New York Mets insider details terms of a new Pete Alonso contract that both sides could live with

A New York Mets insider recently detailed the likely terms of a new Pete Alonso contract that would satisfy both sides.

This has been an eventful last couple of months for the Mets. Heading into the offseason, the front office had a lengthy to-do list that included filling three spots in the starting rotation. While they were able to address that concern, they also signed New York Yankees superstar Juan Soto to the largest contract in sports history.

The only major issue left on their agenda is figuring out what to do with Pete Alonso. The homegrown All-Star is a free agent but team president David Stearns is wary of giving the 30-year-old the long-term deal he is seeking. That is why it seemed like he would be taking his power-hitting talents elsewhere next season.

But the free agent market for his services is far less competitive than he and his agent, Scott Boras, expected. It has opened the door to a realistic return to New York. However, a recent report last week suggested the two sides are still far apart on the terms of a new deal.

On Tuesday, New York Post MLB insider Joel Sherman detailed what it would take to make a reunion possible where both sides are not happy, but satisfied.

Pete Alonso stats (2024): .240 AVG, .329 OBP, .459 SLG, .788 OBP, 34 HR, 88 RBI, 91 R

Could the New York Mets give Pete Alonso a record annual rate in a new contract?

“My gut continues to say the most likely solution is a reunion with Alonso,” Sherman wrote. “If the Mets never relinquish going long in years do they offer the highest per-annual deal ever for a first baseman? The record right now is the $27 million annually in a heavily deferred deal for Freddie Freeman. Though Toronto’s Vladimir Guerrero is nearly certain to exceed that on a one-year deal via arbitration.

“A four-year deal would take Alonso through his age-33 season. Which is what the Mets were willing to do with [Teoscar] Hernandez. Does between $28 million to $30 million with the ability for Alonso to opt-out after, say, two years get it done? Does adding a vesting fifth-year option help?”

Pete Alonso contract (Projection): $120 million

A four-year deal worth $30 million would mean a $120 million investment from the New York Mets. It is a higher amount per season than the team would like to pay. However, it doesn’t have them on the hook for seasons when he is sure to be far less productive.

For Alonso, he doesn’t get the long-term financial stability he would like. But he still gets paid well above what he should. And early opt-outs — something Scott Boras has done with other clients — could appeal to the four-time All-Star.