Phillies Sign Alvarado To Three-Year Contract Extension
The Philadelphia Phillies have signed left-handed reliever José Alvarado to a three-year contract extension through 2025 with a club option for ‘26, the club announced Friday.
Alvarado had previously agreed to a one-year deal this season for $3.45 million.
The 27-year-old Alvarado was tied for the team lead with 59 appearances in ‘22, posting a 3.18 ERA with 81 strikeouts in 51 innings.
He posted a 0.43 ERA over his final 22 appearances of the regular season, allowing one run in 21 innings. In Alvarado’s two seasons with the Phillies, the Venezuela native is 11-3 with seven saves, a 3.71 ERA and 149 strikeouts in 106 2/3 innings over 123 appearances.
According to Statcast data, Alvarado threw 207 pitches at 100 miles per hour or harder in ‘22, the most among all left-handed pitchers and sixth-most in Major League Baseball. Since pitch tracking began in ‘08, Aroldis Chapman is the only left-hander with more career pitches at 100 mph or more than Alvarado’s 457.
Alvarado allowed a three-run home run to Yordan Alvarez in Game 6 of the World Series against the Houston Astros, but his body of work throughout was rock solid.
According to the Associated Press, Alvarado will earn a $50,000 signing bonus and a $3.45 million salary this year, then receives $9 million in each of the following two seasons. The Phillies have a $9 million option for 2026 with a $500,000 buyout.
The AP also noted that Alvarado's deal calls for a $100,000 bonus for winning the World Series Most Valuable Player or the Mariano Rivera/Trevor Hoffman reliever of the year award, and $50,000 for finishing second or third for the reliever honor. He would earn $50,000 for making the All-Star team, winning an MVP or a Gold Glove.
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