According to Joel Sherman of the New York Post (subscription required), the qualifying offer for 2026 is projected to be just under $22 million. Of course, this is a lever that the SF Giants will not be using this offseason.
One lever the SF Giants will not be using this offseason
Theoretically, the Giants could use the qualifying offer on any player who has not received it before. However, this typically applies to the top players on the market.
The qualifying offer is essentially a one-year deal. The value of it is determined by calculating the average salary of the 125 highest-paid players.