Phillies, Alvarado agree on contract extension

The Philadelphia Phillies agreed to a three-year contract extension with left-hander Jose Alvarado, the MLB club announced on Friday morning.

José José José José pic.twitter.com/oYVIdSINou

— Philadelphia Phillies (@Phillies) February 17, 2023

He will reportedly make $3.45 million in 2023, his arbitration salary, and $9 million in both 2024 and 2025.

The Phillies have a 2026 club option for the same amount with a $500,000 buyout, putting the total guarantee from 2023 to 2025 at just under $22 million.

In 2022, Alvarado, who was scheduled to hit free agency after the 2023 season, transformed himself from possible DFA candidate to one of the best relievers in the sport.

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Phillies sign 3-year extension with ace Zack Wheeler

After getting sent down to Triple A due to his struggles during the first two months of the season, Alvarado pitched to a 1.66 ERA with 64 strikeouts over 38 innings in the regular season.

Throughout the year, there was always questions as to whether or not Alvarado’s improved command was “sustainable.”

The contract extension indicates that the Phillies believe in Alvarado and are willing to trust him in the back end for at least the next three years.

Yes Ser 🫡 pic.twitter.com/9mOeRXNLph

— Philadelphia Phillies (@Phillies) February 16, 2023

This is the second Phillies extension this week. Seranthony Domínguez signed on Thursday a two-year contract with a club option for his first free agent year in 2025.