Mets sign Edwin Diaz to largest deal ever for reliever as free agency begins, source says
Mets pitcher Edwin Diaz reacts after getting the save in the ninth inning against the Dodgers at Citi Field on Aug. 31. Credit: Newsday/Thomas A. Ferrara
The Mets, needing to build a bullpen almost entirely from scratch this offseason, got off to a fast and expensive start Sunday.
They agreed to a five-year, $102 million contract with Edwin Diaz, pending a physical, a source said, a massive financial reward at the end of a season that represented a remarkable turnaround for the once-beleaguered closer. His is the largest deal ever for a reliever by total value and by average annual value ($20.4 million).
Other contractual details include a team option for 2028 that would bump the numbers up to six years and $122 million, an opt-out clause for Diaz after the 2025 season and a full no-trade clause for the first three seasons (plus a partial no-trade clause for the rest).
Such an arrangement satisfies both parties: the Mets, who had identified keeping Diaz as a primary offseason objective, and Diaz, who was open about his desire to return. As he said on the night the Mets’ season ended: “I hope I can come back here . . . I hope they come to me quick to talk.”
They did.
Diaz and others officially became free agents on Sunday, a day after the World Series ended, but aren’t allowed to sign with other teams until later this week. Capitalizing on that exclusive negotiating window, general manager Billy Eppler proposed terms Diaz couldn’t refuse, offering nine figures to convince him to skip the traditional free-agent process.
Now, with the general managers’ meeting in Las Vegas starting Monday night, marking the unofficial kickoff to MLB’s offseason, the Mets can pencil at least two names into their 2023 bullpen: Diaz plus Drew Smith, the only regular holdover from last season.
This deal with Diaz does come with risk for the Mets, though. Relievers’ year-to-year performance is notoriously volatile, and Diaz specifically has had a wild ride in his years with the team.
He was an All-Star when he came to Queens in the December 2018 blockbuster trade with the Mariners, orchestrated by then-GM Brodie Van Wagenen, alongside Robinson Cano for a package of players headlined by Jarred Kelenic, a premier prospect who has not become an impact major-leaguer.
Diaz struggled in 2019, posting a 5.59 ERA and losing his job as closer. He was briefly removed from that role in 2020, too, but was far more effective overall in the pandemic-shortened season. He usually was solid but sometimes was shaky in 2021 (3.45 ERA), then had the best year of his career in 2022: 1.31 ERA, a 50.2% strikeout rate and zero blown saves after May. He was an All-Star again and his entrance music — “Narco,” by Blasterjaxx and Timmy Trumpet — became a Citi Field phenomenon.
After news of his new deal with the Mets broke Sunday night, catcher Tomas Nido tweeted three trumpet emojis.
An example of the hazards inherent to this sort of contract for even the best of closers: The previous record-holder for largest reliever contract was Aroldis Chapman, who received $86 million (over five years) from the Yankees after the 2016 season. He was injured and far less effective near the end of that term (which included a one-year extension getting tacked on).
The White Sox’s Liam Hendriks, at $18 million per year, previously had the highest average annual salary for a reliever.
The other Mets who become free agents Sunday were Tommy Hunter, Seth Lugo, Trevor May, Tyler Naquin, Brandon Nimmo, Adam Ottavino, Joely Rodriguez and Trevor Williams. Six of them are relievers, underscoring the Mets’ need for at least several more bullpen arms to set up for Diaz.
Jacob deGrom (opt-out clause), Chris Bassitt (mutual option), Taijuan Walker (player option) and others also are set to hit the open market in the coming days after their contractual technicalities get sorted out.
The Mets reportedly exercised their $1.5 million team option for designated hitter Daniel Vogelbach on Sunday. That did not register as a surprise. Part of their attraction to him as a trade acquisition in July was that he was under team control beyond the 2022 season, and at that price, he would be of use even as only a lefthanded-hitting bench bat. They also could trade or cut him at a minimal sunk cost if they deem him expendable.
Tim Healey is the Mets beat writer for Newsday. Born on Long Island and raised in Connecticut, Tim has previously worked for the South Florida Sun Sentinel, the Boston Globe and MLB.com. He is also the author of “Hometown Hardball,” a book about minor league baseball in the northeast.
