The Philadelphia Phillies and star pitcher Zack Wheeler have agreed to a three-year, $126 million extension, the most expensive pitcher extension in league history by average annual value, according to ESPN.
Wheeler would have become a free agent following the 2024 season after signing a five-year, $118 million deal with Philly in 2020. Instead, the Phillies lock up the 2021 All-Star until after the 2027 season.
Zack Wheeler and the Phillies have agreed to a multi-year extension. Wheeler would have been the No. 1 pitcher free agent next fall, but instead, he stays in Philly. By season’s end, he will also accumulate 10-5 rights, and with that the power to veto any trade. Announcement…
— Buster Olney (@Buster_ESPN) March 4, 2024
The $42 million per year is quite the pay bump from his previous $26 million. (RELATED: MLB Team Ends $1 Hot Dog Nights Because Fans Simply Cannot Act Civilized)
Zack Wheeler Highlights
It’s a huge bet for the Phillies. While Wheeler is undeniably great, his deal is the second massive contract the team has given to a starting pitcher, handing rotation-mate Aaron Nola a whopping seven-year, $172 million contract in November. They’ve now dedicated about $300 million to two players who will only play in forty percent of their games.
Philly looks to be strong next season, retaining the vast majority of a core that made it to the National League Championship Series (NLCS) before being bounced by the Arizona Diamondbacks.
They’ll bring back their entire starting lineup and add super-utility man Whit Merrifield in free agency. They will likely be very good next year, but this decision could hamstring them beyond 2024. By 2026, some of their key pieces will be free agents, including catcher J.T. Realmuto and 2022 NL home run leader Kyle Schwarber.
If Philly doesn’t manage to capture their elusive title this year or next, these massive investments in starting pitching could come back to bite them. As a Mets fan, I’m sincerely hoping that’s the case.