Pete Alonso contract extension: What could Mets deal look like?

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Pete Alonso contract extension Mets
(AP Photo/Frank Franklin II)

The general consensus following the Mets’ contract extension of Jeff McNeil is to do the same for Pete Alonso — in one of the more obvious thought processes of the decade. 

The 28-year-old slugging first baseman is in his prime as one of the preeminent power hitters in all of baseball and one of the faces of the Steve Cohen-era Mets but is under team control through the 2024 season. 


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Securing him for the long haul in Queens should be a priority through the last few weeks of winter and throughout spring training where he’ll get the big-time payday that is logically coming his way.

What will that contract look like, though? The current market certainly appears to have given a clear picture. 

Where does Pete Alonso rank amongst MLB 1st basemen?

To put it simply, this is one of the very best offensive first basemen in the league. Since his MLB debut in 2019, he ranks in the top four in most major statistical categories for batters that have played at least 75% of their games at the position.

MLB 1st basemen offensive ranks since 2019

Rank OPS Hits Extra Base Hits Home Runs RBI
1 Freddie Freeman (.937) Freddie Freeman (628) Pete Alonso (241) Pete Alonso (146) Pete Alonso (380)
2 Paul Goldschmidt (.892) Jose Abreu (587) Freddie Freeman (239) Matt Olson (123) Jose Abreu (375)
3 Pete Alonso (.884) Paul Goldschmidt (568) Matt Olson (233) Paul Goldschmidt (106) Freddie Freeman (357)
4 Matt Olson (.852) Yuli Gurriel (518) Paul Goldschmidt (224) Freddie Freeman (103) Matt Olson (347)
5 Jose Abreu (.848) Pete Alonso (512) Jose Abreu (223) Jose Abreu (97) Paul Goldschmidt (332)

Alonso is coming off an impressive 2022 campaign in which he slugged 40 home runs — already the second time in his four-year career he’s reached that benchmark — while leading the National League with 131 RBI.

Pete Alonso Mets
Pete Alonso. (AP Photo/Alex Gallardo)

What is this kind of production worth?

There are four reoccurring names on the table above that helps set the first baseman’s market: Matt Olson of the Atlanta Braves, Freddie Freeman of the Los Angeles Dodgers, Paul Goldschmidt of the St. Louis Cardinals, and Jose Abreu of the Houston Astros.

All four have signed deals within the last three years but only Olson is comparable to Alonso’s current age — though it’s clear just from the stats above that the Mets’ slugger is the more productive hitter.

Notable recent contracts for MLB 1st basemen

Player Term Total Money Average Annual Value Age at Signing (Year) Previous season’s production before contract
Jose Abreu 3 years $58.5 million $19.5 million 35 (2023) .304/.378/.446 (.824 OPS), 15 HR, 75 RBI
Freddie Freeman 6 years $162 million $27 million 32 (2022) .300/.393/.503 (.896 OPS), 31 HR, 83 RBI
Paul Goldschmidt 5 years $130 million $26 million 32 (2020) .260/.346/.476 (.821 OPS), 34 HR, 97 RBI
Matt Olson 8 years $168 million $21 million 28 (2022) .271/.371/.540 (.911 OPS), 34 HR, 103 RBI
Pete Alonso ? ? ? 28 (2023) .271/.352/.518 (.869 OPS), 40 HR, 131 RBI

Another issue when comparing Alonso to Olson is that the latter — while given a much more fair deal compared to that of some of his Atlanta counterparts — signed with an organization that has shown an affinity to signing its stars to team-friendly deals.

The Mets’ first baseman and his camp are certainly within their right to ask for a 10-year deal. At just 28 years old, Alonso is playing a position that is less strenuous than Francisco Lindor’s shortstop — and he signed a 10-year, $341 million extension that will keep him in Queens until he’s 37 years old. Meanwhile, Alonso’s career has the opportunity to be extended by the designated hitter the deeper into his 30s he gets. 

However, can he get a deal that provides a larger annual value than Freeman or Goldschmidt? 

Spotrac has dictated Alonso’s market value at $32.1 million annually, which would see him earn a deal of $321.8 million over 10 years. That appears to be on the extraordinarily high side of the spectrum given what the Dodgers and Cardinals stars are making during their monster seasons.

Freeman just batted .325 and led the National League with a .407 on-base percentage, 199 hits, 117 runs scored, and 47 doubles. Goldschmidt just won the National League MVP by slashing .317/.404/.578 (.981 OPS) with 35 home runs and 115 RBI.

Alonso’s power and age should see him get just above what Freeman and Goldschmidt are making per year — potentially between $28 million and $30 million. But a deal of an average of $32.1 million per year seems like it would be reserved for a somewhat shorter deal; not for a decade-long one for a first baseman given the market.

That’s why we see a contract extension coming in at 10 years, $295 million.


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For more on the Mets and Pete Alonso, visit AMNY.com