Edwin Diaz will not receive his full $69 million contract from the until 2047, but his signing raises the franchise’s total deferred payment obligations to over $1.06 billion, spread across nine players. Diaz’s new three-year deal, announced Friday, includes a $9 million signing bonus payable by February 1. His salary structure for the coming seasons is $14 million in 2025 and $23 million annually for 2026 and 2027, with $4.5 million of each year’s salary deferred.
The deferred amounts will be paid in 10 equal installments every July 1, starting in 2036 for the 2026 portion, continuing through to 2047 for the 2028 portion. The hold a conditional $6.5 million team option for Diaz in 2029, exercisable without a buyout if Diaz suffers injuries or undergoes specific surgeries through the 2028 season. If this option is used, Diaz could earn additional performance bonuses up to $2.5 million based on games played in 2029.
During his contract term, Diaz will stay in a hotel suite and pledge 1% of his earnings to charity. With Diaz’s deferral, the ’ total deferred payments now amount to $1,064,500,000, with peak payments of $102.3 million expected in 2038 and 2039.
Among the other players with deferred contracts are star two-way player Shohei Ohtani ($680 million deferred from 2034-2043), outfielder/infielder Mookie Betts ($115 million from 2033-2044), left-handed pitcher Blake Snell ($66 million from 2034-2043), first baseman Freddie Freeman ($57 million from 2028-2040), catcher Will Smith ($50 million from 2034-2043), utility player Tommy E. Doman ($25 million from 2037-2044), reliever Tanner Scott ($21 million from 2035-2046), and outfielder Teoscar Hernandez ($32 million from 2035-2046).
The struggled with bullpen performance last season. Diaz, a three-time All-Star turning 32 in March, recorded a 6-3 win-loss record, a 1.63 ERA, and 28 saves in 31 opportunities while striking out 98 batters over 66⅓ innings for the Mets—a team that missed the playoffs despite significant spending. Over nine seasons with Seattle and New York, Diaz has successfully closed 253 out of 294 save chances. After the 2022 season, he signed a $102 million, five-year contract with the Mets with deferred payments stretching through 2042 but waived the $38 million owed for the last two years of that deal.
Fan Take: This contract highlights the growing trend of MLB teams using deferred payment structures to manage salary caps and long-term financial planning. For fans, it signals that elite talents like Diaz remain accessible, but it also raises questions about how such massive future obligations might affect team building and competitiveness in coming decades.
