What Should Philadelphia Phillies Do With Their Star Catcher Next Offseason?

The Philadelphia Phillies enter the 2025 season with aspirations of winning the World Series, but the organization's front office will also have to navigate several complex contractual situations to extend the team's contention window.
At the forefront of these discussions will be the status of veteran catcher J.T. Realmuto, who has been a staple on several quality Phillies rosters since a blockbuster trade brought him to the team from the Miami Marlins in 2019.
His contract that has paid him just shy of $24 million on an annual basis expires after this season. The 33-year old Gold Glove catcher is an interesting discussion point given his age, slight recent decline, and continued importance to the team's lineup and pitching staff.
According to Fangraphs, Realmuto's value has slipped recently.
In 2022, he was worth 6.7 Wins Above Replacement as the Phillies made a run to the World Series, but that number has fallen to 2.1 in 2023 and 2.0 in 2024.
While that still means Realmuto is making a meaningfully positive impact on the club, it doesn't bode well for the likelihood that he rebounds to his previous levels as he continues to age. His Steamer projections for 2025 include further dips in several key offensive metrics, including a .309 on-base percentage and a .417 slugging rate.
His elite baserunning has faded as well, turning what was perhaps the factor that most separated him from his peers at the position into something much more negligible. The 2010 third-round pick swiped 21 bags in 2022, but only stole successfully twice last season.
On the other hand, there is a lot to be said for Realmuto's value as a framer and manager of a pitching staff. Philadelphia has a stable of starting pitchers in Zack Wheeler, Aaron Nola and Ranger Suarez who have been around a while and are accustomed to having the star catcher call their games.
Perhaps a short-term extension at a slightly reduced salary rate would be worthwhile to maintain that continuity in the battery, even if Realmuto's best days are behind him with the bat in his hands.