Edwin Diaz already holds the record for the largest contract given to a reliever. He may set a new record this offseason.
Diaz had signed a five-year, $102M contract, with an opt-out clause after three years, during the 2022-23 offseason to return to the New York Mets. The contract had an inauspicious start as Diaz tore the patellar tendon in his right knee during the World Baseball Classic, costing him the season. After a decent 2024 performance, Diaz was back with a vengeance in 2025, posting a 1.63 ERA and a 0.874 WHiP over 66.1 innings, notching 28 saves while striking out 98 batters with 21 walks. His decision to walk away from the final two years and $38M was an easy one, as was his decision to decline the qualifying offer.
Diaz may already have his next contract in mind. According to Ken Rosenthal and Will Sammon of The Athletic, Diaz is looking for virtually the same contract he received from the Mets ahead of the 2022 season. Considering how dominant Diaz was in 2025, and his overall track record, he may get that deal.
Diaz has become a free agent for the first time in his career. Let’s look at three potential landing spots.
Three potential landing spots for Edwin Diaz in free agency
The Mets had plenty of blame to go around for their second-half collapse in 2025 and the bullpen was not immune. Mets relievers posted a middling 4.08 ERA and a 1.279 WHiP over 265 innings, the third-most innings of any bullpen after the All-Star Break. Diaz, however, was part of the solution, posting a 1.59 ERA and a 0.882 WHiP over 28.1 innings in the second half as he did his part to push the Mets to the playoffs.
It is fair to wonder if president of baseball operations David Stearns would want to make that type of commitment to a closer. However, the Mets bullpen is in a state of flux with 10 relievers entering free agency. Diaz has proven he can handle closing in New York and is one of the best relievers in baseball. While any pitcher is a gamble on a long-term deal, retaining Diaz may be the Mets best option as they look to retool the bullpen.
Closer Jeff Hoffman looked like a bargain through April, allowing just two runs on eight hits and a walk over 15.1 innings, striking out 22 batters while recording six saves. He struggled afterward, posting a 5.30 ERA and a 1.367 WHiP over his final 52.2 innings. Hoffman was solid in the postseason but also gave up the game-tying home run to infielder Miguel Rojas in the ninth inning of Game Seven of the World Series.
Hoffman has proven to be an excellent setup man but may not be the best option for the ninth inning. Adding Diaz would give the Blue Jays a dominant back of the bullpen. Likewise, it would underscore that the Blue Jays have become a destination team, a place free agents want to go to. That alone could be worth the price of Diaz’s next contract.
Despite all the star power in Los Angeles, the back of the Dodgers bullpen was a weak point in 2025. Roki Sasaki, who struggled over eight major league starts before missing most of the season due to injury, emerged as the Dodgers’ most trusted reliever. Sasaki, however, is expected to return to the rotation in 2026.
The Dodgers have the makings of a solid bullpen. Tanner Scott and Blake Treinen have been excellent relievers over their careers. However, the Dodgers need a proven closer. Diaz could be the final piece to turn the back-to-back World Series champions into a true force on the diamond.
