously dealt three key players and now waiting to see if there would be any last-minute takers for their two remaining available relievers.

In the end, they did find a deal they liked for Dylan Floro. They did not find one to their liking for Kyle Finnegan.

Floro was traded to the Diamondbacks for Triple-A corner infielder Andrés Chaparro during the final minutes leading up to the 6 p.m. Eastern deadline, giving the veteran right-hander a chance to move to the other clubhouse at Chase Field and potentially face his former team tonight. Finnegan, on the other hand, stays put and will remain the Nats closer for the remainder of this season while remaining under club control for 2025 as well.

"I'm happy to be a National, and we can put this behind us and focus on winning games," said Finnegan, who for the third straight summer heard his name come up in trade deadline rumors but never was dealt. "I was at peace with whatever happened. But I'm happy to be here."

Having already traded Hunter Harvey to the Royals prior to the All-Star break, then Jesse Winker to the Mets and Lane Thomas to the Guardians over the last three days, the Nationals reached deadline day with only two expected trade candidates in Finnegan and Floro.

ST. LOUIS – Anyone who has followed the Nationals since 2021 understands the stress that accompanies the trade deadline for a team more interested in dealing major leaguers than acquiring them.

Nothing will ever top the stress of July 2021, when Max Scherzer, Trea Turner and six other veterans were shipped off in less than 36 hours, kickstarting the franchise’s rebuild. Nor the stress of July 2022, when a generational player named Juan Soto went from untouchable to traded in the span of two weeks.

This year’s trade deadline period won’t match those, but it does bring with it an entirely different type of stress. This isn’t about trading away big name stars for a horde of prospects who won’t reach the majors for years. This is about the philosophy of a Nationals organization at an important crossroads in this rebuild project.

Do the Nats believe they’re ready to win in 2025? If so, do they believe their two most valuable trade chips right now – closer Kyle Finnegan, right fielder Lane Thomas – should be a part of a 2025 roster built to contend? Or do they believe success still lies further down the road, or that they can still be in a position to win next year even if they deal Finnegan and Thomas?

“I think we’re going in the right direction,” general manager Mike Rizzo said last week. “I think we’re on time and doing the right things. I think that when you look at where we were when we started this thing in 2021, I think it’s palatable. I think you could feel it. I think you could see that there’s a light at the end of the tunnel.”

The Nationals signed another one of their top draft picks today, coming to terms with Caleb Lomavita and giving the former Cal catcher a tour of the ballpark and a chance to take batting practice with big leaguers.

Lomavita, the 39th overall pick in this month’s draft, received a signing bonus of $2.325 million, according to a source familiar with the terms. That’s slightly below Major League Baseball’s recommended slot value of $2.4 million for that particular pick.

That the Nationals even found themselves holding the 39th pick was a last-minute surprise, with general manager Mike Rizzo acquiring it along with third base prospect Cayden Wallace from the Royals for reliever Hunter Harvey about 24 hours before the start of the July 14 draft. It was one of only a handful of draft picks eligible to be traded, officially a “Competitive Balance A” pick awarded to Kansas City because it is considered a low-revenue club.

Inside the Nats’ draft war room, scouts were ecstatic to suddenly have a third selection on the event’s opening night to go along with the previously assigned No. 10 and No. 44 overall picks.

Lomavita, 21, is considered a top offensive prospect whose catching skills developed significantly over the last few years in Berkeley. In 158 games across three seasons at Cal, the Hawaii native hit 38 homers with 141 RBIs and a .302/.369/.534 slash line while seeing his caught-stealing percentage improve from 19 percent as a sophomore to 23 percent as a junior.

As Tuesday’s trade deadline draws ever closer, the biggest dilemma facing the Nationals has become crystal clear: Whether or not to deal Kyle Finnegan.

Most of the other decisions Mike Rizzo faces over the next six days are pretty clear cut. Jesse Winker and Dylan Floro are here on one-year deals and will most likely be traded for the best available offers. Trevor Williams and Joey Gallo are still on the injured list and unlikely to return until sometime in August at best, so that takes both veterans out of the equation. Lane Thomas’ fate isn’t certain, but the emergence of Jacob Young in center field and the fact Dylan Crews is going to be big-league-ready very soon gives Rizzo plenty of reason to see what he can get for his 28-year-old right fielder.

But then there’s Finnegan, who is sure to draw interest from contending teams and could command a high asking price but also could very much still be a critical part of a Nationals team that hopes to win in 2025.

The pros and cons for trading the All-Star closer:

PRO: On the heels of a dominant first half, and with one-plus years of club control attached to his name, his value may never be higher. Finnegan ranks among the league leaders in saves, ERA and WHIP, and he’s been a consistently dominant presence at the end of games. Fourteen of his 28 saves have come with completely clean innings, with nobody reaching base against him, second-most in the majors behind the Cardinals’ Ryan Helsley.

It was a busy return from the All-Star break for the Nationals on Friday.

Josiah Gray announced a partial tear in his right ulnar collateral ligament that will require season-ending surgery. First-round pick Seaver King and third-round pick Kevin Bazzell officially signed their contracts and were introduced as Nationals for the first time. And the Nats started the second half with an 8-5 win over the Reds that had some early fireworks and late dramatics.

With all the pregame news, some things said by long-time general manager Mike Rizzo were left by the wayside. But they were no less important for the Nationals in the grand scheme of things.

Rizzo spoke to members of the local media for 12 minutes after introducing two of his top four selections from this year’s draft. The topics varied, but in the spirit of the draft celebrations, started with the trade Rizzo made a week ago today to add another pick in the first night of the draft.

In a surprising move at the time, the Nationals traded right-hander Hunter Harvey to the Royals for third base prospect Cayden Wallace and a Competitive Balance A pick, which happened to be No. 39 overall. The Nats used that pick to select catcher Caleb Lomavita out of Cal.

The Nationals returned from the All-Star break in high spirits. Everyone seemed to enjoy the much-needed week off after a brutal stretch to end the first half of the season.

But the vibes in the clubhouse took a turn when the team received some unfortunate, though not totally unexpected, news: Josiah Gray has a partial tear of his right UCL and will require elbow surgery, ending his season and delaying his start to next year.

The right-hander experienced elbow discomfort during his last rehab start on June 30 with Triple-A Rochester, so the Nationals shut him down and scheduled an MRI and a consultation with specialist Keith Meister during the All-Star break.

The results were what they feared the most.

“It got looked at by Dr. Meister over the All-Star break and we found a little partial tear in UCL. So we're gonna opt for elbow surgery here,” Gray said in front of his locker in the Nats clubhouse before the second-half opener against the Reds. “It's gonna, obviously, end the year for me. I got a long road ahead, but that was kind of what the doctor saw and we got that opinion from him and we're kind of going to hit the ground running.”

After a long delay while working out the financial details of his contract, Stephen Strasburg’s retirement became official Saturday night per the Nationals’ official transactions page, with the right-hander and the team releasing statements Sunday morning.

Although this announcement has been a long time coming, the finality of the official release made for an emotional morning yesterday at Nationals Park as former teammates, coaches and front office members reflected on the right-hander’s career.

The roster looks a lot different from the last time Strasburg stepped into the clubhouse back in 2022 when he was trying to revitalize his career while coming back from thoracic outlet syndrome surgery. But there are still a handful of familiar faces around.

“You look back at his career and how special of a player he was. He's a huge part of why I decided to come here,” said Patrick Corbin, who was Strasburg’s teammate for four years after signing with the Nats as a free agent ahead of the 2019 season. “Hopefully, he and his family are happy now, and he can move on with life and be with his family, which I know he wants to be. So you just feel for somebody like that who was such a good player for a long time. Just unfortunate with the injuries and some setbacks, but he tried everything to come back and be part of this team. Things just didn't work out.”

Strasburg hasn’t been able to pitch since June 9, 2022, when he made his only major league start that season while giving up seven runs in 4 ⅔ innings against the Marlins. After he was unable to fully overcome thoracic outlet syndrome, he finally admitted last year that a return to the mound wouldn’t be possible.

For the second straight day, CJ Abrams remains out of the Nationals lineup for this afternoon’s series finale against the Phillies.

The young shortstop was a late scratch from the lineup yesterday with a bone bruise in his left pinky finger suffered while sliding into second base Friday night.

“He's still a bit sore. So it's still going to be day-to-day,” manager Davey Martinez said of Abrams before the finale. “We'll see how he feels throughout the day. He's getting treatment. And I'm hoping that he could pinch-hit for us today late in the game. I just don't want to push it too much. I don't want to aggravate it.”

Nasim Nuñez replaced Abrams at shortstop yesterday and went 0-for-2 before being subbed out for pinch-hitter Luis García Jr. late in the game. Ildemaro Vargas is playing short today and batting seventh.

Abrams was off to a strong start to the season before the injury, slashing .321/.387/.607 with a .994 OPS, one triple, two home runs, five RBIs, three walks and a perfect 3-for-3 in stolen bases without committing an error in the field.