Orioles sign closer Ryan Helsley, setting market for Angels-Kenley Jansen reunion

The offseason is underway for the Angels and rest of MLB, as the closer market is beginning to be set. The Angels' top priority this offseason should be bringing back Kenley Jansen, as they are receiving more information in terms of how much they'll need to pay to bring back the potential Hall of Fame closer. Atlanta recently signed Raisel Iglesias to a one-year, $16 million deal for the 2026 season, which was the first domino to fall for the closer market this offseason. It also set the market, giving the Angels some general guidance in potential Jansen negotiations.

The market evolved further on Saturday, as the Baltimore Orioles brought in closer Ryan Helsley to command the ninth inning for them, agreeing to a two-year deal worth $28 million. The deal includes an opt-out for Helsley, so he can re-enter the market next offseason if he desires.

Orioles sign Helsley, paving way for Angels-Jansen reunion

With Iglesias and Helsley finding homes for 2026, the remainder of the elite relievers in free agency have somewhat discovered how the market is going to play out this season. Helsley had an incredibly poor half to the 2025 season after being traded to the New York Mets, posting a 7.20 ERA in 22 appearances for them. He had been one of the more elite options out of the bullpen the past few years, though, and the Orioles deemed him worthy of a $14 million AAV.

Jansen, on the other hand, is one of the best closers of all-time and coming off his best season in years. The Angels got incredibly lucky to sign him for only $10 million, a number he far outpaced in 2025. His numbers look even better when his outing against the Detroit Tigers - where he surrendered six runs - is eliminated. His ERA drops to 1.70 for the season without that outing, showing just how dominant Jansen and his Hall of Fame worthy cutter were for the Angels.

With these two numbers, it is fair to say Jansen is going to be making more than $10 million next season. While his age will definitely play a role, and he may prefer a longer contract, $15 million AAV seems to be the starting point rather than the higher end of any contract negotiations. And with the Angels spending the past two weeks slashing their payroll with the Taylor Ward-Grayson Rodriguez swap and the reported Anthony Rendon buyout, they have more than enough to bring back Jansen even if the closer market is inflated this offseason.