The Philadelphia Phillies have signed left-handed reliever Jose Alvarado to a 3-year contract extension. Alvarado will make $9 million in both the 2024, 2025 MLB seasons while a 2026 option is also for $9 million or a $500,000 buyout.
Breakdown of Alvarado’s contract:
- Signing Bonus: $50k
- 2023: $3.45M
- 2024: $9M
- 2025: $9M
- 2026 club option: $9M / buyout $500k
Alvarado, 27, posted a 4-2 record with a 3.18 ERA and 81 strikeouts in 51 innings pitched last season.
Alvarado was acquired by the Philadelphia Phillies in a trade with the Tampa Bay Rays in December 2020.
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Jose Alvarado projected stats for the 2023 MLB Season