Mets agree to terms on five-year deal with Jon Niese

The Mets and Jon Niese have agreed to terms on a five-year, $25 million contract extension, according to multiple beat reporters on Twitter.

The deal, which was first reported by ESPN New York, also includes an option for 2017 and 2018 that could raise the total value to $46 million.

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Niese was eligible for salary arbitration through the 2015, after which he could have been a free agent. The rumored five-year deal would keep him signed through 2016.

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Matthew Cerrone: As I said when this deal was first rumored to be in action, it’s a no brainer. Basically, Jon is giving up the potential to earn more money during the next four years in return for having guaranteed money in 2016, which he would not have been guaranteed otherwise. If he pitches so well that he dominates the league, he’ll regret agreeing to be paid just $10 million or so in 2016, knowing he could likely make more on the open market. However, if he injures himself or is terrible during the next four years, he’ll be thrilled and thankful to be earning that money.

On the other hand, the Mets are forced to commit money in 2016 to a guy who right now is just is 22-23, but they do so in return for putting a ceiling on what he might earn should he overachieve. Again, if Niese goes on to dominate the next five years, the Mets will be thrilled to know they have such an amazing talent below market value. Of course, if he stinks, they’re stuck with the contract.

In other words, this is a nice, mild and obvious win-win for both sides; it gives Niese the peace of mind to not worry about money and focus on his game; and it makes Jon’s salary a known quantity for the Mets, as they budget for the future.