Pete Alonso Is Running Out Of Free Agency Options

Just a few years ago, it seemed like Pete Alonso was destined to be a franchise cornerstone for the New York Mets. 

The "Polar Bear," as he came to be known, burst on to the scene in Major League Baseball with a dominant rookie season. In 2019, he hit .260/.358/.583 with 53 home runs, 120 runs batted in and 103 runs scored. Despite some woeful defensive rankings, it was a 4.7 win season, worth nearly 41 runs above average on offense. 

Now as a free agent in the offseason of 2024-2025, Alonso is still looking for a new place to play. How did we get here? And what options does Alonso have left?

Former general manager and current MLB Network analyst Jim Duquette reported on Friday that Alonso's camp, ostensibly his agent Scott Boras, has proposed to the Mets a three-year deal, with opt-outs to allow Alonso to reach free agency again. And they still haven't taken it.

"According to league sources, Pete Alonso's camp has offered the Mets a three-year deal with opt-outs. This deal is only available to the Mets right now," Duquette said on X. "No deal known to be close at the moment, and Alonso's agent Scott Boras declined comment."

NEW YORK - New York Mets first baseman Pete Alonso (20) high-fives right fielder Starling Marte (6) after scoring during the fourth inning against the Los Angeles Dodgers during game five of the NLCS for the 2024 MLB playoffs at Citi Field on Oct. 18, 2024. Mandatory Credit: Vincent Carchietta-Imagn Images

Pete Alonso Facing Uphill Battle For Big Contract

It had previously been rumored just a few weeks ago, in a now-deleted section of a post by Bob Nightengale, that Alonso was looking for a $200 million contract and long-term commitment. Now he's apparently willing to take a short-term "prove it" type contract to sign with the Mets.

How did it fall so far, so quickly?

There are several explanations, chief among them being that teams have learned not to value aging first basemen very highly. The bar for offense at first is so high, and the aging curve for most is so steep that many big money deals handed out to elite hitters often wind up as disastrous overpays within a few short years. 

Alonso also has several factors going against him as a player: his best season in 2019 was the juiced ball season, when 53 players, including names like Paul DeJong, hit more than 30 home runs. And while Alonso has consistently delivered above-average power, his atrocious defensive ratings weigh down his overall value. Last season, despite hitting 34 home runs, he was worth just 2.1 wins, per Fangraphs, and was just 14 runs above average as a hitter.

Several other potential landing spots have also picked other options. The Yankees seemed like a fit, but they signed Paul Goldschmidt on a one-year deal, the Astros signed Christian Walker, the Padres have no money to spend, and the Nationals acquired Nate Lowe from the Rangers.

The Giants could be interested, but they invested heavily in shortstop with Willy Adames. So that leaves…the Mets. And it's why Alonso's market seems to be drying up quickly. A multi-year expectation is rapidly turning into a one-year hope.