The New York Mets and first baseman Pete Alonso are in agreement on a two-year contract that will guarantee him $54 million, sources told ESPN's Jeff Passan.

Alonso has a player option worth $24 million for 2026, per SNY's Andy Martino.

The 30-year-old could've signed a three-year, $71-million contract but opted to ink a two-year pact instead, a source told MLB.com's Mark Feinsand.

Alonso's deal with the Mets doesn't contain any deferred money, according to The Athletic's Will Sammon.

The Toronto Blue Jays reportedly showed strong interest in signing Alonso before he agreed to return to New York.

Alonso has developed into one of baseball's premier power hitters in six seasons with the Mets. He hit 34 home runs with 91 runs scored, 88 RBIs, and a 122 wRC+ in 162 appearances last season.

MLB home run leaders since 2019

Alonso is expected to form a fearsome trip atop the Mets' lineup alongside star shortstop Francisco Lindor and marquee free-agent acquisition Juan Soto.

The four-time All-Star enters the 2025 campaign with the third-most home runs in Mets history. Alonso (226) trails David Wright by 16 home runs and Darryl Strawberry by 26 for the most long balls by a Mets player.