Another closer is off the board as the MLB Hot Stove continues to percolate, just days away from the winter meetings. 

The deal, which came one day after the Baltimore Orioles officially signed closer Ryan Helsley, figures to carry ramifications for the market. A pressing question now becomes whether the Mets will retain right-hander Edwin Diaz and build a super bullpen or let the No. 1 free-agent reliever walk.

Here’s a closer look at that and more:

Right-hander Devin Williams agrees to a three-year, $51-million deal with the New York Mets, according to The Athletic. 

Williams was reportedly coveted by several teams, who’ll now have to look elsewhere for a high-leverage reliever. The Boston Red Sox, Los Angeles Dodgers, Detroit Tigers, San Francisco Giants and Cincinnati Reds were among the clubs linked to the right-hander in recent days. 

Williams, who was traded to the New York Yankees last off-season from the Milwaukee Brewers, is coming off a down year that was well below his career norms. From 2020 to 2024, Emmanuel Clase (8.5) was the only reliever to produce more wins above replacement, per FanGraphs, than Williams (7.6). During that span, Williams posted a sparkling 1.70 ERA with an impressive 14.64 K/9 rate across 222 innings.

The Yankees were hoping to get that version of Williams, but the right-hander largely struggled out of the gate in the Bronx, resulting in boos from the home crowd. He lost hold of the closer’s role in April and was uneven for most of the campaign, posting a 4.79 ERA. 

However, behind that bloated number were signs that Williams’s production hadn’t totally cratered. 

For one, he began to find himself in August and allowed just five earned runs across his final 19 appearances of the regular season. Secondly, advanced metrics told a different story of the right-hander. His fielding independent pitching on the year was 2.64, indicating that he performed much better than his ERA showed. Furthermore, his whiff percentage ranked in the 99th percentile while his strikeout and chase rates sat in the 97th percentile. 

At 31, Williams figures to have several years of strong production left in the tank. He doesn’t throw particularly hard — his 94.1-m.p.h. fastball was below the 95.0 m.p.h. MLB average for right-handers last season — but his success is largely tied to an elite changeup.

The Mets’ signing of Williams can work two ways for the club. On one hand, if the club retains Diaz, pairing the incumbent closer with Williams at the back end would be a nice recipe for a bullpen that ranked 15th in MLB with a 3.93 ERA. 

On the other hand, if Diaz departs, Williams would offer a sort of protection for New York. The Mets remain open to a reunion with Diaz, according to Will Sammon of The Athletic, but it remains to be seen how much the dominant right-hander will cost. Diaz, 31, is coming off an excellent campaign (1.63 ERA, 28 saves, 38 K%) and could command close to $100 million. 

Either way, the Mets and owner Steve Cohen appear to be eager to rebound next year after a disappointing 83-79 season that didn’t include a playoff berth.  

MLB Trade Rumours predicted Williams would ​fetch a four-year, $68-million deal. He fell below that in both term and value. 

As mentioned, with Helsley and Williams off the board, the market for Diaz could take shape. Another ninth-inning option available is right-hander Pete Fairbanks, who is a more affordable alternative and has been linked to the Toronto Blue Jays and Miami Marlins, among other clubs.