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
PHILADELPHIA, PENNSYLVANIA – OCTOBER 16: Zack Wheeler #45 of the Philadelphia Phillies pitches in the first inning against the Arizona Diamondbacks during Game One of the Championship Series at Citizens Bank Park on October 16, 2023 in Philadelphia, Pennsylvania. Tim Nwachukwu/Getty Images
PHOENIX, ARIZONA: Zack Wheeler #45 of the Philadelphia Phillies throws a pitch against the Arizona Diamondbacks during the first inning in Game Five of the National League Championship Series at Chase Field on October 21, 2023 in Phoenix, Arizona. (Photo by Norm Hall/Getty Images)
PHILADELPHIA, PENNSYLVANIA: Zack Wheeler #45 of the Philadelphia Phillies pitches during the fourth inning against the Pittsburgh Pirates at Citizens Bank Park on September 28, 2023 in Philadelphia, Pennsylvania. (Photo by Tim Nwachukwu/Getty Images)
PHILADELPHIA, PENNSYLVANIA: Zack Wheeler #45 of the Philadelphia Phillies walks to the dugout during the fifth inning against the San Diego Padres in game five of the National League Championship Series at Citizens Bank Park on October 23, 2022 in Philadelphia, Pennsylvania. (Photo by Mike Ehrmann/Getty Images)
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.
PHILADELPHIA, PENNSYLVANIA – OCTOBER 23: Aaron Nola #27 of the Philadelphia Phillies pitches in the first inning against the Arizona Diamondbacks during Game Six of the Championship Series at Citizens Bank Park on October 23, 2023 in Philadelphia, Pennsylvania. Elsa/Getty Images
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.
PHOENIX, ARIZONA – OCTOBER 21: Kyle Schwarber #12 of the Philadelphia Phillies celebrates with J.T. Realmuto #10 after scoring a run off of a single by Bryson Stott #5 against the Arizona Diamondbacks during the first inning in Game Five of the National League Championship Series at Chase Field on October 21, 2023 in Phoenix, Arizona. Harry How/Getty Images
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.