It was widely expected that All-Star closer Edwin Díaz would set a record for the largest deal ever signed by a reliever when he reached free agency, so the reported value of his new contract with the Mets — five years, $102 million, per a source — wasn’t all that surprising.
The timing of the deal was, however.
Díaz’s agreement with New York came just hours after free agency began and days before he could negotiate with other clubs. The early deal takes the top closer option off the board and could have a domino effect on the rest of the reliever market, with the long list of teams in need of a high-leverage bullpen arm left scrambling.
Here’s a breakdown of where things stand — who needs a closer, who’s available in free agency and which relievers might be available in a trade.
The list of teams in need of a closer starts with two of the biggest-market clubs in baseball, the Dodgers and Yankees. Both teams saw their big-name stoppers falter in 2022 — Craig Kimbrel with Los Angeles and Aroldis Chapman with New York — and had to piece together the ninth inning in the postseason.
The Phillies, fresh off a World Series appearance, could seek closing help after three of their top four saves leaders from 2022 — Corey Knebel, David Robertson and Brad Hand — all hit free agency on Sunday.
The Angels traded Raisel Iglesias to the Braves at the 2022 Trade Deadline just months after signing him to a four-year, $58 million contract, and the club doesn’t have an obvious replacement on the roster at this point.
Other teams that could try to bring in a new closer include the Twins, Rangers, Orioles, D-backs, Cubs, Marlins and Tigers.
Who’s available in free agency
This year’s reliever market is a who’s who of some of the best closers of their generation, with Kimbrel, Chapman, Robertson and Kenley Jansen all reaching free agency.
Unfortunately for closer-needy teams, most of these name-brand options are coming off down seasons.
Jansen is the best closer remaining on the market in the wake of Díaz’s deal with the Mets. After 12 years with the Dodgers, Jansen was a free agent last offseason and signed a one-year, $16 million deal with the Braves. The 35-year-old went on to post a 3.38 ERA with an NL-leading 41 saves, albeit with seven blown saves.
Montero just proved his mettle handling high-leverage situations for the World Series-champion Astros, going 1-0 with four holds, a 1.93 ERA and 10 K’s over 9 1/3 innings in his first postseason.
Suarez was an elite closer for the Hanshin Tigers in Japan’s Nippon Professional Baseball before signing with the Padres, and he’s a free agent again after declining his player option. The right-hander was outstanding as a big league rookie for San Diego before Bryce Harper took him deep for the decisive homer in the NLCS.
Who might be available in a trade
High-leverage relievers are more commonly traded during the summer, but given the uncertainty surrounding many of the top free-agent options, we could see teams look to the trade market this offseason to satisfy their closer needs.
The rebuilding Pirates, Royals and Reds could be incentivized to trade their 2022 saves leaders — David Bednar, Scott Barlow and Alexis Díaz, respectively — though not without a significant package in return.
Bednar, a 2022 All-Star, has four years of team control remaining, while Barlow has two. Díaz, Edwin’s brother, was a rookie this past season and is likely to be the most expensive of the three. The 26-year-old flamethrower finished 2022 with a 1.84 ERA, a 0.96 WHIP and 83 K’s in 63 2/3 innings.
It’s possible the Tigers could look to capitalize on the recent success of Gregory Soto, who made the All-Star team in each of the past two years. The 27-year-old lefty is under control for three more years and posted a 3.34 ERA with 48 saves and a 9.9 K/9 across 2021-22. However, he also notched a 5.4 BB/9 and 1.36 WHIP in that span, making him a risky proposition for Detroit moving forward. His trade value might never be higher.
Then there’s 37-year-old Mark Melancon, who signed a two-year, $14 million deal with the D-backs last December. The right-hander is not far removed from leading MLB in saves with the Padres in 2021, and he had a decent finish after a rough start to his Arizona tenure. It’s unlikely that the D-backs will drive a hard bargain if a team wants to take a chance on Melancon, who is still owed $8 million (including a $2 million buyout on his 2024 mutual option).
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