The Los Angeles Dodgers got the best closer on the free agent market Tuesday, reaching a three-year, $69 million deal with former New York Mets reliever Edwin Diaz, sources told ESPN's Jeff Passan and Jorge Castillo on Tuesday.
The deal by the Dodgers, who were targeting bullpen help this winter, set an average annual value record for a relief pitcher.
Diaz, a three-time All-Star, logged a 1.63 ERA and converted 28 of 31 save chances for the Mets last season. With an elite combination of a high-velocity fastball and vicious slider, Diaz, 31, has posted high strikeout rates throughout his career. In 2025, Diaz struck out 98 in 66⅓ innings while walking just 14 batters.
The Dodgers went into the offseason with a clear need in the back end of the bullpen after their relievers combined for a 4.27 ERA and blew 27 saves, tied for the seventh most in the majors. The state of their bullpen was so bad heading into October that the Dodgers used their starting-pitching depth to supplement it, transitioning Roki Sasaki to closer while using the likes of Emmet Sheehan, Justin Wrobleski and, at times, Tyler Glasnow in relief roles.
Diaz now solidifies the ninth inning, with Tanner Scott, who the Dodgers hope will bounce back from a disastrous first season in L.A., lined up as his setup man. The likes of Alex Vesia, Blake Treinen, Anthony Banda and Brusdar Graterol, the latter of whom is coming back from shoulder surgery, headline what the organization believes to be a deep crop of relievers.
"Getting a high-leverage reliever is never a bad thing," manager Dave Roberts told reporters Monday at the MLB winter meetings in Orlando, Florida.
Now that their biggest need has been addressed, the Dodgers are expected to target an outfielder, likely via trade.
Diaz opted out of the two-year, $38 million guarantee that remained on the five-year deal he signed to remain with the Mets in 2022. The contract was considered a rare five-year commitment to a relief pitcher, but it ended after three seasons once he decided to test the open market.
Diaz was tendered a $22.025 million qualifying offer by the Mets, which he declined by the Nov. 18 deadline. Because he signed with a new team, New York will receive a compensatory draft pick after the fourth round.
The Mets on Dec. 1 signed Devin Williams to a three-year, $51 million deal as an insurance policy should Diaz go elsewhere.
Diaz's time with the Mets was marked by wild year-to-year swings. He posted an ERA under 2.00 three times but in other years was at 3.45 or worse, blowing six saves or more in each of those three campaigns.
Diaz missed the 2023 season altogether after suffering a serious knee injury while celebrating a save in that year's World Baseball Classic. The Mets acquired him in 2018 as part of a seven-player trade with the Seattle Mariners.
His 253 career saves since entering the majors in 2016 are tied with Raisel Iglesias for second -- behind Kenley Jansen (334) during that span, according to ESPN Research.
ESPN's Bradford Doolittle and Alden Gonzalez contributed to this report.