Winners and losers from Day 1 of winter meetings

The first day of the 2016 winter meetings was filled with rumors, signings, and a lot of talk about money. It sets up for a fascinating three days in Washington, D.C. Here's a look at the winners and losers from Day 1 of the meetings:

Winners

San Francisco Giants

Coming off a season in which Giants relievers blew a league-high 30 saves in 2016, the front office made landing a top-tier closer a priority. General manager Bobby Evans crossed that need off his list Monday, inking right-hander Mark Melancon to a four-year, $62-million deal. The contract sets a new record for a reliever, but that number will likely be surpassed when both Aroldis Chapman and Kenley Jansen sign. Believed to be the third-best option of the available closers this winter, Melancon is an excellent addition for the Giants. The right-hander owns a 1.80 ERA and 0.91 WHIP over the last four seasons, while converting 147 saves.

Rich Hill

In July 2015, Hill - four years removed from Tommy John surgery - was cut by the Washington Nationals after several months in Triple-A. With no other options, he signed a contract with the Atlantic League's Long Island Ducks that ESPN's Darren Rovell reported was worth $500 a week. His stint with the Ducks led to his resurgence in the majors at age 35 when he spent September 2015 in Boston, and his comeback finally paid off on Monday. At 36 years old, after battling through multiple arm injuries and struggling to stay in the majors, Hill finally got his big check, signing a three-year, $48-million deal with the Dodgers that brought out plenty of emotion at his press conference. Even critics of the money factor have to appreciate the moment for Hill, who overcame many obstacles to reach this point in his career.

Losers

Baltimore Orioles

The Baltimore Orioles, once again, are taking the "wait and see" approach in free agency and still have a lot of holes on its roster. On Monday, the Toronto Blue Jays signed Steve Pearce - a former Oriole - to a two-year, $12.5-million deal. To make matters worse, the Orioles seem to be moving away from the idea of re-signing Mark Trumbo, who is coming off a season where he hit a league leading 47 home runs. With Trumbo likely gone and holes at catcher, DH, and in the outfield, the Orioles need some help, though the club's interest in Michael Saunders is a step in the right direction.

Edwin Encarnacion

It's plenty early and good players almost always get paid in free agency, but Day 1 of the winter meetings wasn't kind to Encarnacion. The free-agent slugger appeared to have lost another suitor Monday with his former club, the Toronto Blue Jays, agreeing to a two-year deal with Steve Pearce. GM Ross Atkins all but ruled out a reunion between the club and Encarnacion "not probable." The Rangers, Red Sox, Astros, and Yankees are all believed to be out of the running for Encarnacion for now.

Washington Nationals

They may be closing in on a trade for Chris Sale, but it wasn't all rosy for the winter meetings' de facto home team. A report suggested that the Nationals will not meet Bryce Harper's apparent demands for a $400-million contract in two years time, and are already preparing to let him walk once his free agency hits in 2018. Shortly after that, another report suggested that the team believes the asking price for Andrew McCutchen is too high, and are moving away from trying to trade for him. Even if they do land Sale, much of the focus in D.C. going forward will likely be centered on whether or not the team is good enough to get over the hump while Harper's still in tow. The first day of the meetings could have gone a bit better, to be sure.