It’s the main event of the offseason.

The winter meetings begin Sunday in Dallas, bringing together executives, agents and the rest of the baseball world. Although teams and players can start talking five days after the end of the World Series, this is the week when deals come together and teams lay the foundation for the rest of the offseason.

There’s a lot riding on this winter for the Orioles. They have made the playoffs in back-to-back seasons for the first time since 1997 but have failed to win a game in either series. Two of their top contributors from last season — starter Corbin Burnes and switch-hitting outfielder Anthony Santander — are free agents, and both will be seeking long-term deals that the Orioles, under general manager Mike Elias, haven’t been willing to provide.

But this is the first offseason under David Rubenstein and his new ownership group, so this could be the Orioles’ chance to show things will be different now, even though some in the industry are wary still.

Here’s what to keep an eye on next week:

Should I expect the Orioles to do something this week?

Keep your expectations low. Elias has said in the past that he does not see a need to get deals done during the winter meetings.

“Definitely no sense of urgency,” Elias said last year. “I’ve never been one to view these meetings as some type of compressed time frame where you have to do something. It’s just not the way we approach these meetings.”

Last year, the Orioles made one move, signing reliever Craig Kimbrel to a one-year, $13 million contract.

What are the Orioles looking for?

A starter, a reliever, a right-handed-hitting outfielder and a backup catcher.

Right now, their rotation consists of Zach Eflin, Grayson Rodriguez, Albert Suárez, Dean Kremer and Cade Povich. Tyler Wells and Kyle Bradish are expected back midseason from elbow surgery, although the Orioles haven’t given a timetable for their return.

The Orioles could use an ace — someone like Burnes — to lead the crew. And, as last season’s long list of pitching injuries showed, they can never have enough starters.

As for the bullpen, the Orioles have holes to fill after declining to pick up lefty Danny Coulombe’s option and non-tendering righty Jacob Webb. Another late-inning reliever couldn’t hurt, either, because the Orioles do not plan to give the closer title immediately to Félix Bautista — who missed last season after getting Tommy John elbow reconstruction surgery — as he acclimates to games again.

They also need a right-handed-hitting outfielder. Cedric Mullins, Heston Kjerstad and Colton Cowser are left-handed hitters. Daz Cameron, whom they acquired from the Athletics for cash at the end of October, is the only right-handed-hitting outfielder on their 40-man roster, but he hit .200 in 66 major league games last year and should be seen as Triple-A depth.

Behind the plate, Adley Rutschman will be back as the No. 1 catcher, but James McCann, who played a valuable veteran role on and off the field, is a free agent. Samuel Basallo, the team’s No. 2 prospect, isn’t seen as being ready for the majors at the start of the season. Their internal options are René Pinto, claimed off waivers from the Rays last month, and Blake Hunt.

Who are the available free agents?

It’s Juan Soto’s world, and every other free agent is just living in it. He’s the diamond of the offseason, and, as past winters have shown, Soto likely needs to sign before the rest of the dominos fall. His deal — which could be as large as $600 million — will set the market. He has reportedly met with the Mets, Yankees, Blue Jays, Dodgers and Red Sox.

Outside of Soto, Burnes is the top pitcher on the market. Blake Snell signed a five-year, $182 million contract with the Dodgers this offseason, and Burnes, a four-time All-Star and the 2021 NL Cy Young winner, has the credentials to surpass that number.

Left-handed pitcher Max Fried and right-hander Nathan Eovaldi could be cheaper options for the Orioles.

Santander, coming off a career-high 44 home runs, should warrant significant interest. Jurickson Profar, Randal Grichuk and Teoscar Hernández are right-handed hitters who could be good fits to replace him in the outfield.

How’s the Orioles payroll looking?

The big question looms: Will the Orioles, frugal throughout John Angelos’ tenure, spend more under Rubenstein? The Orioles had the fourth-lowest payroll on opening day.

The team showed a willingness at the midseason trade deadline to take on additional payroll, acquiring Eflin from the Rays and not shying away from the $18 million he is owed for the 2025 season. They also picked up Ryan O’Hearn’s option — his salary will increase from $3.5 million in 2024 to $8 million in 2025 — and Seranthony Domínguez’s $8 million option.

The Orioles also have 15 arbitration-eligible players — including Rutschman and Kremer entering that level this offseason — who will receive small bumps in their salaries.