The Phillies have begun extension negotiations with Zack Wheeler’s camp in Wasserman, the star told reporters (link via Matt Gelb of The Athletic). Negotiations are at an early stage and there is no indication that a deal is imminent.Philadelphia has made no secret of its desire to keep Wheeler beyond the 2024 season. MLB.com’s Todd Zolecki wrote in December that the Phils have made an extension a priority. Director of baseball operations Dave Dombrowski confirmed as much last week.Wheeler, who turns 34 in May
is entering the final season of a five-year free agent contract. The club’s $118 million investment in the 2019-20 season was one of the best free agent signings in recent years. Wheeler has a 3.06 ERA in his first four seasons in Philadelphia. He was on the Cy Young ballot for three of them, including the 2021 runner-up. Only Gerrit Cole, Sandy Alcántara and teammate Aaron Nola have thrown more passes since the start of 2020.The former #6 overall pick didn’t show much sign of slowing down a year ago. Wheeler made 32 starts with a full slate and worked 192 innings. While his 3.61 ERA was his highest as a Phillie,
it partly reflects the growth of the offense of the league. Wheeler’s 26.9 percent completion rate matches his performance last season. He walked just 5% of opponents, ranking 13th in MLB in innings pitched. Wheeler produced swinging strikes on a career-best 13.3 percent of his pitches and averaged 95.9 mph with a four-seam fastball.Wheeler’s contract is worth $23.5 million for next season. A continuation would certainly lead to higher annual wages in 2025 and beyond. Long stretches for a pitcher in his 30s are rare, as you might expect. Over the past five seasons, Yu Darvish is the only starter 33 or older to sign a contract extension of at least three years. Last February, the Padres signed Darvish to a surprise five-year, $90 million contract that covers his 37-
41 seasons.That’s not a good comparison for Wheeler, who is three years younger than San Diego’s right-hander at the time. The extension would take effect during his 35-year campaign. As MLBTR’s contract tracker shows, two pitchers — Max Scherzer and former teammate Jacob deGrom — signed nine-figure free agent contracts at that age. deGrom, 35, received a five-year, $185 million guarantee from the Rangers last winter. Scherzer received a three-year, $130 million contract from the Mets that covers his age 37-39 campaigns on November 21. The average annual value of $43.333 million was a record at the time; it is now tied for second behind Justin Verlander and Shohei Ohtani.Wheeler hasn’t reached the level of dominance that deGrom and Scherzer have shown in their primes. However, he has a much better record than deGrom and is a few years younger than Scherzer was when he signed with New York.
Those pitchers had the advantage of being an open offer. Wheeler doesn’t have that in negotiations with Philadelphia, but signing him early would likely yield something close to free agent prices.”I want to be paid [based on] how I did what they want me to do,” he told reporters (including Scott Lauber of the Philadelphia Inquirer). “It’s not about the money for me either. I took less to get here and to be in a good place and to be happy and for my family to be happy.
I want to – what’s the right word? – I want what I feel I deserve. … Market value. Please.”Wheeler has a strong case for a four-year contract that is nine figures. He has a better record than Sonny Gray and Chris Bassitt, who both signed three-year deals spanning their 34. 36 campaigns. Gray received $75. million from the Cardinals this winter, while Bassitt signed a $63 million deal with the Blue Jays a year ago.The Phillies haven’t been shy about making long-term commitments, even though no one makes more than $28 million a year. Every Trea Turner, Bryce Harper, Nola, J.T. Realmuto, Nick Castellanos,
Kyle Schwarber and Taijuan Walker are due at least $18 million per season after next year. Turner, Harper, Nola, Castellanos and Walker are under contract until at least 2026.Roster Resource estimates the organization’s 2025 payroll to be approximately $171 million; they have about $187 million in luxury tax liabilities. The base tax threshold for the 25th season is $241 million. Extending Wheeler would likely push their tax number above $215 million,
perhaps north of $220 million. They are expected to exceed the threshold for a third consecutive season in 2024, so they face maximum penalties for repeat payers in 2025 and beyond. That hasn’t been an obstacle for owner John Middleton in recent years. Extending Wheeler would only ensure they pay CBT for at least a fourth straight season in 2025.There doesn’t appear to be a hard deadline for the deal. Wheeler offered to be open to continued negotiations after Opening Day, but said he would take “hands off” negotiations between the team and agents..
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