Astros Sign Josh Hader to Record-Breaking $95-Million Contract
Following much anticipation, free agent closer Josh Hader is now off the market, reuniting him with one of his former organizations.
On Friday, the Houston Astros agreed to a five-year, $95-million contract with Hader, first reported by ESPN’s Jeff Passan. The deal doesn’t include any deferrals or opt-outs, includes a full no-trade clause and becomes the most lucrative present-day contract signed by a relief pitcher.
The Athletic’s Chandler Rome and Ken Rosenthal reported Thursday that the Astros were “making a push” to sign the left-handed reliever.
Houston’s efforts to acquire Hader were the second such attempt in less than 12 months, as the front office heavily targeted the five-time All-Star leading up to last season’s trade deadline, per Rome’s report. But the San Diego Padres ultimately decided to shelve trade talks.
The New York Yankees, Los Angeles Dodgers and Texas Rangers were said to be amongst the teams to have expressed interest in the 29-year-old closer earlier this off-season, according to former GM turned MLB analyst Jim Bowden.
Hader’s record-breaking contract surpasses Edwin Díaz’s five-year, $102-million contract extension – which held the previous record – signed with the New York Mets last off-season.
It’s worth noting that $26.5 million of Díaz’s contract is deferred to 2033-45, lowering the competitive balance tax value to $93 million – a figure most viewed as the number to beat.
Díaz and Hader are amongst the elite of the elite for relief pitchers. But in terms of on-field value, the Mets closer – who missed all last season after tearing his ACL at the 2023 WBC – outperformed his counterpart in the two seasons before signing his record-breaking extension.
From 2021-22, Díaz pitched to a sparkling 2.38 ERA with 64 saves and a 33.7% strikeout-to-walk rate difference across 124.2 innings, worth an MLB-high 5.0 fWAR. While Hader has converted five more saves over his last two seasons (2022-23), he trails in ERA (3.13), K-BB rate difference (25.6%) and fWAR (2.5).
The Astros have been attempting to fill multiple vacancies in their bullpen this off-season, with Héctor Neris, Phil Maton and Ryne Stanek becoming free agents. On top of that, Kendall Graveman announced earlier this week he’d undergone shoulder surgery and will miss the 2024 season.
There’s still a potent one-two threat at the back end with former closer Ryan Pressly and Bryan Abreu. But they’ll look for others to step up in 2024, particularly Rafael Montero, who excelled in ‘22 before struggling to a 5.08 ERA one season after inking a three-year, $34.5-million extension.
Hader, who leads the majors in saves (153) since 2019, instantly creates a three-headed monster inside the Astros’ bullpen following his arrival.
Houston’s front office acquired the three-time National League Reliever of the Year winner in a mid-season trade with the Baltimore Orioles in 2013. But two years later, he was packaged to the Milwaukee Brewers in the Mike Fiers-Carlos Gómez trade.
The Millersville, Maryland, native spent six big-league seasons with the Brewers from 2017-22, notching 125 saves while posting a 2.48 ERA and 541 strikeouts over 269 relief appearances. He was traded to the Padres in a blockbuster deal during the 2022 campaign.
With a projected CBT payroll of $236.3 million before signing Hader, the Astros sat less than a million under next season’s luxury tax threshold, meaning they’re now positioned to become a luxury tax team for the first time in franchise history.
Houston finished above the luxury tax in 2020 but didn’t receive a penalty as MLB suspended its system due to the COVID-19 pandemic.
-Thomas Hall
Twitter: @Hall_Thomas_
Photo: Casey Aguinaldo. This file is licensed under the Creative Commons Attribution-Share Alike 4.0 International license.