Just hours after news broke of closer Josh Hader signing a record-breaking five-year, $95 million contract with the Houston Astros, another free agent reliever has been taken off the market.
On January 19, NY Post’s Jon Heyman reported that right-handed reliever Robert Stephenson agreed to a three-year deal, plus an option for 2027, with the Los Angeles Angels. Sam Blum of The Athletic confirmed the contract’s guaranteed value at $33 million and will be made official once Stephenson passes a physical.
In 2023 with the Tampa Bay Rays, Stephenson posted a 3.10 ERA with 77 strikeouts in 52.1 innings, marking his career-lowest ERA and WHIP (0.88). The Angels will be the 30-year-old’s fifth team since he made his MLB debut in 2016, following stints with the Cincinnati Reds, Colorado Rockies, Pittsburgh Pirates, and Rays.
As of January 19, the Angels have a full 40-man roster, so the team will need to make space for Stephenson once the contract is official. Stephenson’s signing is Los Angeles’ fourth major-league free-agent deal of the winter, having already secured Adam Kolarek (one year, $900 thousand), Zach Plesac (one year, $1 million), and Luis Garcia (one year, $4.25 million).
The Angels desperately needed to find relief pitchers this offseason, after their bullpen’s 4.88 ERA in 2023 ranked the sixth-worst in MLB. With four relievers now signed (though Kolarek has already been outrighted off the 40-man roster), the team is unlikely to make any more moves in the relief market.
Having lost two-way superstar Shohei Ohtani to free agency at the end of 2023, Los Angeles still needs to add at least one starting pitcher to their rotation. They’ve been repeatedly linked to top starter Blake Snell, with the Susan Slusser of the San Francisco Chronicle reporting they’ve made pursuing him “their priority.”
Snell rejected a five-year, $150 million offer from the New York Yankees earlier this month, so if the Angels are serious about the acquisition, he’s unlikely to come cheap.
Inside Robert Stephenson’s Deal
The exact details of Stephenson’s three-year, $33 million deal (plus option) with the Angels are yet to be announced, but it’s already confirmed to be higher in value than expected.
On November 6, 2023, MLB Trade Rumors projected Stephenson would be looking at a four-year, $36 million contract in free agency, which would place his guaranteed value for three years at around $27 million. Looking to other relief pitchers with similar career trajectories to Stephenson, Emilio Pagán’s recent contract was also worth substantially less. On December 1, 2023, Pagán signed a two-year, $16 million deal with the Reds, including an opt-out after the 2025 season, for an AAV of $8 million.
Stephenson’s AAV on his new deal is $11 million.
Which Free Agent Relievers Are Still on the Market?
With Hader and Stephenson newly signed to teams, the free agent market for top relief pitchers is slowly thinning. Jordan Hicks, Reynaldo López, Craig Kimbrel, and a slew of others secured deals earlier in the offseason, so which player’s market could be the next to heat up?
Hector Neris, Aroldis Chapman, Matt Moore, Phil Maton, and Ryne Stanek are all still available, though many have been linked to teams in the past few weeks. With less than a month before pitchers report to spring training, teams looking to reinforce their bullpens will need to move quickly, especially as options continue to dwindle.
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Los Angeles Angels Reinforce Bullpen With $33 Million Reliever: Report