Alex Bregman has made it through his first experience as a free agent. He might be planning another foray after this season.

The third baseman agreed Wednesday on a three-year, $120 million contract with the Boston Red Sox, according to Chandler Rome of the The Athletic. The deal reportedly contains opt-outs after the first and second seasons, making this essentially a pillow deal for a player whose free agency did not go as he hoped.

Bregman, ranked No. 4 on Yahoo Sports’ list of this winter’s top 50 free agents, was the last major free agent on the board, a reflection of the fact that no MLB team was willing to meet the asking price of his agent, Scott Boras. Bregman reportedly had offers of six years and more than $170 million.

The situation was an echo of what some of Boras’ clients went through last year, with the same result of a shorter, high average annual value deal with opt-outs. The strategy eventually worked out for Matt Chapman and Blake Snell, but less so for Cody Bellinger and Jordan Montgomery.

At the heart of teams’ hesitance to sign Bregman were his age and a down year in 2024, with even more concerning peripherals. Due to a six-year, $100 million extension he signed in 2019, Bregman was an older free agent at 30 years old, set to turn 31 at the end of March.

There were also some concerning trends in his 2024 numbers, most notably in his plate discipline. His 23.6% chase rate was his highest since 2017, and his 44.9% swing rate was his highest since 2016, leading to a 13.6% strikeout rate, his highest over a full season since 2017. Meanwhile, a decrease in his walk rate from 12.7% in 2023 to 6.9% in 2024 led to a .315 on-base percentage, easily his worst number since his rookie year.

With Bregman turning 31 just a few days into the 2025 season, those types of drop-offs aren’t unheard of. But now his hope will be to reenter the mark one year older, which means this year has to go well with the Red Sox.

Given the Red Sox already have Rafael Devers, a younger player on a larger contract who was better in 2024, Bregman is expected to change positions and play second base, ESPN’s Jeff Passan reported.

Bregman has appeared at shortstop, second base and left field in his career, but none of them since 2019. Campbell also can play multiple positions and could bump Trevor Story at shortstop or play centerfield.