Could Edwin Díaz's record-setting deal impact Cade Smith’s future with Guardians?

On Tuesday, free agent reliever Edwin Díaz signed a record-setting three-year, $69 million deal with the Dodgers that stands as the new gold standard when it comes to reliever contracts. 

Even though Díaz’s previous contract with the Mets was for a larger amount ($102 million over five years), Díaz’s new contract has an AAV of $23 million, which will now stand out as the north star for every closer reliever seeking a new deal in free agency. 

Three-and-a-half years ago, the Guardians got a discount at the back of their bullpen by signing Emmanuel Clase to a five-year contract worth $20 million. But, with Clase out of the picture due to his part in a sports betting investigation, Cade Smith has taken over as the Guardians’ closer.

Even though Smith being the closer is technically a discount since he still isn’t eligible for arbitration, his price tag is going to rise exponentially after this season since saves are a stat that can get players paid via the arbitration process. 

One of the ways the Guardians could circumvent that process is signing him to a long-term extension that buys out those arbitration years, but that may have gotten tougher now thanks to Díaz and his contract extension. 

Edwin Díaz’s contract means the Guardians will need to pay even more to hold onto Cade Smith

It’s worth noting that Díaz is in a different category than Smith. Even if Smith has two above-average MLB seasons under his belt, Díaz is a nine-year veteran with 253 career saves. 

But that doesn’t take away from the fact that Smith’s ceiling is sky high. He’s struck out 35.1% of the batters he’s faced since making his debut at the start of 2024 (the seventh-best mark in baseball in that time), and just finished up a year where he recorded 13 saves in the time after Clase was suspended. 

Smith still has a long way to go until he’s able to reach the kind of level that Díaz is at, but he’s a valuable pitcher at the back of the bullpen that every team would love to have (yes, even the Dodgers). 

It’ll be interesting to see how the Dodgers handle Smith’s future. They have a track record of trading star players before they hit free agency (which is why Steven Kwan has become a mainstay in trade rumors), but it’s hard to believe they’d trade Smith any time over the next two seasons considering he won’t be a free agent until after the 2029 season. 

To be clear, the Guardians having Smith in the fold is a good thing, but the fact we already have to think about his future is a symptom of the way the Guardians operate. 

While Cleveland’s front office is one of the best at operating on a tight budget, part of the reason they’re able to do that is because they’re willing to move off players before they get expensive. 

Díaz’s extension is another reminder of how expensive Smith could end up being.