The New York Mets and first baseman Pete Alonso have reached an agreement for a two-year contract valued at $54 million. This deal, which includes an opt-out clause following the 2025 season, concludes a negotiation period that lasted approximately three months. The announcement came on Wednesday night, confirming Alonso's return to Queens.

Mets owner Steve Cohen's spending spree this winter has been substantial, totaling over $1.03 billion, a figure that significantly surpasses the spending of other teams. Despite his considerable wealth, estimated at $21.3 billion, Cohen's negotiations with Alonso illustrated that even the most affluent owners have financial limits. Reports indicated that the Mets initially offered a contract of three years, amounting to $68-70 million. Although Alonso and his agent, Scott Boras, initially walked away from this proposal, Cohen maintained a firm stance on the offered terms. Ultimately, this agreement reflects a notable outcome for Cohen as he successfully retained a key player for the Mets.

While Alonso's potential earnings of an additional $54 million are significant, they are perceived as modest compared to the expectations he and Boras had for a larger payday in free agency. The Mets had previously proposed a seven-year extension worth $158 million in June 2023, which was declined. Given Alonso's impressive performance, leading the National League with 226 home runs since 2019, many view his current contract as falling short of his market potential. Nevertheless, Alonso expressed deep appreciation for being a New York Met, highlighting his connection to the city and its fans. With his re-signing, the Mets aim to build upon their successes from the previous season, including their run to the National League Championship Series in 2024, bolstered now by the addition of former teammate Juan Soto. As the team gears up for the 2025 season, questions arise regarding the impact of Alonso's return on both the roster and team dynamics.