J.D. Martinez agrees to terms with the Mets:

J.D. Martinez, the top remaining offensive player on the market, reached agreement with the Mets on a one-year contract worth $12 million, pending a physical, according to an industry source. The Post’s Jon Heyman first reported the deal.

The source confirmed that under terms of the contract Martinez will receive $4.5 million this season with the rest deferred, allowing the Mets to reduce their luxury-tax hit from the signing.

Martinez will receive $1.5 million in deferrals each year from 2034-38.

NYPost.com

So it’s not really a $12 million deal. Like the Dodgers deal with Shohei Ohtani, the money used for the luxury tax calculation will be somewhat less. Unless there are performance bonuses, the Mets are getting a two WAR hitter for the price of a one WAR hitter. This is not free agency’s finest hour.