The New York Yankees are falling behind in MLB’s offseason arms race. The team needs a new closer after Devin Williams signed with the New York Mets, and with Luke Weaver’s free agency still up in the air.
The best reliever on the market is now off the board, as it was announced on Tuesday that the Los Angeles Dodgers are signing Edwin Diaz to a three-year deal worth $69 million guaranteed, which is the largest contract handed out to a reliever in MLB history. The Yankees were thought to be in the running for Diaz after losing Williams to the Mets, but the Dodgers must have outbid them for the three-time All-Star closer. The AAV is $23 million on the deal.
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Edwin Diaz’s Signing is Bad News for the Yankees
This signing is bad news for the Yankees, who will now have to scramble to find a solution for the back end of the bullpen. Luke Weaver seems like the most logical option at this point, because the top two relievers in Diaz and Williams are both now off the board.
Robert Suarez is now the best option, and the Yankees should absolutely consider opening up the checkbook for him. They almost have no choice, because the Yankees’ AL East competitors are making splash moves this offseason, and it’s time for New York to join the party.
GettyEdwin DÃaz is the consensus top closer in the free agent market.
Diaz is coming off a stellar 2025 campaign where he recorded 28 saves and posted a 1.63 ERA over 62 games pitched. It’s no doubt a great signing for the Dodgers, which is sure to draw far cries from MLB fans across America for Los Angeles’s spending habits.
In nine seasons, Edwin Diaz has six seasons recording 25+ saves, including 57 with the Mariners back in 2018.
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Mets Also Lose Out on Signing Edwin Diaz
The Mets are also losers in this equation. Even though they already signed Devin Williams to a $51 million deal earlier this month, the reports suggested they would still try to make a move for Edwin Diaz.
However, the rich get richer in Los Angeles, and that now means the Mets will have to counter with a splash signing of their own in the coming days if they want to keep pace with Los Angeles.
Diaz had 144 saves in 328.1 innings with the Mets, and previously held the record of the largest contract handed out to a reliever when he signed with the Mets last.
According to BaseballReference.com, Diaz is projected to post a 3.29 ERA with 15 saves and 78 strikeouts in 2026.
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