The New York Mets still owe Bobby Bonilla a paycheck of $1,193,248.20 every July 1 through 2035. And now, they’ll be paying closer Edwin Diaz annually until 2042.
On Wednesday, the Mets announced a five-year, $102 million contract for Diaz, which is the largest for a reliever in MLB history. But $26.5 million of that will come via deferred payments.
Edwin Diaz going the Bobby Bonilla route with deferred payments till 2042. Here’s the breakdown 👇🏽 pic.twitter.com/jZjEJkQhvk
— Thee Perl-Offs (@TheePerlOffs) November 12, 2022
The deal also includes a no-trade clause and a sixth-year option which, if picked up, increases the total to $118.25 million over six seasons. The $12 million signing bonus will be spread out over six seasons, through 2028 if all player options are picked up.
Should Diaz pick up his options, the Mets also have a 2028 option. SNY reports that “if his player options are exercised, the Mets have a $17.25 million option with a $1 million buyout. However, New York will defer $5.5 million annually from 2023-25 and $5 million from 2026 and 2027. The payments will be due on July 1 in future years.”
There are a lot of moving pieces.
In addition to those massive numbers, Diaz’ deal also includes incentives. He can earn an extra $100,000 if he’s named World Series MVP or Rivera/Hoffman Reliever of the Year. All-Star, Gold Glove and Cy Young Award incentives are also built into the deal.
With Diaz and Bonilla combined, July 1 is going to be an expensive day for the Mets for years to come.
