The person spoke on condition of anonymity Wednesday night because the agreement, first reported by The New York Post, was subject to a successful physical.
Alonso gets a $10 million signing bonus and gets salaries of $20 million this year and $24 million in 2026. He can opt out after the 2025 season to become a free agent again.
New York also offered a $71 million, three-year deal with salaries of $27 million in 2025 and $22 million in each of the following two seasons, with the ability to opt out after each of the first two years, the person said.
Alonso, who turned 30 on Dec. 7, lingered on the market longer than other top players. Among other free-agent first basemen, Christian Walker agreed to a $60 million, three-year contract with Houston, and Paul Goldschmidt (New York Yankees) and Carlos Santana (Cleveland) accepted one-year agreements.
Mets owner Steve Cohen expressed frustration last month, saying the negotiating was more difficult than the talks that led to a record $765 million, 15-year contract with Juan Soto, who like Alonso is represented by agent Scott Boras.
“I don’t like the structures that are being presented to us,” Steve Cohen said. “It’s highly asymmetric against us and I feel strongly about it. I will never say no. You know, there’s always a possibility.
“But the reality is that we’re moving forward and we continue to bring in players. And as we continue to bring in players, the reality is, it becomes harder to fit Pete into what is a very expensive group of players that we already have.”
Under his previous agency, Alonso turned down a $158 million, seven-year offer in 2023 that would have covered 2024-30. He switched representation to Boras after the 2023 season and agreed to a $20.5 million, one-year deal that avoided arbitration.
Alonso hit 226 homers over six seasons with the New York Mets and became a four-time All-Star, but his strikeouts steadily increased to a career high 172 last year while his OPS has dropped to a career-low .788.
Nicknamed the Polar Bear, Alonso became a Citi Field fan favorite as a home-grown member of the Mets.
He was NL Rookie of the Year in 2019, when he hit .260 with a major league-high 53 homers — a rookie record — and 120 RBIs. He had a career-high 131 RBIs in 2022.
Alonso batted a career-low .217 in 2023 while hitting 46 homers and driving in 118 runs and hit .240 with 34 homers and 88 RBIs this year. His three-run, ninth-inning home run off Devin Williams lifted the Mets over Milwaukee in the decisive third game of their NL Wild Card Series.
After losing to the Los Angeles Dodgers in the NL Championship Series, the Mets added Soto and right-handers Frankie Montas, Clay Holmes and Griffin Canning along with left-hander A.J. Minter, and re-signed left-hander Sean Manaea, right-hander Ryne Stanek and outfielder Jesse Winker
