The Seattle Mariners formally announced the signing of first baseman Josh Naylor on Monday, and then formally introduced him at a news conference at T-Mobile Park on Tuesday morning.

It's a five-year deal worth $92.5 million for Naylor, who is under contract through 2030.

And while the total money is certainly notable, the exact contract structure favors the Mariners through the rest of the offseason.

Per Jon Heyman of the New York Post:

Naylor, Josh

Mariners

$92.5M

Signing Bonus - $6.5M

$10M - 2026

$16M- 2027

$18M - 2028

$20M - 2029

$22M - 2030

Plus: $50K for All Star ($25K Selection)

$150K for MVP

$100K for WS/MVP

$50K for LCS/MVP

$50K for SS/GG

Full No Trade

When you hear that a contract is worth just over $90 million in total, you are thinking it's an average of $18 million a year. To find out it's only $10 million this season? That should leave the Mariners more money to play with.

Let's start to examine:

The Mariners entered the offseason with roughly $35 million to spend. Naylor's contract for 2026 has now taken $10 million of that. That leaves $25 million left. If the $6.5 million is taken into account by the M's, then there's about $18.5 million left. If it's not taken into account, then there's the full $25 million. Either way, every dollar counts as the M's pursue reunions with Jorge Polanco and Eugenio Suarez, in addition to other talent.

How it helps for the future

Because of arbitration and contract extension raises, the Mariners will continue to get more expensive.

Cal Raleigh will be more expensive in 2027, as will Logan Gilbert, George Kirby, Bryce Miller and Bryan Woo. Naylor will get more expensive as well, however, some of that is counteracted by Randy Arozarena and Victor Robles, who will come off the books at the conclusion of 2026. That's predicted to somewhere in the range of $20-25 million in total savings.

Luis Castillo's contract, if he's not traded before then, could come off the books after 2027, which would leave $25 million more free, just as Naylor and Raleigh begin to get much more expensive.

How the Mariners handle things now

Well, that's up to Jerry Dipoto and Justin Hollander, but Seattle has the ability to continue shopping for everything on their list the rest of the offseason. They need to re-sign or replace Polanco and Suarez, and they also need a bullpen arm or two.

Related Mariners Stories

LATEST PODCAST IS OUT: Brady Farkas is back for the the latest episode of the Refuse to Lose podcast! He covers the Josh Naylor news from every angle including the message it sends to the clubhouse and fanbase. Also, what's next for Seattle? LISTEN HERE:

DON'T YA KNOW: Former Mariners infielder Robinson Cano played his final game in the United States on Saturday in an emotional sendoff. CLICK HERE: 

TIME TO MOVE ON: The Josh Naylor signing has officially turned the page on the M's offseason, at least to me. CLICK HERE: 

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