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New York Mets reportedly facing massive Pete Alonso contract extension cost in 2024

The New York Mets shopped All-Star first baseman Pete Alonso ahead of the MLB trade deadline after dealing Max Scherzer and Justin Verlander. Now, based on his estimated asking price for a new contract, New York is expected to evaluate all of its options this winter.

Alonso, who turns 29 years old in December, has been a core piece of the Mets’ lineup since making his MLB debut in 2019. From 2019-2023, the veteran first baseman has hit nearly 200 home runs (187) and delivered 480 RBI with three All-Star selections.

  • Pete Alonso contract: Arbitration-eligible in 2024, free agent in 2025

Related: New York Mets reportedly divided over Pete Alonso trade in 2024

However, the fan-favorite in New York is headed into the final year of his contract. He’s eligible for arbitration for the final time this season, projected to receive an arbitration salary in excess of $20 million next season. While it’s a significant price to pay for a first baseman, it’s nothing compared to what a multi-year deal will reportedly cost New York.

According to Jon Heyman of the New York Post, contract experts estimate the Mets will need to offer Alonso at least $200 million over five years. It greatly exceeds the initial cost projections, which were set at $175 million over five seasons.

Related: Pete Alonso trade cost was reportedly ‘extremely high’

  • Pete Alonso stats (2023): .225/.327/.525, .853 OPS, 41 home runs, 100 RBI, 131 wRC+

Five first baseman currently make $20-plus million per season, but Miguel Cabrera ($32 million) and Joey Votto ($25 million) are finishing out their deals this year. If Alonso makes $20-plus million next year, he would be the fourth-highest-paid first baseman in MLB.

While it’s a hefty price to pay for a player with a .225 batting average this season, Alonso’s numbers might justify it. He has hit 40-plus home runs in three of his five MLB seasons and has 100-plus RBI in three of the four seasons with 100 games played.

One Mets’ source told Heyman that they would be “extremely surprised” if owner Steve Cohen parted ways with Alonso. Based on the All-Star slugger’s support from the fan base and his teammates, it would be a surprise if New York trades him this winter.

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