Phillies Sign High-Leverage Reliever To Multi-Year Extension

The two sides avoided arbitration just last week with a one-year, $3.45 million deal, but apparently there were rumblings that there was momentum towards a longer deal.

As a result, the Philadelphia Phillies have signed pitcher Jose Alvarado to a three-year extension with a club option for 2026.

Phillies have extended José Alvarado to a 3-year deal that includes a club option for 2026.pic.twitter.com/jmhd6qgjbW

— Barstool Philly (@BarstoolPhilly) February 17, 2023

The details of the contract are two-years with a guaranteed $18.5 million, in addition to a $50K signing bonus. He has a $9 million 2026 club option or a $500K buyout.

Alvarado would have been a free agent following the 2023 season, but now the Phillies have locked in two free-agent years and possibly another one if they pick up the option.

The twenty-seven-year-old got off to a terrible start last season, which even led to him being optioned to the minors. 

However, Alvarado returned with a vengeance, finishing his season with a dominant 1.66 ERA and 64 strikeouts over his last 38 innings and 42 relief appearances. 

Over his two years with the Phillies, the left-handed reliever holds a 3.71 ERA, 1.41 WHIP, and 149 strikeouts over 106.2 innings of work.

The Phillies are clearly hoping his late-season success from last year is the new norm for him moving forward.
Photo Credit:  Troy Taormina-USA TODAY Sports