Raisel Iglesias deal could reshape the reliever market for the Rangers’ pursuits

The first bigger free agent relief pitcher is officially off the board with the news of Raisel Iglesias agreeing to return to the Atlanta Braves for the 2026 season.

On Wednesday, the 35-year-old signed a one-year deal worth $16 million to continue his journey as the late-inning arm for Atlanta, a role his held since being traded to the Braves from the Los Angeles Angels in the middle of the 2022 season.

With over 253 career saves, Iglesias has been one of the most effective closers in Major League Baseball over the last five years. It makes sense that he would sign for $16 million but with other high-quality relievers on the market, it could set a tone for others might expect this winte

Iglesias' deal with Atlanta impact free agent market

The reliever market is always a tricky slope to deal with every offseason. On one hand, there is a plethora or arms to choose from but on the other hand, relievers are a tricky asset to nail down and predict.

This is why they get paid little compared to other positions on the field and are more commonly known to receive shorter term deals, just like Iglesias did with Atlanta. But it's the money that really defines their value.

Going into the winter, Iglesias was one of the top relief pitchers on the board. Iglesias' 2.6 WAR was third-best in baseball trailing only Edwin Diaz (3.2) and Robert Suarez (2.8). Therefore, it makes sense that Iglesias would get paid $16 million even if it is just for one year.

Now Diaz and Suarez will nail down multi-year deals that will be considered among the abnormally high-end for a relief pitcher but that's where the market is headed. What will be interesting to see is those categorized as seeming "below" Iglesias in value but really performing at a high-level.

A name that sticks out the most is former Cardinal and Met Ryan Helsley. Over the last two seasons, the 31-year-old has saved 70 games, including a fantastic 49 save year for St. Louis in 2023. Despite the tough stretch with the Mets to end last season, Helsley still could make that $16 million mark but it wouldn't be a surprise to see him go over in terms of money and length of contract.

Outside of that, other names include Devin Williams, Pete Fairbanks, Shawn Armstrong, Phil Maton, Hoby Milner and Kenley Jansen. Yes, they won't make $16 million for a season's worth of work but have legitimate cases to get more than what they thought based off Iglesias' deal.

How does this hurt the Rangers bullpen rebuild?

Simply put, it could price the top arms out of their intended market. The Rangers are already on record with lowering payroll to nearly $200 million this upcoming season and are making drastic moves like potentially parting with a couple of World Series champions.

In desperate need of a true closer, Diaz and Suarez are without a doubt out of reach for Texas. Iglesias' deal would be pushing the envelope of comfortability and Helsley (one of their likely top targets) is on the similar trek.

This could indicate the Rangers going the route of dishing out more cheap one-year deals as they've done over the past two seasons. It hurts because it gives them an inconsistent foundation and would mean them having to go through a rebuild for the third straight season next winter.