Phillies extend José Alvarado

Another day, another Phillies reliever secures a contract extension.

The Phillies announced Friday morning that they have signed left-hander José Alvarado to a three-year extension.

Per Daniel Álvarez-Montes of El Extrabase, he will 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.

Alvarado was scheduled to hit free agency after the 2023 season.

In 2022, Alvarado transformed himself from possible DFA candidate to one of the best relievers in the sport. 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

This is the second Phillies extension in as many days. Seranthony Domínguez signed a two-year contract with a club option for his first free agent year in 2025.

It’s reasonable to wonder who is next. The Phillies are not expecting Rhys Hoskins to sign an extension considering he’s one year from free agency, his agent is Scott Boras and he’s expected to be one of the best bats available on the market. Like Hoskins, Aaron Nola could maximize his value by waiting a year and hitting the free agent market, but the Phillies have publicly expressed their desire to lock up Nola for the foreseeable future all offseason and could eventually get a deal done if they meet his asking price.

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