Key Takeaways
- • Sean Manaea's contract represents a near-term liability for the Mets, with $25 million owed in 2026 (including $7.5 million deferred) and similar deferrals scheduled for 2027, positioning owner Steve Cohen to absorb costs if performance doesn't improve.
- • Manaea's 2025 season performance—missing half the year due to injury and underperforming upon return with only 12 starts and 3 relief appearances—has eroded organizational confidence despite a strong 2024 campaign.
- • The Mets may be forced to eat a significant portion of Manaea's remaining contract by mid-2027 if he continues to underperform, following Cohen's pattern of absorbing salary obligations on deals like Max Scherzer and Justin Verlander.
- • The pitcher's bullpen repositioning in September (including performances against San Diego and Chicago) and early hook in game 162 signal management has already lost faith in his ability to serve as a reliable starter.
Summary
Steve Cohen's tenure as majority owner of the New York Mets has been marked by substantial financial writedowns on player contracts, a strategic choice the ownership group has accepted in pursuit of competitive improvement. The Sean Manaea deal, signed last offseason, is emerging as another candidate for partial absorption before its expiration—adding to the financial burden already incurred through high-profile trades involving Max Scherzer and Justin Verlander.
Manaea's contract carries an annual value of $25 million through 2026 and 2027, with $7.5 million deferred in each of those years. The structure creates flexibility for deferrals but leaves Cohen exposed to significant cash obligations. The pitcher's 2025 performance has intensified concerns about the deal's long-term viability. Manaea missed approximately half of the 2025 season due to injury, limiting him to just one appearance in the first half of the year. Upon his return, he failed to regain his 2024 form, registering only 12 starts and 3 relief appearances for the season.
The organization's confidence deteriorated visibly in September, when manager Carlos Mendoza moved Manaea to the bullpen on two separate occasions. His first bullpen appearance yielded positive results—5 innings in a victory against the San Diego Padres. His second appearance was significantly worse, occurring in a 10-3 loss to the Chicago Cubs where he allowed a single, stolen base, and home run in an already-decided game. Most tellingly, Manaea was pulled after just 1.2 scoreless innings in game 162 despite allowing no runs, a signal that Mendoza had exhausted his patience with the pitcher's consistency.
While Manaea receives some consideration for his injury-plagued 2025 given his strong 2024 performance, the trajectory suggests the Mets may face a decision point by mid-2027 to either continue absorbing his salary or explore alternative solutions. The Mets have positioned him as a bullpen option rather than a starter, but if performance continues to deteriorate, Cohen may ultimately absorb the remaining contract value—consistent with his ownership approach on previous underperforming deals.
Manaea's contract carries an annual value of $25 million through 2026 and 2027, with $7.5 million deferred in each of those years. The structure creates flexibility for deferrals but leaves Cohen exposed to significant cash obligations. The pitcher's 2025 performance has intensified concerns about the deal's long-term viability. Manaea missed approximately half of the 2025 season due to injury, limiting him to just one appearance in the first half of the year. Upon his return, he failed to regain his 2024 form, registering only 12 starts and 3 relief appearances for the season.
The organization's confidence deteriorated visibly in September, when manager Carlos Mendoza moved Manaea to the bullpen on two separate occasions. His first bullpen appearance yielded positive results—5 innings in a victory against the San Diego Padres. His second appearance was significantly worse, occurring in a 10-3 loss to the Chicago Cubs where he allowed a single, stolen base, and home run in an already-decided game. Most tellingly, Manaea was pulled after just 1.2 scoreless innings in game 162 despite allowing no runs, a signal that Mendoza had exhausted his patience with the pitcher's consistency.
While Manaea receives some consideration for his injury-plagued 2025 given his strong 2024 performance, the trajectory suggests the Mets may face a decision point by mid-2027 to either continue absorbing his salary or explore alternative solutions. The Mets have positioned him as a bullpen option rather than a starter, but if performance continues to deteriorate, Cohen may ultimately absorb the remaining contract value—consistent with his ownership approach on previous underperforming deals.
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