The Los Angeles Dodgers have finally inked a deal with former Mets closer Edwin Diaz on a three-year contract worth $69 million, shattering a record for a relief pitcher's salary per year.

Diaz adds another big name in what has been a struggling Dodgers bullpen during their postseason outings.

Structure of an Employment Contract and Incentive

New York Mets v Texas Rangers
ARLINGTON, TEXAS - Edwin Díaz (#39) celebrates with Jose Iglesias (#11) of the New York Mets after defeating the Texas Rangers at Globe Life Field on June 18, 2024 in Arlington, Texas. Sam Hodde/Getty Images

Diaz's deal has a conditional club option in 2029 with a potential base salary of $6.5 million and performance bonuses up to $1.75 million for completed games, according to The New York Post's Jon Heyman.

The conditions for this deal have been reported to include games spent on the Injured List. The contract will give the Los Angeles Dodgers flexibility while still using Diaz effectively in the bullpen.

According to Will Sammon of The Athletic, the 31-year-old Puerto Rican pitcher got a record-breaking AAV of $23 million despite having a net-present value of approximately $21.1 million after receiving deferred payments of $4.5 million a year.

Why the Dodgers Wanted Diaz

Coming off a postseason that revealed the team's inability to find effective relievers, the Dodgers sought the acquisition of Diaz to stabilize the late-game performances.

Injuries sustained by relievers Phillips, Scott, and Brusdar Graterol pushed the Dodgers into using starters for the most critical moments of the game and endangering the chances for the World Series title.

His impressive skills include the following:

  • 2.36 Era
  • Strikeout rate of 40.8%
  • Saves of 144 and 332 games played for the Mets

Comparing Diaz to the Other Pen Acquisitions

Last offseason, the Dodgers signed Tanner Scott on a four-year contract worth $72 million, although he had an ERA of 4.74. Diaz, on the other hand, has an impressive record of consistency and dominance with an ERA below 3.52 in five of the last six years.

Despite his decrease in fastball speed to 97.2 mph and an uptick in hard-contact rates, the incredible K and swinging-strike rates work in his favor.

Effect on Dodgers' Bullpen Corps

The ninth inning will feature Diaz, which will move Scott into a setup man role alongside Alex Vesia, Blake Treinen, Anthony Banda, Brock Stewart, and Graterol. The bullpen will further be strengthened with Will Klein, Ben Casparius, and Jack Dreyer, all of whom have minor league options in case injured players are not enough for the Dodgers.

The Dodgers are still $60 million over the luxury tax threshold; therefore, their addition of Diaz results in about a $25.3 million tax burden. Draft choices will be forfeited; however, these are common consequences of teams operating above the luxury threshold in their pursuit of championship players.

The Dodgers didn't succeed in getting Robert Suarez after he signed with the Atlanta Braves, but obtaining Diaz is still a win for an upcoming three-peat team.