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Mets’ Management Unveils Status Update on Pete Alonso’s Contract Negotiations

By Harrington Maury Share with new partner:   Share
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Despite making his third All-Star Game appearance in 2023, first baseman Pete Alonso may not receive a new contract from New York Mets owner Steve Cohen.

Pete Alonso’s Contract: Financial Challenges for the Mets

Mets'-Management-Unveils-Status-Update-on-Pete-Alonso's-Contract-Negotiations
JUPITER, FLORIDA – MARCH 08: Pete Alonso #20 of the New York Mets looks on prior to a spring training game against the Miami Marlins at Roger Dean Stadium on March 08, 2024 in Jupiter, Florida.

Alonso, who is 29 years old, is currently under contract for a one-year deal worth $20.5 million. He has the option to enter free agency during the offseason from his current contract.

The Mets already have the second-highest payroll in baseball, which is $283.8 million, which is higher than the expected threshold for the luxury tax, which is $237 million. 

This presents a difficulty for the Mets because of their ongoing financial restrictions. In 2023, the Mets made a record-breaking luxury tax payment of $101 million. 

Risks of Not Extending Alonso: Potential Free Agent Appeal

However, the decision to withhold an extension for Alonso carries inherent risks, given his potential appeal to multiple teams should he become a free agent. 

Across five seasons with the Mets, Alonso, the 2019 National League Rookie of the Year, has amassed impressive statistics, including a .251 batting average, 192 home runs, 498 RBIs, and a .870 OPS.

Last autumn, Alonso enlisted Scott Boras as his agent, suggesting a preference for maximizing value through free agency rights.

Cohen maintains a cordial relationship with Boras and appears unperturbed by the prospect of Alonso’s departure. 

He cited successful contract negotiations with pitcher Edwin Diaz (five years, $102 million) and outfielder Brandon Nimmo (eight years, $162 million) in 2022 as evidence of the Mets’ capacity to navigate such situations.

Nonetheless, retaining Alonso would be advisable for the Mets, as he represents a bright spot in a team that has struggled to achieve postseason success throughout his tenure, with only one postseason appearance thus far.

Harrington Maury

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