Edwin Díaz will continue to be paid by the New York Mets for a very long time.
The star closer's five-year, $102 million deal with the Mets, which was announced Wednesday, includes $26.5 million in deferred payments until 2042, per the Associated Press (h/t ESPN).
Díaz's contract also includes a team option for 2028 that could make the total value of the deal worth $118.25 million, though none of that money would be deferred. He has player options for 2026 and 2027, though he must decide whether or not to pick those up in 2025.
The Mets will defer $5.5 million per year from 2023-25 and $5 million in both 2026 and 2027. Díaz will receive $2.65 million each year in deferred money from 2033 through 2042.
Mets general manager Billy Eppler told reporters this week that deferred payments were a big reason why a deal was reached:
“On our end, I don’t want to use the word ‘deal breaker,’ but it was a very big element for us,” Eppler said. “We needed to have that in there for the CBT [competitive balance tax] purposes.”
Díaz's contract with the Mets set the record for a reliever. Aroldis Chapman's five-year, $86 million deal signed with the New York Yankees after the 2016 season was previously the high for a bullpen arm.
Díaz has been with the Mets since the 2019 season after beginning his career with the Seattle Mariners in 2016. He put together the best season of his career in 2022, posting a 1.31 ERA, 0.839 WHIP and 118 strikeouts in 62 innings across 61 appearances. In addition, he recorded 32 saves.
In his four seasons with the Mets, the 28-year-old has posted a 3.20 ERA, 1.104 WHIP and 96 saves in 216 games.
With Díaz locked up, the Mets can focus on trying to re-sign their other high-profile free agents, including Jacob deGrom and Brandon Nimmo. DeGrom figures to receive a massive deal.