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On Friday evening, the Mets officially announced the signing of left-hander Sean Manaea to a three-year deal. The Boras Corporation client receives a $75MM guarantee. The deal reportedly contains $23.25MM in deferred money, which will be paid between 2035-44. New York had multiple open roster spots, so no further move was necessary.

Manaea, 33 in February, is now poised to sign with the Mets for the second consecutive offseason. In the first week of January earlier this year, the southpaw landed with New York on a two-year deal that guaranteed him $28MM and included an opt-out following the 2024 campaign. It was the second winter in a row that saw Manaea sign a two-year deal with an opt out after he signed with the Giants on a $25MM guarantee during the 2022-23 offseason.

That first contract in San Francisco was inked on the heels of a brutal 2022 season in San Diego that saw Manaea struggle to a 4.96 ERA (76 ERA+) with a 4.53 FIP in 158 innings of work. His time with the Giants went better than that; while his 4.44 ERA (94 ERA+) was still below average but he nonetheless entered the offseason boasting much stronger peripherals (3.91 FIP, 3.83 SIERA) and a solid run of starts down the stretch that September where he posted a 2.25 ERA and 3.21 FIP.

The Mets clearly believed that portended better days in Manaea’s future, and it certainly did. The lefty emerged as a quality mid-rotation option for New York in 2024 as he posted a 3.47 ERA (114 ERA+) with a 3.83 FIP in a career-high 181 2/3 innings of work across 32 starts. With a career year in the books ahead of his third consecutive trip to free agency, it seemed as though Manaea was looking for longer-term security. The Mets opted to tag the lefty with the Qualifying Offer at the outset of the winter, but it was hardly a surprise when Manaea rejected that one-year, $21.05MM offer and entered the open market anyway. After all, the lefty came into the winter ranked by MLBTR as the #10 free agent available on our annual Top 50 MLB Free Agents list and the #5 starter behind only Corbin Burnes, Blake Snell, Max Fried, and Jack Flaherty.

Early in the offseason, the fact that Manaea was encumbered by the QO led a number of clubs that likely would’ve had interest in a mid-rotation veteran like him to turn towards alternative options. The Angels, Dodgers, and Cubs turned in the early days of the offseason to unencumbered free agents like Yusei Kikuchi, Snell, and Matthew Boyd rather than delve into the markets of qualified free agents like Manaea, Nick Pivetta, or Luis Severino.

That’s not a consideration for the Mets, however, as reuniting with Manaea only costs the hypothetical draft pick they would’ve received had he signed elsewhere. That’s allowed Manaea to land a healthy guarantee despite a fairly small list of teams connected to him this winter: his three-year, $75MM deal exceeds the three-year, $60MM guarantee MLBTR predicted for him at the outset of the offseason but that’s hardly a surprise given that virtually every starting pitcher’s contract has exceeded expectations. Additionally, it’s of course possible that the deferred money in Manaea’s deal drops the net present value closer to MLBTR’s prediction.

For New York, a reunion with Manaea serves as a likely capstone on the club’s efforts to reconstruct its starting rotation after he, Severino, and Jose Quintana all hit the open market last month. The club added Frankie Montas and Clay Holmes to their rotation mix earlier this winter, but that duo offers little stability given Montas’s struggles in 2025 and the fact that Holmes last started a game in the majors back in 2018. Manaea provides that much-needed stability while slotting towards the front of a rotation that also includes talented right-hander Kodai Senga and young southpaw David Peterson.

With depth options like Paul Blackburn, Tylor Megill, and Griffin Canning all in the wings to help cover for potential injuries, it would hardly be a surprise if Manaea’s return wrapped up the team’s rotation additions for the winter. That doesn’t mean the club is done entirely, however. Even with a hefty 2025 payroll that RosterResource estimates will land just shy of $280MM as things stand, that still leaves $56MM of room to work with before the Mets match their 2024 figure. That should leave plenty of room for the Mets to sign a corner infield bat to pair with Mark Vientos, whether that ends up being a reunion with Pete Alonso or an alternative option such as Alex Bregman and perhaps bolster other areas of the roster such as the bullpen or the bench.

ESPN’s Jeff Passan first reported the Mets and Manaea had agreed to a three-year, $75MM deal. Will Sammon of the Athletic reported that the deal included $23.25MM in deferred money to be paid between 2035-44. Image courtesy of Imagn.