PHILADELPHIA, PA — The Phillies have resigned their franchise catcher J.T. Realmuto to a three year contract worth $45 million, according to multiple news sources, bringing to an end months of negotiations that held the immediate direction and strategy of the franchise in a suspended state.
The signing was first reported by Ken Rosenthal and Matt Gelb of The Athletic and later confirmed by Bob Nightengale of USA Today.
The news came just moments after their arch rivals, the New York Mets, announced they had signed infielder Bo Bichette to a massive three year, $126 million deal. The Phillies had been connected to Bichette over the past week after meeting with him on Monday, and the two sides expressed strong interest in each other.
The Mets, however, had just lost out on the sweepstakes for the other top available free agent, Kyle Tucker, to the Los Angeles Dodgers. Tucker signed an absurd four year, $240 million deal in LA. The Mets had offered four years and $220, and immediately pivoted and used that money to sign Bichette, even though he's a less perfect fit in an already crowded infield in Queens.
Twisting the dagger, Nightengale further adds that the Phillies had a 7 year, $200 million contract agreement in place with Bichette late Thursday night before the Tucker deal. It appears the Tucker signing incentivized the Mets to go big on Bichette, and possibly incentivized Bichette to bet on himself on a shorter term deal.
The Phillies immediately turned back to Realmuto, as they have little interest in anyone else left on the market this winter.
The contracts for Tucker and Bichette are stunning in part because they award very good players, players in the top 20 or 30 of the league, more money annually than the game's elite. Tucker's $57 million per year and Bichette's $42 million per year are more than better players like Aaron Judge, Bryce Harper, and Trea Turner make.
But because the contracts are so short, they allow teams to avoid the long relationships that stars typically demand. Bichette and Tucker will still be in their prime years, their early 30s, when the deals expire.
The Phillies pivot to Realmuto, who is 34 but will be 35 on opening day, will keep their catcher in town through his age 37 season. It's the second contract he's signed with the Phillies since he was acquired from the Miami Marlins in a Feb. 2019 trade.
That deal proved to be a huge win for the Phillies, as the prospects they gave to Miami did not pan out, and Realmuto established himself as the most consistent and perhaps the best catcher in baseball for years to come. He was resigned to a record-setting five-year contract ahead of the 2021 season. During his Phillies tenure, he's been named to two All-Star teams, finished as high as 7th in MVP voting, and been a critical part of a core that has made four straight playoff appearances, won two NL East titles, and won the National League pennant in 2022.
Realmuto may not be the best catcher in baseball anymore, and he has shown signs of decline in his bat over the past few seasons. However, he remains a very good baserunner, a good pitch framer, and still has one of the best arms in the league. His pop time (measured as how quickly he throws out runners stealing a base) remains elite. Perhaps mostly importantly, he has developed an excellent relationship with the Phillies star pitching staff.
He was also by far the best catching option available to the Phillies in either free agency or the trade market. Without Realmuto, the Phillies would have entered a season of World Series aspirations with unproven backup Rafael Marchan and part-timer Garrett Stubbs as their only options.
It had been believed that the money the Phils used to sign Realmuto could have been redirected to sign Bichette, but it likely would've required the Phillies to both lose Realmuto and to trade third baseman Alec Bohm to free up the necessary salary space.
Still, many analysts believed the Phillies were the most likely destination for Bichette up until Friday morning, and indeed, a deal was in place overnight until the fallout from the Tucker signing changed everything.
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