Richest relief pitcher contracts ever given out in MLB history

'Relief' is quite the word to use when talking about some of MLB’s most important players. The role of the relief pitcher has increased dramatically in the last number of years given some have become openers and bulk pitchers. Think back to playoff games from recent years. The games' biggest moments occurred with a relief pitcher on the mound more often than not. With increased responsibility comes an increase in pay. Here is a look at some of the richest and most notable reliever contracts in MLB history.   

Let’s treat this like a baseball game and get into starting pitchers before we talk about relievers. The term 'starting pitcher' is more accurate than ever before. In the current age of modern baseball, the starter starts the game and rarely finishes what he started. MLB starting pitchers averaged only 5.1 IP in 2023. News flash, a baseball game is usually nine innings long. That means a bullpen on average pitched 4.2 innings, which is only two-thirds of an inning less than the starting pitchers.

Now that we have talked about starters, let’s go to the bullpen. When relievers average almost as many outs as the starters, they deserve to get paid. And guess what? They have. 

A brief history of relief pitcher contracts

An important name to bring up in this conversation is Billy Wagner, who will be entering his ninth year on the Hall of Fame ballot next month. Deserving of a plaque in Cooperstown, Wagner was paid like a Hall of Famer after the 2005 season by the New York Mets. The Mets gave Wagner a four-year $43 million deal, good for $10.75 million per season. For the mid-2000s, $10.75 million per season is a pretty sweet deal. 

Wagner lived up to his contract in 2006 by saving 40 games for the Amazins while pitching to a 2.24 ERA in 70 games. The lefty’s dominance on the mound helped lead New York to their first division title in 18 years. A true trendsetter at the position, Wagner helped pave the way for future bullpen arms to bank a big check.

The reliever contract surge truly began in the mid-2010s and relief pitchers earning big bucks has become an annual offseason occurrence. A notable time where the reliever market boomed was the 2016 offseason. Headlined by Aroldis Chapman returning to the New York Yankees on a five-year $86 million deal, closers Kenley Jansen and Mark Melancon also bagged the big bucks.

Jansen secured five years and $80 million from the Los Angeles Dodgers while Melancon maneuvered his way to a four-year $62 million deal with the San Francisco Giants.  If these contracts seem large, they are larger when you look at 2016 MLB free agency as a whole.

According to ESPN, Chapman’s contract with the Yankees was not only the largest for a reliever as of 2017, but it was the second-largest contract of the entire offseason. Only Yoenis Cespedes’ four-year $110M deal with the Mets topped Chapman’s earnings. Coming in fourth on MLB’s free-agent contract list was Jansen’s deal while Melancon’s signing came in seventh. That is three relievers in MLB’s top-ten largest contracts of the 2016 offseason. In total, the threesome of Chapman, Jansen, and Melancon earned 14 years of work for a whopping combined dollar amount of $228 million.  Wow. If you like big numbers, we are only just getting started.

In the current day in age, relievers are inking contracts that deliver big numbers whether you are a closer or middle reliever. Not even halfway through the 2023 offseason, 11 relievers already are slated to make $10 million or more in 2024 according to spotrac -- one of which we will talk about below after he locked up a big contract last offseason. 

That reliever who scored a multi-year contract with big bucks attached was Houston Astros right-hander Rafael Montero. Montero, who re-signed with the Astros on a three-year $34.5M deal, is a prime example of a relief pitcher who cashed in thanks to pitching lights out in his contract year.

Set to be a free agent after the 2022 season, Montero put together a career year in ‘22 with a 2.37 ERA and a 5-2 record in 71 games.  Montero followed his productive regular season with an even better postseason as he pitched to a 1.93 ERA in 10 games. The Astros went 9-1 in 2022 postseason games that Montero appeared in to boot.

Houston’s setup man allowed only two runs in 9.1 IP in the postseason while also being one of four Astros pitchers to throw a combined no-hitter in Game 4 of the World Series against the Philadelphia Phillies.  The Astros’ combined no-no was only the second no-hitter in World Series history alongside Don Larsen’s perfect game in Game 5 of the 1956 Fall Classic.

Just seven days after Montero helped the Astros win the 2022 World Series, Houston’s then-general manager James Click gave Montero his three-year mega deal to stay in the Space City. Why? Not only because Montero was lights out, but because Montero was the man getting the big outs late in postseason games while you were on the edge of your seat biting your nails.  If a reliever has the ability to make fans breathe easy instead of heavy, their next contract with reflect that extremely desired ability.

Richest relief pitcher contracts ever given out in MLB history

This above concept brings us to our closer of the article: New York Mets closer Edwin Díaz. Not only did Díaz re-sign with the Mets after 2022, he signed the richest free-agent deal ever by a relief pitcher at five years and $102 million. Just like Montero, Díaz was given a big check after dazzling on the mound in his contract year in 2022. The Mets’ closer kicked off the season by completing the franchise’s second no-hitter: a five-pitcher combined no-hitter against the Phillies on April 29.

Díaz would go on to pitch to a microscopic 1.31 ERA in 2022 while saving 32 games in 35 opportunities. A key contributor in the Mets’ first playoff berth since 2016, Díaz’s entrances from the bullpen became an event anticipated by fans at Citi Field. “Narco” by Blasterjaxx and Timmy Trumpet has become Díaz’s signature walk-in song to pump the crowd up for high-leverage moments in the game.

Díaz’s entrance became so popular that the Mets even invited Timmy Trumpet to Citi Field on Aug. 31, 2022 to perform the song live when the Mets closer entered the game against the Dodgers. As you might expect, Díaz answered the bell and saved the Mets’ 2-1 win by retiring Trea Turner, Freddie Freeman, and Will Smith one-two-three.

Given his dominance on the mound and popularity amongst Mets fans, owner Steve Cohen pulled out his checkbook last offseason and deservedly gave his closer the richest relief-pitcher contract in MLB history.    

The one thing you have to ask yourself after looking at Edwin Díaz’s contract is, when will a reliver top Díaz’s record-setting number? It is only a matter of time. Demand for effective relief pitching is increasing by the season and teams are handing out contracts like they mean it. So, as we close this article, who do you think will be the next pitcher to earn the richest reliever contract in the history of Major League Baseball?