A contract extension the NY Mets should immediately offer to Freddy Peralta

The New York Mets have been making headlines all week with big trades and signings, but finally, their biggest missing piece has been resolved. In a trade with the Milwaukee Brewers, the Mets have landed their ace in Freddy Peralta, while gaining more pitching depth by picking up Tobias Myers in the deal, too.

It's up to interpretation for now as to whether or not the Mets overpaid for their new, shiny ace; they had to give up two of their prized prospects, Jett Williams and Brandon Sproat, to push the deal across the finish line. One thing that is certain, however, is that the trade is far more worthwhile if they can extend Peralta, as he is in the final year of a five-year contract signed with Milwaukee. Otherwise, the Mets will have given up two top 100 prospects for a rental.

The Mets should offer Freddy Peralta a five-year, $140 million contract extension.

It might seem like we're jumping the gun a bit. $28 million per year is a lot, after all. Peralta is a fairly accomplished player, but enough to justify that contract? In March 2019, Chris Sale, who was at the time coming off his seventh consecutive All-Star appearance, received a five-year, $145 million contract from the Red Sox. At first glance, it seems ridiculous to give Peralta a contract only slightly less than that.

The truth of the matter, however, is that the market has changed. Ranger Suarez, who has just one All-Star appearance in 2024 and has never received a Cy Young vote, got five years and $130 million from the Red Sox this offseason.

Meanwhile, Peralta is coming off the best year of his career, in which he went 17-6 with a 2.70 ERA, earning his second All-Star appearance and finishing fifth in National League Cy Young voting. His 17 wins led the NL. If he enters the free agent market next year, a bidding war will likely ensue, and he knows it. It would be in the Mets' interest to pay him, locking him down before anyone else can touch him.

Of course, a scenario remains where Peralta has a disastrous season with the Mets, and nobody wants to sign him next year. As unlikely as this is, considering that even in Peralta's worst season this decade (2024), he finished with a 1.22 WHIP, Stearns needs to be willing to take that risk with an extension. As young, budding aces like Nolan McLean and Jonah Tong look to find their place, a presence like Peralta's in the clubhouse is vital to their development.