SAN ANTONIO — As expected, the Orioles’ two most significant free agents received the qualifying offer ahead of Monday’s 5 p.m. ET deadline.

Right-hander Corbin Burnes and outfielder Anthony Santander were both extended the $21.05 million qualifying offer, which would serve as a one-year contract for the 2025 season. They have until 4 p.m. ET on Nov. 19 to decide whether to accept or decline.

Neither is facing a difficult decision. Both Burnes and Santander are likely to decline the qualifying offer, as each is projected to land a large multiyear deal in free agency, which began when the signing period opened on Monday at 5 p.m. ET.

If either player doesn’t return to Baltimore, the O’s will receive Draft-pick compensation because they extended the qualifying offer.

In past years, it would have seemed unlikely that the Orioles would be willing to spend the type of money required to sign a star player the caliber of Burnes or Santander. They have not inked any multiyear free-agent deals since Mike Elias became general manager in November 2018.

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But the future could be different for Baltimore, which has entered its first offseason under its new ownership group. Private equity billionaire David Rubenstein now serves as the control person after his team’s purchase of the club was finalized in March.

That doesn’t necessarily mean the Orioles will bring back both Burnes and Santander (or either). However, they could be in the mix.

Burnes came to Baltimore last offseason, when the O’s swung a blockbuster Feb. 1 trade with the Brewers to land the 2021 National League Cy Young Award winner. And he pitched exactly as advertised during his age-29 season.

In 32 starts for the Orioles, Burnes recorded a 2.92 ERA, a 1.10 WHIP and 181 strikeouts over 194 1/3 innings (sixth most in MLB). He was the bona fide workhorse ace that Baltimore’s rotation was missing during its American League East-winning 2023 campaign.

Although the O’s were immediately swept out of the postseason for a second straight year, Burnes delivered a gem in Game 1 of the AL Wild Card Series at Camden Yards. He held the Royals to one run and needed only 84 pitches to navigate eight-plus innings in a 1-0 loss.

Santander’s ties to the Orioles’ organization run deeper. The 30-year-old outfielder is a former Rule 5 Draft pick, having been taken from Cleveland in December 2016.

After playing only 176 big league games while dealing with multiple injuries from 2017-20, Santander developed into an integral middle-of-the-order bat in recent seasons. He has slugged 105 home runs over the past three years, including a career-high 44 in 2024.

Santander also recorded 25 doubles and a career-best 102 RBIs to go along with an .814 OPS over a career-high 155 games this past season. He was named an AL Silver Slugger Award finalist for the third consecutive year.

If Burnes and Santander both head elsewhere, the O’s will have two sizable holes to fill.

The Orioles’ rotation is set to return quality right-handers Zach Eflin, Grayson Rodriguez, Dean Kremer and Albert Suárez. Fellow righties Kyle Bradish (Tommy John surgery) and Tyler Wells (UCL reconstruction) are expected back sometime next season as well.

Left-handers Cade Povich and Trevor Rogers and righty Chayce McDermott (Baltimore’s No. 5 prospect per MLB Pipeline) will also be in the rotation mix heading into Spring Training.

But the O’s would undoubtedly benefit from either bringing back Burnes or acquiring a different ace, such as free-agent lefties Max Fried or Blake Snell.

Without the switch-hitting Santander, the Orioles’ outfield group would lack a potent right-handed bat. The projected starters would be Colton Cowser, Cedric Mullins and Heston Kjerstad (from left to right), each of whom is a lefty hitter.

On Monday, Elias and several other members of Baltimore’s front office traveled to San Antonio, where the annual General Managers’ Meetings are being held this week. While there, the O’s brass is set to lay the groundwork for what could be a busy winter, one that could include upcoming discussions with Burnes and Santander.