The Houston Astros have agreed to a five-year, $95 million contract with five-time All-Star closer Josh Hader that will be the largest in present-day value for a relief pitcher in MLB history, multiple outlets reported Friday.

Hader's new deal will technically surpass the six-year, $102 million contract the New York Mets gave closer Edwin Diaz in November 2022, as Diaz's pact includes deferred payments that lowers its present-day value to around $93.2 million.

The bold move also gives the Astros potentially one of the game's most dominant back ends of the bullpen by teaming Hader, a three-time winner of the Trevor Hoffman Award honouring the National League's best reliever, with two-time All-Star Ryan Pressly.

Hader is coming off an outstanding 2023 season with the San Diego Padres in which the left-hander recorded 33 saves and a 1.28 earned run average while striking out 85 batters in 56 1/3 innings.

The 29-year-old has averaged 15.01 strikeouts per nine innings over the course of his seven major league seasons, the highest rate in MLB history among pitchers with at least 350 career innings pitched. Diaz ranks second at 14.81 per nine innings.

BREAKING: LHP Josh Hader and the Astros are reportedly in agreement on a 5-year deal. pic.twitter.com/8uA1JjGIGV

— MLB Network (@MLBNetwork) January 19, 2024

Hader also returns to an organisation he was a part of from 2013-15 as a minor leaguer, though he didn't make his major league debut until after being traded by the Astros to the Milwaukee Brewers in July 2015.

The hard-throwing lefty had a dominant six-year run in Milwaukee, making four NL All-Star teams and winning the Hoffman Award in 2018, 2019 and 2021 while helping the Brewers to four consecutive post-season appearances from 2018-21.

Milwaukee traded Hader to the Padres during the 2022 deadline in a surprising move, and he struggled with his new team over the remainder of that season before bouncing back with a strong 2023 campaign.

Hader has recorded 165 career saves along with a 20-21 record and a 2.50 ERA in 349 major league appearances, all in relief.

The signing is the first major move of the offseason for the Astros as they attempt to keep pace with the in-state and American League West rival Texas Rangers.

Houston reached the World Series four times in a six-year span from 2017-22 but was ousted by Texas in seven games in this past season's AL Championship Series, with the Rangers going on to defeat the Arizona Diamondbacks and capture the franchise's first World Series title.