José Alvarado, Phillies agree to $22 million, 3-year deal
PHILADELPHIA, PENNSYLVANIA - NOVEMBER 03: Jose Alvarado #46 of the Philadelphia Phillies looks on from the mound against the Houston Astros during the sixth inning in Game Five of the 2022 World Series at Citizens Bank Park on November 03, 2022 in Ph
CLEARWATER, Fla. - Reliever José Alvarado and the Philadelphia Phillies agreed Friday to a $22 million, three-year contract, superseding a $3.45 million, one-year deal reached a week earlier that avoided salary arbitration.
Alvarado gets 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.
A 27-year-old left-hander, Alvarado would have been eligible for free agency after this season.
He went 4-2 with a 3.18 ERA and two saves in 59 relief appearances last year.
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Alvarado had a 5.56 ERA in 12 postseason appearances for the NL champions, getting the win in the Game 5 pennant-clincher against San Diego. Alvarado failed to hold a one-run lead in the sixth inning of World Series Game 6, relieving Zack Wheeler with two on and giving up a long three-run homer to Houston’s Yordan Alvarez. The Astros went on to a 4-1 victory that won the title.
Alvarado's deal calls for a $100,000 bonus for winning the World Series MVP 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 get $50,000 for making the All-Star team, winning an MVP or winning a Gold Glove.
Alvarado had filed for $3.7 million and the Phillies for $3.2 million when teams and players exchanged proposed arbitration salaries last month.