
The 2025 offseason is officially upon us now that the 2025 World Series is firmly in the rear view. This means the hot stove will be heating up and it won’t be long until it’s at a full-blown boil with an interesting cast of free agents fueling it this winter.
Among those is a new name to the free-agent field in closer extraordinaire Edwin Díaz. Díaz opted out of his historical five-year, $102 million contract he signed with the New York Mets ahead of the 2023 season.
He set a major-league record for the richest contract ever signed by a reliever before he hit the open market last time around. Now a free agent for the first time in his career, he will be the most coveted reliever this offseason.
After an unfortunate injury in the 2023 World Baseball Classic made Díaz miss the entire season due to recovery from knee surgery, he returned in 2024 and had a “down” year.
It wasn’t the other-worldly 1.31 ERA season he had in 2022 that earned him his record-breaking deal, but he still recorded 20 saves while sporting a serviceable 3.52 ERA, 3.02 FIP, and 1.04 WHIP.
However, in 2025, Díaz bounced-back and left nothing up to interpretation, as he arguably returned to his career-best version of himself from three years ago.
Among qualified relievers this year his 1.63 ERA trailed only Boston’s Aroldis Chapman, and his 2.28 FIP, 0.87 WHIP, and .162 BAA all ranked among the top 10 bullpen arms in baseball. Then, there’s the blistering 38.0% strikeout rate. Only the great Mason Miller can say he struck out hitters at a higher clip than Díaz this past year.
Still in his early 30s, Díaz and his well-rounded game have a unique opportunity to control the reliever market once again and there will surely be no shortage of suitors lining up to secure his services for 2026. Here are a few of his top suitors.
As the saying goes, if it’s not broke, don’t fix it. That’s precisely the argument for why the Mets should do everything in their power to ensure Díaz commits his future to Queens.
And if we’re looking at fit, the Mets certainly have a need for Díaz, as the talent behind him drops off significantly.
According to FanGraphs’ RosterResource, the Mets’ current projected closer is A.J. Minter, who looked solid before he hit the season-ending IL, but the fact is he only managed to throw 11.0 innings in 2025.
Then, there’s Brooks Raley, who was good in the 25.2 innings he pitched with a sub-2.50 ERA, but it’s a smaller sample size and he’s already 37 years old.
Huascar Brazobán threw 63.0 solid innings, but still showed some issues with limiting baserunners with a 1.24 WHIP and 10.3% walk rate. Then there’s a former closer in Adbert Alzolay, who has past success in high-leverage situations but hasn’t pitched since May of 2024 — and it was really a season to forget for him that year.
This seems to be the reason why New York only sported a middle-of-the-road bullpen, even with Díaz and his lights-out campaign. They sat 15th in ERA, 15th in WHIP, T-18th in BAA, and 13th in strikeout rate.
So imagine what they’d be like without Díaz. This is why the Mets simply cannot afford to lose one of the league’s top relievers if they have any desire of reaching the postseason again in 2026.
And it’s not as if Steve Cohen doesn’t have the money to pay him around $20 million a year.
The Cubs have long been in need for a lights-out closer. This time around, Jed Hoyer and Co. can’t afford to make the same mistake as last year and settle for an outcast like Ryan Pressly and hope for a bounce back.
They have a good, young name in Daniel Palencia to help form the backend of this ‘pen, but after trading Andrew Kittredge back to the Orioles, Brad Keller hitting the open market, and names like Porter Hodge and Ben Brown failing to live up to potential in 2025, the Cubs need to prioritize their bullpen.
Díaz could immediately come in and grab the closer role by the horns, giving them a great one-two punch to dream on between him and Palencia.
This would immediately take them from being a team on the fringe of being one of league’s better bullpens (fourth in bullpen WHIP, but 11th in ERA, 14th in BAA and 16th in FIP) to being one that could be feared in an up-and-coming NL Central division.
Because in all likelihood, now that they’ve reached the postseason again, the money wouldn’t stop at Díaz.
It wouldn’t be an offseason without linking the San Francisco Giants to a top free agent, now would it?
But after whiffing on countless top-end names, they finally got their guy in Willy Adames last winter, which could very well set the tone for Buster Posey and the front office to continue building something special.
At first glance the bullpen wasn’t a huge issue for the Giants in 2025, as they sat fourth in ERA, sixth in FIP, tied for seventh in WHIP and third in walk rate.
However, what they lacked was an undeniably great closer.
Ryan Walker was supposed to be that guy after his 1.91 ERA, 0.85 WHIP and 11.14 K/9 breakout campaign in 2024. However, 2025 was not kind to him in the slightest, posting a 4.11 ERA, 1.27 WHIP and 8.80 K/9.
Díaz immediately comes in and gives them a stable superstar. Not only would he solve their ninth-inning issues, but he also solves the one thing their bullpen really struggled with last year: striking hitters out. As a whole, the Giants’ bullpen held the sixth-lowest punchout rate in baseball in 2025.
Every list like this needs a fun and more unique fit, and in this case it’s the Rangers.
After missing the postseason in back-to-back seasons following a World Series title in ’23, they’ll once again be looking for a way to get back to October and capitalize on the All-Star power they’ve accumulated on this roster.
Like San Francisco, the bullpen wasn’t a real weak point for Texas this past season. They ranked fifth in ERA, tied for second in WHIP, seventh in BAA and tied for fifth in walk rate.
However, they could stand to add a certified closer to compliment their band of promising bullpen arms that includes Robert Garcia, Jacob Webb and Cole Winn. Plus, several of their veteran arms like Hoby Milner, Shawn Armstrong, Danny Coulombe, and Chris Martin are all free agents, leaving plenty of work to be done to reload this unit.
The big question surrounding a Díaz fit will be whether or not the Rangers have the budget this offseason to make big splashes. According to some reports, GM Chris Young has indicated there could be “financial uncertainty” this winter, which could make a big money offer for Díaz somewhat far-fetched.
However, strictly from a baseball standpoint, the fit is definitely there and would give new manager Skip Schumaker a real stable weapon to deploy to close games out in his return to the clubhouse.
I saved the best, and for many the most frustrating, for last in the Dodgers.
If Los Angeles has proven anything in the past few offseasons, it’s that if there’s a top name on the open market, they’re not afraid to puff out their feathers and assert their financial dominance in the open market.
Last season, they controlled the reliever market after landing the top fish in Tanner Scott along with Kirby Yates, who was coming off a sub-2.00 ERA All-Star season, and getting Blake Treinen to return after a sensational postseason run.
But if the Dodgers had a weakness this year it was their bullpen, as they were mediocre at best. They ranked T-20th in bullpen ERA, 17th in FIP, T-20th in WHIP, T-18th in BAA ,and 20th in walk rate.
And those names that highlighted their offseason didn’t exactly set the world ablaze. Scott was not nearly the sub-2.00 ERA arm he was in ’24, sporting only a 4.74 ERA arm, and Yates and Treinen both held ERAs above 5.00.
Díaz could immediately come in and take the pressure off of names like Scott to have to be unequivocally lights out and Alex Vesia to have to be the impromptu go-to arm for a third year in a row.
It also allows for Treinen to fill a lesser role as a he ages and makes it easier to palate injuries, which they had so many of last year.
Some may argue that this would be another excessive signing for the Dodgers, but there’s arguably more reason for this signing than other splashes they’ve made in the past.
And at the end of the day, if they have the money to add name like Díaz, why wouldn’t they make they make a move like this? There’s no arguing that it would make this World Series team that much better and put them in a better place to three-peat.
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