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The Mets struck early this offseason, locking in Edwin Diaz to a 5 year, $102M contract during the exclusive negotiations portion of free agency. With full details of that contract now available, we’ll dive deep into the facts and figures here.

The Total Value

With a base value of $102M, Diaz’s new contract is the highest total value deal in relief pitcher history - by a bunch.

1. Edwin Diaz, $102M
2. Aroldis Chapman, $86M
3. Kenley Jansen, $80M
4. Mark Melancon, $62M
5. Raisel Iglesias, $58M

When factoring in the 6th year club option, and annual award bonuses, there’s a world where this contract can approach $120M in full.

The Average Salary vs. the Tax Salary

On its face, the $20.4M per year average annual salary blows the reliever market out of the water, as Liam Hendriks ($18M), Aroldis Chapman ($16M), & Kenley Jansen ($16M) currently held the top spots.

If we take position out of the equation, Diaz becomes the 41st highest average paid player in baseball at the time of his signing, 3rd-highest for the Mets (Scherzer, Lindor).

Things change quite a bit from a luxury tax perspective though. $26.5M of the base contract is deferred compensation, which drops the tax salary (CBT) to around $18.6M. With the Mets projected to soar past the $233M tax threshold this season, every little bit of savings helps.

The Cash Breakdown

Enter at your own risk here.

Diaz will cash a $12M signing bonus right now plus $11.75M of his $17.25M base salary this season. The remaining $5.5M is deferred to 2033-2035.

$11.75M in-season, $5.5M more 2035-2037.

$12M in-season, $5.5M more 2037-2039

$13.5M in-season, $5M more 2039-2041

$14.5M in-season, $5M more 2041-2042

$17.25M club option, or a $1M buyout

The Bells & Whistles

Player Opt-Out
Diaz will have the ability to opt-out of this contract after the 2025 season, or 3 years, $64M. He’ll be approaching 32 years old at this time, with a minimum 2 years, $38M remaining on the contract (plus a possible $17.25M club option). An awful lot has to go very well for an opt-out to be considered a likely path.

Trade Clause
Diaz gains a full no trade clause now through the 2025 league year. On November 1st, 2025, that converts to a 10-team no trade clause through the remainder of the contract.

Award Bonuses
Diaz can earn an additional $100,000 each time he’s tagged World Series MVP or Reliever of the Year. Another $50,000 for each All-Star, Gold Glove or LCS MVP selection. And $50,000 for a Cy Young award ($25,000 for 2nd, $10,000 for 3rd).