The Los Angeles Dodgers made a surprise signing on Tuesday as they reportedly came to terms with Edwin Díaz on a three-year, $69 million contract that includes deferrals.
Publicly, the Dodgers downplayed the notion of making a notable signing in free agency, and multiple reports about their offseason plans also pointed to a quiet winter. But after missing out on their other relief targets, the Dodgers decided to go all-in by signing one of the best closers in baseball.
The Dodgers also faced competition from the New York Mets, who wished to retain their All-Star reliever. According to Tim Britton and Will Sammon of The Athletic, the Mets made a comparable offer to Díaz and were willing to increase it before he chose to sign with the Dodgers:
According to league sources, the Mets had offered the 31-year-old Díaz a three-year, $66 million deal with modest deferrals. New York expressed a willingness to go higher before Díaz decided to sign with Los Angeles.
Díaz fell short of getting the projected four- or five-year deal many believed he would get, but his $23 million average annual value (AAV) is still a record for a relief pitcher. It surpasses the $20.4 million mark he set in his last contract with the Mets.
Deferrals in the salary are going to bring that AAV down for luxury tax purposes, but that number should still set the record.
Díaz has established himself as arguably the best reliever in baseball, and he’s coming off a season in which he threw 66.1 innings with a 1.63 ERA while striking out 38% of hitters and walking 8.1%.
The right-hander has had two seasons of pitching more than 60 innings with a strikeout rate above 44%, including a remarkable performance in 2022 where he struck out 50.2% of hitters in 62 innings while posting a 1.31 ERA. During that season, he struck out 118 of the 235 batters he faced.
Over his career, Díaz has posted a 2.82 ERA across 519.1 innings while striking out just shy of 40% of hitters and walking less than 9%. He’s added 253 saves to 41 blown saves during his nine seasons between the Seattle Mariners and New York Mets.
Edwin Díaz praised for Dodgers
This past season, the Dodgers acquired Alexis Díaz from the Cincinnati Reds, a former All-Star closer whose career was on a downward spiral.
After the trade, Edwin Díaz, the brother of Alexis, shared that he believed the Dodgers had the tools and knowledge necessary to help Alexis address his issues and get him back on track.
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