MLB contract grade: Mets sign yet another former Yankee not named Juan Soto

With Juan Soto still making his massive free agency decision, the New York Mets aren't sitting and their hands and waiting to make moves. They're being aggressive, including signing former New York Yankees closer Clay Holmes in free agency.

Holmes is heading to Queens, according to Joel Sherman of the New York Post. He agreed to a three-year, $38 million deal on Friday night.

That doesn't mean the Mets are looking to move on from Edwin Diaz. Rather, NY plans to convert Holmes to a starter. Holmes will begin the season in the rotation alongside fellow new addition Frankie Montas. Coincidentally, Montas is also a former Yankee.

The question everyone wants to know now: Will another former Yankee join the Mets? Juan Soto, Grimace is looking at you.

MLB contract grade: Clay Holmes gets starter money from Mets

Considering the going rate for starting pitching, Holmes comes in at a relatively reasonable price. Former Met Luis Severino just signed with the A's for $22 million per year.

Of course, Holmes comes with obvious risk. He hasn't served as a starter since his rookie season in 2018. He's made his name in relief, particularly as the Yankees closer.

Holnes was an All-Star in two of the last three seasons with the Yankees. He posted 74 saves in that stretch. His highs were incredible high. At one point, he looked like the best closer in the league. In fact, he didn't give up an earned run in his first 20 appearances in 2024.

However, his fall-off was drastic. New York had to demote him at the start of September after blowing his 11th save of the campaign.

Holmes wasn't great in high-leverage situations, so New York is going to give him a chance to start games instead of finishing them. It worked for the Braves and Reynaldo Lopez. Maybe it'll work out for the Mets.

The Mets know the risk they're taking. Worst comes to worst, they move Holmes back into the bullpen to set up for Diaz. The odds that this contract works out are pretty decent. And there's a real chance it could look like a stroke of genius.

Contract grade: B