Edwin Díaz is coming off of an absolutely dominant season for the Mets, and the closer cashed in as a result. Earlier this week, he agreed to a five-year, $102 million contract with the team, a record for a relief pitcher.
That is big money for a closer who had been very up and down for New York before 2022, and according to the Associated Press, it features $26.5 million in deferred payments to be made from 2033 through 2042. Deferred payments are not uncommon in baseball, though the Mets are involved in the most infamous example with the team’s former outfielder Bobby Bonilla.
The Mets pay Bonilla nearly $1.2 million on July 1 every year through 2035, as part of an agreement with the former outfielder from when he was released after the 1999 season. The payments were deferred until 2011, when many around baseball began celebrating “Bobby Bonilla Day” at the start of each July. Part of one copy of the famous contract was sold at auction this year for $180,000.
Bonilla is far from the only deferred contract in MLB history. Ken Griffey Jr. and Manny Ramirez are still receiving payments from the Reds and Red Sox, respectively, and current Mets pitcher Max Scherzer still makes deferred money from his time with the Nationals.
Because of the Mets involvement, though, the Bobby Bonilla references are all over social media following the report of Díaz’s contract details.
Díaz was absolutely lights out in 2022, with 32 saves, allowing just 34 hits and nine earned runs in 62 innings for a career-best 1.31 ERA. He struck out 118 of the 235 batters he faced, good for 17.1 strikeouts per nine innings. As one of the team’s only reliable bullpen arms, he helped lead the team to a 101–61 record and playoff appearance.
If the Mets can build off that success in 2023, 10 years of payments down the road and some jokes on social media will be well worth it.
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