Since the disappointing conclusion of the 2023 MLB season, the Philadelphia Phillies have expressed their desire to sign starting pitcher Zack Wheeler to a contract extension. In turn, Wheeler expressed his desire to remain in Philadelphia and receive a much-deserved raise. Both sides accomplished their objectives on Monday.
Wheeler, 33, and the Phillies have agreed to a 3-year/$126 million contract extension. The deal will keep Wheeler in Philadelphia through the 2027 MLB season and does not include any opt outs.
The $42 million annual average value of the contract extension is the richest contract extension based on AAV in baseball history. Moreover, the contract extension is extremely team friendly. Unlike traditional contract extensions which override some of a players existing contract, Wheeler’s extension will not kick in until after the 2024 MLB season.
This will allow the Phillies to pay Wheeler the final year of his original contract signed with the team, a 5-year/$118 million signed prior to the 2020 MLB season. That means Wheeler will only be paid $23.5 million for the 2024 MLB season. The lower AAV for 2024 allows the Phillies to avoid more competitive balance tax payments and allow for flexibility to sign other free agents or assume payroll at the trade deadline.
Wheeler has been the ace of the Phillies’ pitching staff since his arrival prior to 2020 compiling a 43-25 record with a 3.06 ERA, 675 K’s, and a 1.055 WHIP in 629.1 innings pitched. A 2021 National League All-Star representative, Wheeler finished as a finalist for the Cy Young Award that same season.
As impressive as his regular season stats have been, Wheeler’s postseason stats have been more impressive.
Wheeler is 4-3 with a 2.42 ERA, 68 K’s, and a 0.726 WHIP in 11 playoff starts for the Phillies including an incredible 3-0 with a 1.63 ERA in five National League Championship Series starts. Now if the bats had only done their jobs…
Wheeler and the Phillies begin their quest for a third consecutive postseason appearance on Thursday, March 28 at 3:05 PM from what is sure to be a raucous Citizens Bank Park against the Atlanta Braves.
