When the New York Mets landed Freddy Peralta in a trade with the Milwaukee Brewers, the discussion of a contract extension immediately arose, and the star right-hander recently revealed important information about the negotiations.
The star right-hander is looking for a seven- or eight-year contract, he told Jon Heyman of the New York Post. It’s the first clear indication of the asking price from Peralta’s side. The 29-year-old will be a free agent next offseason.
“I’m really comfortable here,” Peralta told Heyman. “I’m not going to lie. I’d love to be here. And I’d love to stay a long time.”
Peralta is making just $8 million this season. It’s a bargain for a two-time All-Star coming off a fifth-place finish in National League Cy Young voting. Peralta inked a five-year, $15.5 million extension with the Brewers back in 2020. The agreement included an $8.1 million club option for 2025 and a similar club option for this season.
New York Mets Pitcher Freddy Peralta Wants Seven- or Eight-Year Contract
Peralta is coming off a career-high 33 starts and an NL-leading 17 wins. He notched a 2.70 ERA with a 28.2% strikeout rate in his final year with the Brewers. Milwaukee sent him to New York in exchange for prospects Jett Williams and Brandon Sproat. Peralta has already been named the Mets’ Opening Day starter, facing off against the Pittsburgh Pirates on Thursday, March 26.
It took a few seasons, but Peralta emerged as a key member of Milwaukee’s rotation for several seasons. He debuted in 2018 and failed to gain traction as a starter. The righty shuffled between the rotation and the bullpen for the next couple of years. Peralta broke out in 2021 with a 2.81 ERA across a career-high 144.1 innings. He picked up his first All-Star nomination that year. Peralta has come through with an ERA below 4.00 in each of the past five campaigns.
The desired contract length is certainly hefty, considering Peralta is entering his age-30 season. The largest contract for a starting pitcher on the free agent market this offseason was the seven-year, $210 million deal handed to Dylan Cease by the Toronto Blue Jays. That agreement was labeled as the worst contract of the offseason by MLB insiders. Other notable deals included the Boston Red Sox giving Ranger Suarez $130 million over five years, and the Detroit Tigers splurging on Framber Valdez for $115 million across three years.
Can the New York Mets Afford Freddy Peralta?
The Mets enter the 2026 season with an estimated payroll of $364 million, per RosterResource. It’s a significant jump from the $340 million the club spent in 2025. FanGraphs has the Mets with the most expensive roster in the league, behind the Los Angeles Dodgers, who deserve to be in their own spending category.
New York made multiple big financial additions this offseason. The organization agreed to a three-year, $126 million pact with Bo Bichette. The Mets shipped out Brandon Nimmo and his lengthy contract, but took on Marcus Semien, who will make $72 million over the next three seasons. The club also traded for Luis Robert, who will make $20 million this year. A few notable investments will be off the books in 2027 (David Peterson, A.J. Minter, Robert if his team option is declined), but the Mets will be pushing into Dodgers’ territory if they agree to a long-term deal with Peralta.
Mets Ace Freddy Peralta Shares Key Detail in Contract Extension Talks