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The Baltimore Orioles have agreed to terms with the top power hitter remaining on the free agent market. The O's and first baseman Pete Alonso have agreed to a five-year contract worth $155 million, CBS Sports has confirmed. The deal does not include any opt outs, per the New York Post. The team has not yet announced the signing. 

The signing comes one day after it was reported the Orioles offered Kyle Schwarber the same five-year, $150 million contract he took to return to the Philadelphia Phillies. Essentially, the O's added $1 million per year to that contract, pivoted to Alonso, and got it done. The $31 million is the second-highest average annual value ever given to a first baseman.

  1. Vladimir Guerrero Jr., Blue Jays: $35.7 million
  2. Pete Alonso, Orioles: $31 million
  3. Miguel Cabrera, Tigers: $31 million
  4. Freddie Freeman, Dodgers: $27 million
  5. Paul Goldschmidt, Cardinals: $27 million

Erstwhile top prospect Coby Mayo did not impress in his big-league time in 2025 and could now find himself on the trade block. The Orioles have been connected to just about every starting pitcher this offseason, though rumblings of a trade with the Miami Marlins for righty Edward Cabrera have persisted at the Winter Meetings. Mayo could be a factor there.

With the caveat that there is still a long way to go between now and Opening Day, Baltimore's lineup now looks something like this heading into 2026:

  1. 2B Jackson Holliday, LHB
  2. 3B Jordan Westburg, RHB
  3. SS Gunnar Henderson, LHB
  4. 1B Pete Alonso, RHB
  5. RF Dylan Beavers, LHB/Tyler O'Neill, RHB
  6. LF Taylor Ward, RHB
  7. C Adley Rutschman, SHB
  8. CF Colton Cowser, LHB
  9. DH Samuel Basallo, LHB/Ryan Mountcastle, RHB

The Orioles need to add to their rotation behind Trevor Rogers and Kyle Bradish, and more bullpen help can't hurt, but that is a strong lineup with Alonso and Ward bringing much needed right-handed power. The O's ranked 11th in home runs in 2025 and their lineup was very left-handed heavy at times. They're much more powerful and balanced now.

Alonso, 31, hit .272/.347/.524 (144 OPS+) this past season with 38 home runs and 126 runs batted in. His contributions were worth an estimated 3.4 Wins Above Replacement, per Baseball Reference's calculations. For his career, he's posted a 135 OPS+ and averaged 3.7 WAR and 42 home runs per season. Alonso is a five-time All-Star team honoree.

CBS Sports wrote the following while ranking Alonso as the ninth-best free agent in this winter's class:

Alonso just had one of the best seasons of his career. Can he convert that into the multi-year contract that evaded him last winter? It's hard to say. He sliced into his strikeout rate and established a new personal-best hard-hit percentage -- that's saying something, given strength is his defining characteristic. But modern front offices view non-elite righty first basemen with a certain indifference. Alonso now further into his 30s, too, making it easier for teams to fret about when, not if, he'll begin to decline.

Alonso had spent his entire career with the New York Mets up to this point, and this past summer he became the franchise's all-time home run leader. Last winter, his first foray into free agency resulted in a two-year pact worth $54 million. That contract enabled Alonso to opt out and return to the free-agent market this offseason -- this time without the qualifying offer attached.

In June 2023, the Mets reportedly offered Alonso a seven-year extension that would have paid him $158 million from 2024-30. Between his arbitration salary in 2024, his free-agent deal in 2025, and this new contract, Alonso will now be paid $205.5 million from 2024-30. He bet on himself in June 2023 and came out far ahead in the long run.

The Mets traded Brandon Nimmo last month and lost Edwin Díaz to the Dodgers in free agency Tuesday. Now Alonso is leaving as well. This offseason represents a sea change for the Mets, who went a disappointing 83-79 in 2025 and missed the postseason after giving Juan Soto the largest contract in sports history. If nothing else, they are being decisive and making big changes.

New York does not necessarily have to bring in a new first baseman to replace Alonso. They can shift Mark Vientos to first base and roll with Brett Baty and/or Ronny Mauricio at third base. They could also sign Alex Bregman to man the hot corner. They've been connected to the three-time All-Star throughout the offseason and could now ramp up their efforts to sign him.

Alonso will make his return to Citi Field as a visiting player next season, from Sept. 14-16.