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Blue Jays, Tyler Rogers Agree To Three-Year Deal

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The Blue Jays are in agreement with free agent reliever Tyler Rogers on a three-year, $37MM contract, reports Ken Rosenthal of The Athletic. The deal, which is pending a physical, includes an $11MM vesting option for the 2029 season, specifics of which have not been reported. Toronto has a full 40-man roster and will need to make a corresponding move. Rogers is represented by Frontline Athlete Management.

Rogers, who’ll celebrate his 35th birthday next week, secures a sizable payday to pitch at the back of the Toronto bullpen. One of the sport’s most distinctive pitchers, Rogers is a soft-tossing submariner who bided his time awaiting an MLB opportunity. He was a 10th-round pick by the Giants in 2013 who signed for $7,500 after his senior season at Austin Peay State University. Rogers spent the next six years in the minor leagues, performing well all the way up through Triple-A but without the raw stuff to get the attention of the big league club.

It wasn’t until the end of Rogers’ third full season in Triple-A that he received an MLB look. He was nearing his 29th birthday and close to calling it quits to pursue a career as a firefighter (as Alex Pavlovic of NBC Sports Bay Area covered in 2020). The Giants finally gave him an opportunity at the end of the ’19 season. Rogers tossed 17 2/3 innings of three-run ball to hold his roster spot. He broke camp the following year and has never gone back down to the minors — not even on a rehab stint.

Rogers has played six-plus seasons in the big leagues without going on the injured list. While there’s obviously some luck involved in avoiding any fluke injuries, it’s clear that his underhand delivery puts less stress on his arm. Rogers has made 403 appearances since the start of the 2020 season. That’s 30 more than any other pitcher. Most of those outings have come in high-leverage situations, as his arm angle continues to flummox hitters.

After posting a 4.50 earned run average as a rookie, Rogers has turned in a 3.04 mark or better in four of the past five seasons. He ranks near the bottom of the league in whiffs and has never posted a league average strikeout rate. That’s to be expected for a pitcher who throws an 82-83 MPH sinker and a sweeping breaking ball that clocks in around 74 MPH. It’s a profile designed for weak, ground-ball contact. Rogers gets that year after year, and he almost never puts batters on via base on balls.

While some pitchers with extremely low arm slots can struggle with opposite-handed batters, that hasn’t been an issue for Rogers. He has held lefties to a .235/.289/.336 line in 776 career plate appearances. Right-handed hitters haven’t fared much better, turning in .246/.282/.350 mark in nearly 1000 trips to the plate.

Rogers has spent the bulk of his career in San Francisco, including a two-year stretch where he overlapped with twin brother Taylor Rogers. The Giants fell out of contention shortly before the trade deadline and flipped the impending free agent to the Mets for middle reliever José Buttó and prospects Blade Tidwell and Drew Gilbert. Rogers continued churning out results in his new home, pitching 27 1/3 innings of 2.30 ERA ball. He finished the season with a career-best 1.98 earned run average behind a 62.1% grounder rate while leading MLB with 81 appearances.

The Mets unsurprisingly wanted Rogers back, but they balked at what turned out to be a surprisingly lucrative contract. He more than doubled MLBTR’s prediction of a two-year, $18MM deal. New York has also seen Edwin Díaz, Gregory Soto and Ryan Helsley sign elsewhere. They’ve added Devin Williams to close but will need to find multiple setup arms from the right side.

That’s the role Rogers should continue to fill with the Jays. Toronto was open to supplanting Jeff Hoffman in the ninth inning, but they didn’t come away with any of Díaz, Raisel Iglesias or Robert Suarez. Rogers had a brief run as San Francisco’s closer in 2021 but has otherwise been a setup man. He was fourth in MLB with 32 holds this past season and handily leads the majors in that category over the last six years. Rogers joins Louis Varland as the top leverage arms in front of Hoffman.

The Jays could still look to add a better left-hander than Brendon Little, but Rogers becomes the fifth member of their projected bullpen who cannot be optioned to the minor leagues. Hoffman, Yimi García and Eric Lauer all have the five-plus years of service time to refuse any minor league assignment. Tommy Nance is out of options. Varland can be optioned but certainly isn’t in jeopardy of being sent down. If the Jays have all six starters healthy going into the season, that’d leave only one spot for Little or another left-handed acquisition. That’s to say nothing of the out-of-options Justin Bruihl and Rule 5 picks Angel Bastardo and Spencer Miles — all of whom have an uphill battle to stick on the roster.

Those are secondary considerations for an all-in Toronto team. The $12.333MM average annual value pushes their estimated luxury tax number to $294MM, as calculated by RosterResource. That’s already easily a franchise high before considering the possibility that they add Kyle Tucker or bring back Bo Bichette.

That’ll be their second straight season paying the competitive balance tax. They’re hit with a 42% tax on spending between $264MM and $284MM and taxed at a 75% rate from $284MM to $304MM. Any spending above the final threshold comes with a 90% penalty. The Rogers deal will come with an approximate $8-9MM tax bill. It also firmly pushes them beyond the $284MM mark at which their top pick in the 2027 draft is moved back by 10 spots (though that was basically inevitable after the Dylan Cease and Cody Ponce signings).

It’s a significant investment in a 35-year-old reliever. The Braves also went to three years, at $15MM annually, to sign Suarez on Thursday. That was the first three-year contract for a reliever that age since 2020. There hadn’t been a three-year term at more than $10MM per season for a 35-year-old bullpen arm since Mariano Rivera almost two decades ago. A closer who sits around 99 MPH, Suarez breaking that precedent wasn’t as surprising. The Jays are betting on Rogers’ unconventional style to age equally well.

Image courtesy of Kyle Ross, Imagn Images.

Royals Sign Kevin Newman, Jose Cuas To Minor League Deals

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The Royals announced the signing of infielder Kevin Newman and reliever Jose Cuas to minor league contracts. The team only officially announced a non-roster invite to Spring Training for Newman.

Newman, 32, was a regular shortstop for the Pirates early in his career. He has played on different teams in each of the past four seasons, settling in as a light-hitting utility player. Newman batted .278 over 111 games with the Diamondbacks in 2024. That earned him a major league contract from the Angels last offseason, but he mustered only a .202/.209/.272 showing over 116 trips to the plate. The Halos designated him for assignment when they took a flier on former top prospect Oswald Peraza at the trade deadline.

The right-handed hitting Newman finished the season in Triple-A with the Tigers. He hit .296 with a .377 on-base percentage over 15 games but didn’t get an MLB look with Detroit. Newman puts the ball in play but rarely with any authority. He doesn’t walk very often and grades as a slightly below-average defender around the infield. He’ll try to win a bench spot in Spring Training behind Jonathan India, Bobby Witt Jr. and the newly-extended Maikel Garcia.

Cuas returns to Kansas City, where he first reached the majors in 2022. The righty turned in a 3.58 ERA across 37 2/3 innings as a rookie. An early-season spike in strikeout rate the following year caught the attention of the Cubs. The Royals dealt him to Chicago in a swap for young outfielder Nelson Velazquez. It didn’t work for either team, as both players struggled in their new environment. The Cubs waived Cuas less than a year after the trade, and he spent the 2025 season in the minors. He divided his time between the Phillies’ top affiliate and Atlanta’s Double-A club, posting a combined 5.20 ERA over 27 2/3 innings.

Rangers To Sign Danny Jansen

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The Rangers are in agreement with free agent catcher Danny Jansen on a two-year, $14.5MM deal, reports Robert Murray of FanSided. The contract includes another $1MM in bonuses for the ISE Baseball client. Texas entered the night with 35 players on their roster and will not need to make any corresponding moves to accommodate this evening’s flurry of free agent activity.

It’s the second straight offseason in which the Rangers added a free agent catcher on a two-year contract. They signed Kyle Higashioka to a $13.5MM deal last winter. Jansen gets a nearly identical contract to split the playing time in 2026. Texas needed a catcher after non-tendering Jonah Heim on the heels of a second straight down year.

Jansen and Higashioka won’t match up in a strict platoon. They both hit from the right side. Neither player has huge platoon splits over the course of their careers. That’ll allow Skip Schumaker to divide the playing time based on comfort with each day’s starting pitcher. Higashioka and Jansen are similar players overall, though the latter is the more patient hitter. That provides a slightly higher floor from an on-base perspective even if neither player is likely to hit for a high average.

The 30-year-old Jansen (31 in April) was an underrated all-around catcher early in his career with the Blue Jays. He generally performed well in limited playing time but struggled to stay healthy for a full season. Jansen has avoided injuries over the past two years except for a small wrist fracture that cost him the first couple weeks of the 2024 campaign. His production on both sides of the ball dropped that year, though, leaving him to take an $8.5MM pillow contract with the Rays.

Jansen’s numbers rebounded to an extent in Tampa Bay. He hit .204/.314/.389 with 11 home runs across 259 plate appearances. It was at least a jump from a power perspective, as he connected on two more homers in that half-season than he had over 94 games in 2024. His defensive performance was mixed. Jansen is among the league’s best at blocking balls in the dirt, but his pitch framing numbers have declined over the past couple years. He doesn’t have great pure arm strength yet managed to throw out a solid 24% of baserunners after struggling in that regard in 2024.

Tampa Bay dealt him to the Brewers at the deadline. While it was surely a nice return home for the Appleton, Wisconsin native, that wasn’t an ideal landing spot a couple months before free agency. William Contreras plays as much as any catcher. Jansen only got 16 starts and tallied 78 plate appearances with the Brew Crew. He made the most of the sporadic playing time, adding another three homers and doubles apiece. He hit .254/.346/.433 in that limited look. While Jansen isn’t a high-end #1 option, he’s overqualified for a backup role behind one of the five best catchers in the game.

It was always going to be a brief stint in Milwaukee. They made the easy call to decline a $12MM option and look for a much cheaper backup catcher. Jansen finds a better landing spot in Arlington. He benefitted from a weak free agent class. The Rangers weren’t willing to spend what it’d take to add J.T. Realmuto. That left Jansen and Victor Caratini as the only real possibilities if they were going to sign a catcher. Everyone else in the class is a backup or organizational depth type.

RosterResource estimated the Rangers’ payroll around $167MM heading into the evening. Evenly distributing Jansen’s salaries would push that close to $174MM. Texas also agreed to one-year deals with Alexis Díaz and Tyler Alexander. Contract terms for the two pitchers are unreported, though it’s unlikely they cost more than a couple million dollars between the two of them.

The Rangers opened the 2025 season with a player payroll around $218MM. They’ve been clear that number is coming down, though it’s not known to what extent ownership is willing to go. It appears the front office will do its heavy lifting either in the lower rungs of free agency or via trade. They could use a mid-rotation starter and still need to add multiple relievers. Upgrading at least one of first or third base would also be ideal, though that’s a lot to accomplish on what appears to be a tight budget.

Image courtesy of Imagn Images.

Rangers To Sign Tyler Alexander

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The Rangers are signing left-hander Tyler Alexander to a one-year contract, reports Jeff Passan of ESPN. Salary figures for the SSG Baseball client haven’t been reported. Texas entered the night with 35 players on their roster. That’ll jump to 38 once they finalize their contracts with Alexander, Danny Jansen (covered here) and Alexis Díaz (covered here).

Alexander will provide a multi-inning arm out of Skip Schumaker’s bullpen. The 31-year-old logged 97 2/3 innings across 52 appearances between the Brewers and White Sox this year. He started five games, all but one coming with Milwaukee in the beginning of the season, but spent the bulk of the year pitching 3-4 inning stints in relief. While the Rangers could theoretically give him a look in the rotation, it’s more likely they’d view Jacob Latz as a true swing option while pitching Alexander in low-leverage relief.

The southpaw was hit hard over his few months in Milwaukee. He carried a 6.19 ERA in 36 1/3 frames when they designated him for assignment in June. Alexander cleared waivers but found an immediate MLB opportunity in Chicago once he hit free agency. He pitched well enough as a veteran bullpen piece to stick on the roster for the reminder of the season. Alexander worked to a 4.26 earned run average over 61 1/3 innings in a White Sox uniform. He had a modest 20.1% strikeout rate but limited the walks and hard contact reasonably well.

That was enough to earn another big league contract. It comes with the added bonus of being with his hometown club. Alexander is a Southlake, Texas native who played collegiately at TCU. He was a second-round pick by the Tigers in 2015 and has spent the majority of his career in Detroit. Alexander owns a 4.63 ERA over parts of seven seasons. He sits in the 90-91 MPH range but mixes five pitches and did a decent job staying off barrels this year.

The Rangers constructed their 2025 bullpen mostly with a series of cheap one-year free agent pickups. It worked as well as they could’ve hoped, as the relief corps turned in a 3.62 ERA despite ranking 20th in strikeout rate and finishing third from the bottom in average fastball velocity. It’s not going to be easy to replicate. They’re likely in for a similar effort this offseason.

RosterResource estimated the Rangers’ payroll around $167MM heading into the evening. Evenly distributing Jansen’s salaries would push that close to $174MM. Contract terms for the two pitchers are unreported, though it’s unlikely they cost more than a couple million dollars between the two of them. Texas opened the 2025 season with a player payroll around $218MM. They’ve been clear that number is coming down.

Image courtesy of Patrick Gorski, Imagn Images.

Rangers To Sign Alexis Diaz

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The Rangers are in agreement with reliever Alexis Díaz on a one-year deal, reports ESPN’s Jeff Passan. Evan Grant of The Dallas Morning News first suggested that the sides were closing in on a deal, and has suggested the contract will be on the cheaper side.

With Phil Maton, Chris Martin, Jacob Webb, Hoby Milner, and Danny Coulombe all reaching free agency after the season, Rangers president of baseball operations Chris Young has to assemble a new bullpen once again.  He made a pair of relief additions within minutes of each other Friday night with the signings of Diaz and Tyler Alexander.

Diaz, 29, was a 12th round pick of the Reds out of a Puerto Rico high school a decade ago.  He skipped Triple-A to make the Reds’ Opening Day roster in 2022, making good on the promotion by posting a 1.84 ERA and earning a fifth place Rookie of the Year finish despite a bout with biceps tendinitis.  With a strong start to the 2023 season, Diaz earned an All-Star nod.  He finished third in the NL with 37 saves that year.  Diaz punched out 31.2% of batters faced during his first two seasons, 14th in baseball among relievers with at least 100 innings.  However, he also had the fourth-worst walk rate in that group at 12.8%.

Diaz was able to save another 28 games with a 3.99 ERA for the Reds in 2024, but his strikeout rate plummeted to 22.7% with the walks remaining a problem.  On the strength of his saves totals and early success, he landed a $4.5MM salary for 2025 as he entered the arbitration system.

The righty started 2025 on the IL with a hamstring injury, and things only went downhill from there.  Diaz was still under consideration for the Reds’ closing job when he made his mid-April season debut, but after a disastrous three-homer outing against the Cardinals on April 30th, he was sent back to Triple-A.

Diaz’s control issues continued at Triple-A, and by the end of May the Reds sent him to the Dodgers in a trade for minor league pitcher Mike Villani.  Diaz served in a low-leverage, up-and-down capacity for the Dodgers, who eventually designated him for assignment on September 4th.  He then joined the Braves in a waiver claim and made three appearances before being sent down.  Diaz elected free agency in early October.

Diaz’s nine-game stint with the Dodgers was easy to forget, but it ending up playing a role in the club signing his older brother Edwin a few days ago to a three-year, $69MM deal.  According to Edwin, “He told me the Dodgers are a really good organization. He made it easy for me.”

Alexis may be on the opposite end of the relief salary spectrum as compared to his older brother, but Chris Young had success last winter with bargain-basement relievers.  He let Kirby Yates and David Robertson depart for greener pastures, signing Armstrong, Webb, Milner, Martin, and Luke Jackson to one-year deals topping out with Martin’s $5.5MM.  All but Jackson had solid years.  Milner and trade deadline pickup Maton signed with the Cubs this offseason.  Southpaw Robert Garcia serves as the main holdover.

Mike Maddux departed for the Angels after three years as the Rangers’ pitching coach, leading the club to elevate Jordan Tiegs to the role under new manager Skip Schumaker.  According to Shawn McFarland of the Dallas Morning News, “Tiegs, 38, ran the team’s bullpen last season in his first on-field role with the big league club, helped stabilize a group that was largely pieced together the previous winter and drew positive reviews from veteran relievers and organizational higher-ups.”

Tiegs will have his work cut out for him with Diaz.  The righty’s average fastball velocity slipped from 95.8 miles per hour as a rookie to 93.6 with his three teams this year, though it plays up with some of the best extension in the game.  It’s been two years since Diaz missed bats with a high spin rate fastball and one of the best sliders featured by any reliever.  His control is worse than ever.  Diaz has been able to dodge longballs until this year, but doesn’t really keep the ball on the ground.

Young’s active Friday evening included the signings of Diaz, Alexander, and catcher Danny Jansen in rapid succession.  He previously swapped Marcus Semien for Brandon Nimmo for an OBP boost.  With limited payroll flexibility, Young figures to continue adding to the pitching staff.

Phillies To Sign Bryse Wilson

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The Phillies have a deal in place with right-hander Bryse Wilson, reports Jon Heyman of The New York Post. It’s unclear if it’s a major league or minor league pact for the Pro Edge Sports Management client. The Phils have multiple 40-man vacancies, so they won’t need to make a corresponding move even if this is a big league deal.

Wilson, 28 in December, has worked both as a starter and a reliever in his career. He has appeared in 163 games over the past eight big league seasons, 57 of those being starts, having suited up for Atlanta, Pittsburgh, Milwaukee and the White Sox. He has logged 461 innings over those eight seasons, allowing 4.82 earned runs per nine. His 16.6% strikeout rate is quite low but he has limited walks to a 7.5% clip.

He’s coming off a rough season. He signed a one-year, $1.05MM deal with the White Sox. He had just been cut loose by the Brewers and presumably hoped that signing with a rebuilding club would give him a path to carving out a nice role and showcasing his abilities. Instead, he posted a 6.65 ERA over 47 1/3 innings. He was passed through waivers unclaimed twice during the year. While in the minors, he posted better numbers. He tossed 48 2/3 Triple-A innings with a 4.25 ERA, 20.5% strikeout rate, 5.5% walk rate and 53.8% ground ball rate.

It’s possible the Phils want Wilson to serve in a swing role, logging multiple innings out of the bullpen with the occasional spot start. They signed Spencer Turnbull for a role like this in 2024 and Joe Ross in 2025.

As of this moment, the Phillies have a rotation that consists of Zack Wheeler, Cristopher Sánchez, Jesús Luzardo, Aaron Nola and Taijuan Walker. It’s possible that Wheeler begins 2026 on the injured list while he recovers from thoracic outlet syndrome surgery. While he’s out, prospect Andrew Painter could take a rotation job but Painter had a 5.40 ERA in Triple-A last year and still hasn’t made his major league debut.

It’s possible that the Phils get to the end of spring training and decide Painter needs more time in Triple-A. If Wheeler or anyone else needs some time on the injured list, then they would need someone else to step up. Wilson could potentially take a rotation spot and then bump into long relief when Painter forces his way in or Wheeler or whoever else gets healthy.

Wilson is out of options, meaning he can’t be sent to the minors easily. However, he has less than five years of big league service time. That means that, if he has a 40-man roster spot at the end of the year, the Phils could decide to retain him beyond 2026 via arbitration.

Photo courtesy of Patrick Gorski, Imagn Images

Blue Jays Acquire Chase Lee

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The Tigers have traded right-hander Chase Lee to the Blue Jays in exchange for minor league lefty Johan Simon, according to announcements from both clubs. This move is likely to open a 40-man spot for the Tigers to make their signing of Kyle Finnegan official. The Jays had a 40-man vacancy but Lee takes up the final spot. Ken Rosenthal and Will Sammon of The Athletic first reported that Lee was headed to the Jays while Mitch Bannon of The Athletic first mentioned Simon as the return.

Lee, 27, doesn’t throw especially hard but is able to deceive batters with his sidearm delivery. Originally a draft pick of the Rangers, he was traded to the Tigers as part of the 2024 deadline deal which sent Andrew Chafin the other way.

In 204 2/3 minor league innings, Lee has allowed 4.13 earned runs pere nine, with a fairly average 8% walk rate but a strong 30.9% strikeout rate. The Tigers called him up to make his major league debut in 2025. He gave them 37 1/3 innings with a 4.10 ERA. His four-seam fastball only averaged 89.2 miles per hour while he also threw a sinker, slider and changeup. He struck out 24.3% of opponents while limiting walks to a 6.1% clip.

For the Jays, Lee adds some extra bullpen depth. He still has options and can therefore be sent to Triple-A Buffalo and back throughout the year. Shi Davidi of Sportsnet recently wrote a piece about how the Jays appear to be prioritizing different arm angles, so it’s possible they are particularly attracted to Lee’s sidearming abilities. He has less than a year of service time and is therefore years away from qualifying for arbitration and even further from free agency. If he’s able to carve out a meaningful role in the big leagues, he could be a long-term piece for the Jays.

To get Lee, the Jays are giving up Simon, an international signing out of the Dominican Republic. In 2025, he began at Single-A and then climbed to High-A and Double-A. Across those three levels, he tossed 71 relief innings with a 3.42 ERA, 25.1% strikeout rate, 9.2% walk rate and a massive 64% ground ball rate.

For the Tigers, they had a 40-man roster crunch and needed to lose someone. With this deal, they’ve lost a bit of immediate depth but replaced Lee with a non-roster arm who is only slightly farther away from the majors.

Photo courtesy of Rick Osentoski, Imagn Images

Nationals, Josiah Gray Avoid Arbitration

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The Nationals announced that they have signed a one-year deal with right-hander Josiah Gray to avoid arbitration. Gray will make $1.35MM in 2026, reports Jeff Passan of ESPN. That’s the same salary Gray made in 2025 while recovering from elbow surgery.

Gray will celebrate his 28th birthday in a little over a week. Once a notable prospect with the Dodgers, he came over to the Nationals in the 2021 deadline deal which sent Max Scherzer and Trea Turner to Los Angeles. That deal hasn’t worked out especially well for the Nats so far. Gray and catcher Keibert Ruiz were hoped to be major building blocks in Washington but Ruiz has struggled to cement himself as a viable big league catcher. Gerardo Carrillo and Donovan Casey, the other two guys acquired in that deal, are no longer with the Nats.

As for Gray, he has had some decent but not overwhelming results for Washington. He made 28 starts for the Nats in 2022 but with an unimpressive 5.02 earned run average. He dropped his ERA to 3.91 in 2023 but with less impressive numbers under the hood. His 20.5% strikeout rate and 11.5% walk rate were both subpar. It seems a fairly high 80.4% strand rate helped him keep runs off the board. His 4.93 FIP and 5.08 SIERA were less bullish than his ERA.

He has mostly been on the shelf since then. He made just two starts in 2024 before landing on the injured list due to a flexor strain in his throwing elbow. He began a rehab assignment in June but then was shut down with renewed discomfort. He required Tommy John surgery in July. He finished that year on the IL and eclipsed three years of service time in the process. That qualified him for arbitration for the first time going into 2025. He and the Nats agreed to a $1.35MM salary to avoid arbitration.

Gray spent the year rehabbing. He made three brief rehab starts in September, getting stretched out enough to throw 2 2/3 innings in the final outing, but he didn’t get back to the big league club. The way the arb system works, player salaries almost never go down. For guys who miss an entire season, they usually see their salaries hold steady. MLBTR contributor Matt Swartz projected that would happen with Gray and it has.

Much has changed since Gray has been out. The rebuild effort stalled out to the point that president of baseball operations Mike Rizzo and manager Dave Martinez were both fired in July. They have since been replaced by Paul Toboni and Blake Butera respectively.

It’s unclear when the front office plans to return to contention but Gray is now down to two years of club control. His teammate MacKenzie Gore is also two years from free agency and has been in plenty of trade rumors. Infielder CJ Abrams has also been in trade rumors despite being controlled for three more seasons. If Gray has a strong first half in 2026, it’s possible he will also be in a lot of trade talk this summer as well.

Photo courtesy of Reggie Hildred, Imagn Images

Dodgers Sign Edwin Diaz

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December 12th: The Dodgers officially announced the signing today.

December 9th: For the second straight offseason, the Dodgers are signing the top relief arm on the market. They’ve reportedly agreed to a three-year, $69MM contract with now-former Mets closer Edwin Diaz. It’s a record-setting annual value for a reliever, breaking the $20.4MM record that Diaz himself already held. Diaz’s contract with the Dodgers contains $4.5MM in deferred salary annually. The net-present value, for luxury tax purposes, is roughly $21.1MM.

Diaz, a Wasserman client, returned to the open market this winter when he opted out of the final two seasons of the precedent-setting five-year, $102MM contract he signed with the Mets the last time he was a free agent. The right-hander had been guaranteed $38MM over the final two seasons of that contract, so by opting out and testing the market, he secured himself an additional one year and $31MM in guarantees. The Mets, according to Joel Sherman of the New York Post, offered Diaz a three-year, $66MM deal with “slight” deferrals.

The 31-year-old Diaz (32 in March) has spent the past seven years in Queens and, after a rocky first campaign, has turned in a collective 2.36 ERA (2.12 SIERA, 2.15 FIP) with a mammoth 40.8% strikeout rate and 8.9% walk rate. He’s piled up 144 saves in 332 appearances as a Met.

For the Dodgers, Diaz represents the most on-the-nose means of addressing a problem that nearly doomed them in the postseason: a lack of reliable bullpen help. Injuries to Evan Phillips, Tanner Scott, Brusdar Graterol and others left the Dodgers with a thin enough stock of trustworthy relievers that L.A. turned to Blake Snell, Tyler Glasnow and Yoshinobu Yamamoto (one day after he threw nearly 100 pitches) in pivotal high-leverage settings during their World Series run. That they even progressed to the World Series was largely attributable to historic performances from starters Yamamoto, Snell, Glasnow and Shohei Ohtani in the postseason’s earlier rounds.

The Dodgers have now signed the top reliever on the market in consecutive offseasons. They inked Tanner Scott to a four-year, $72MM pact last winter, though that deal contained $21MM worth of deferred money, thus knocking down the present value. Scott’s first year in L.A. didn’t go at all as hoped; he limped to a 4.74 ERA with improved command but lesser velocity and strikeout rates. After yielding 11 home runs in the 2022-24 seasons combined, Scott served up 11 round-trippers in his first season as a Dodger.

Certainly, they’ll hope for better results with Diaz, whose track record is lengthier and steadier than that of Scott. While he’s naturally had some year-to-year variance in his earned run averages — as is the case for any reliever — Diaz has been at 3.52 or better in each of the past five seasons, including three sub-2.00 campaigns. He’s punched out at least 34.6% of his opponents each season along the way, and since a shaky walk rate in 2021, he’s sat between 7.7% and 9.3% in that regard for four straight seasons.

That’s not to say there aren’t any red flags at all with regard to Diaz. His average fastball velocity has dipped in two consecutive seasons. While this past season’s average of 97.2 mph was still well above average, it’s also two miles per hour shy of Diaz’s 2022 peak. He also gave up considerably more hard contact. Diaz’s 88.5 mph average exit velocity and 39.7% hard-hit rate were both the second-highest marks of his career, trailing only his disastrous 2019 season (his first as a Met). Neither is a glaring issue, particularly considering Diaz maintained elite strikeout and swinging-strike rates (38% and 18%, respectively), but he’ll want to avoid allowing those negative trends to continue, however slight they may currently be.

Diaz will slot into the ninth inning, pushing Scott to a setup role alongside Alex Vesia, Blake Treinen, Anthony Banda, Brock Stewart and Graterol. Will Klein, Ben Casparius and Jack Dreyer all had solid or better seasons in 2025, but if everyone is healthy — far from a given — there’s only room for one of that trio in the final bullpen spot. Of course, injuries will inevitably create opportunities for many of the Dodgers’ overqualified depth arms, and each of Klein, Casparius, Dreyer and Edgardo Henriquez have minor league options remaining.

The Dodgers have paid the luxury tax in (more than) three consecutive seasons and are more than $60MM over the $244MM first-tier luxury threshold, meaning they’ll pay a 110% tax on the AAV on Diaz’s contract. However the annual salaries break down, he’ll cost them an additional $25.3MM in taxes alone. Assuming an evenly distributed $23MM per season, RosterResource, now projects next year’s Dodgers payroll at just over $359MM (although that does not account for substantial deferrals to Ohtani, Scott, Freddie Freeman, etc.).

The Mets would have been subject to those same penalties had they matched or topped this offer. Diaz reportedly entered the market seeking a five-year contract. When that didn’t materialize, he clearly pivoted to a record-setting, shorter-term arrangement. The extent of the deferrals in New York’s offer aren’t yet clear, but there’s no indication (yet, anyway) that the Dodgers’ offer includes any deferred money.

While New York couldn’t have known when signing Devin Williams to a three-year, $51MM pact that Diaz would also sign for three years and a total of $18MM more, the results from those two high-end relievers will now be carefully watched by Mets fans for the next three seasons. If Williams returns to form, it’ll look like a savvy pivot to get a comparable reliever at a lesser rate. If not, there will be plenty of second-guessing and criticism from the fan base.

Of course, owner Steve Cohen also clearly has the resources to have simply won the bidding on both relievers, but that’s ultimately not the route the front office chose. They’ll now look to other avenues as they seek to continue adding to the bullpen. The Mets were open to re-signing Diaz even after adding Williams, and while this deal clearly went past their comfort zone, there are other high-end arms still available — Robert Suarez, most notably. Choosing to let Diaz walk also frees up further resources for a potential re-signing of Pete Alonso or perhaps a run at another target of note.

The Mets bid farewell to Diaz, who rejected a $22.025MM qualifying offer, with only minimal compensation for his departure. Due to their status as luxury tax payors, they’ll receive a compensatory draft pick after the fourth round of next summer’s draft. The Dodgers, meanwhile, will surrender their second- and fifth-highest selections in next year’s draft. The league-allotted cap on their personal spending pool for international amateur free agents will also be reduced by $1MM.

Such considerations tend to be ancillary for the market’s top-spending clubs. Perennial luxury payors consider them the cost of doing business in the deepest waters of the free agent pool. The Dodgers have punted draft picks to sign Shohei Ohtani and Freddie Freeman (among others) in recent seasons. For them, the allure of adding a closer with nearly unrivaled dominance takes precedence as they try to assemble a roster capable of winning three consecutive World Series for the first time since the 1998-2000 Yankees.

The Athletic’s Will Sammon first reported the agreement. Sammon and colleague Ken Rosenthal were also the first to report the three-year term. ESPN’s Jeff Passan broke the total guarantee. Joel Sherman and Jon Heyman of the New York Post reported the Dodgers’ emerging interest in Diaz shortly before the agreement became public. Sherman reported on the deferrals.

Sean Reynolds To Sign With NPB’s Yokohama DeNA BayStars

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Former Padres right-hander Sean Reynolds is signing with the Yokohama DeNA BayStars of Japan’s Nippon Professional Baseball, reports Jon Heyman of the New York Post. It’ll be the first overseas stint for the Ballengee Group client.

Reynolds, 27, was non-tendered by the Padres last month. He pitched parts of two seasons with the Friars after coming over alongside first baseman/outfielder Garrett Cooper in the trade that sent lefty Ryan Weathers back to the Marlins. Reynolds was outstanding in a small sample with the ’24 Padres, yielding only one run while piling up 21 punchouts in 11 innings (42.9% strikeout rate). He was hit hard in 2025, however, surrendering 16 runs on 20 hits and 17 walks in 27 frames. The resulting 5.33 ERA was an eyesore, and Reynolds saw his massive 2024 strikeout rate quite literally halved (21.4%).

Health may have played some role in Reynolds’ 2025 struggles. He opened the year on the shelf due to a stress reaction in his right foot and was promptly tagged for five runs in only 1 2/3 innings upon returning from the injured list. Reynolds then settled in with a tidy 2.14 earned run average over his next 21 frames before being optioned to Triple-A El Paso. He pitched well for the Chihuahuas for the next couple months and was recalled in September — only to be tagged for six runs (with nine walks) in his final 4 1/3 big league innings.

Reynolds has been a pure reliever throughout his professional career and will presumably be used in that same role over in Japan. The righty sat 96 mph with his four-seamer this past season and coupled the pitch with a slider clocking in at an average of 86.1 mph. He won’t turn 28 until April, so with a strong year or two pitching in Asia, there’s potential for him to eventual return to North American ball.

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