The New York Mets saw this moment coming. When they locked up Edwin Diaz to a record-setting five-year, $102 million deal before the 2023 season, they knew the contract’s opt-out clause after the third year could eventually come into play. And now, it has. The star closer officially exercised that option this week, reentering the open market with plenty of leverage — and plenty of suitors.
Mets Move Quickly with Qualifying Offer
The Mets didn’t waste time reacting. On Thursday, they extended a qualifying offer to Diaz, a one-year proposal worth $22.025 million. It’s a standard move, one that keeps the door open while also securing compensation if he signs elsewhere.
In theory, Diaz could accept and return for 2026 on that deal, but that’s not how these things usually go. Players of his caliber — with elite numbers and consistent dominance — rarely choose the one-year route.
Diaz isn’t alone in this process. According to MLB insider Joel Sherman, 13 players around the league received qualifying offers on Thursday. For the Mets, Diaz was the only one. Pete Alonso, who got his qualifying offer last offseason, isn’t eligible this time around. That makes Diaz’s situation the main storyline for New York’s front office as they begin what could be a pivotal winter.
Why Diaz Holds the Cards
Diaz has every reason to explore the market. He just wrapped up another stellar campaign, posting a 1.63 ERA with 98 strikeouts while anchoring the Mets’ bullpen. After leaving behind that freak WBC injury in 2023, he’s reminded everyone why he’s among the best closers in the sport. Teams across baseball crave reliability in the ninth inning, and Diaz brings that with both power and flair.
It’s not hard to imagine contenders like the Dodgers, Rangers, or even the Yankees checking in, if only to gauge the market. Multi-year offers will come, likely in the same annual range as the qualifying offer — maybe more. The question becomes whether the Mets are willing to match the length and structure of those deals to keep their man.
Mets’ Calculated Confidence
For New York, this isn’t panic time. They knew the opt-out was part of the deal when they agreed to it. They also know that Diaz values his relationship with the organization and the city. His comfort level in Queens, his connection with the fans, and his success in the uniform all give the Mets a fair shot to bring him back — even if it costs a few extra years or dollars.
The Mets’ front office, under David Stearns, is operating from a position of quiet confidence. They’ll engage with Diaz’s camp and make their pitch, but they also understand the market dictates these things. If someone else blows him away with a massive long-term offer, they’ll get a compensatory draft pick for their troubles — and move on knowing they handled the process right.
What Comes Next
Diaz and the other players who received qualifying offers have until November 18 to make their decisions. By all accounts, he’ll decline and test free agency, at least initially. From there, the Mets will have to decide how far they’re willing to go to keep one of the best closers in franchise history.
In the end, the Mets want Edwin Diaz back — that much is clear. But they also have to balance logic with loyalty. For a team trying to retool and contend again soon, losing Diaz would hurt. Bringing him back, though, could be the kind of stabilizing move that helps define their next era. The real question now: who’s willing to pay the price to keep the trumpets blaring at Citi Field?