It finally happened! With the MLB Winter Meetings heading into Day 2, the Philadelphia Phillies finally announced the massive news that fans have been anxiously awaiting. According to reports, the Phillies have re-signed free agent Kyle Schwarber.
As ESPN's Jeff Passan broke late Tuesday morning, the Phillies and Schwarber are reportedly agreeing to a five-year contract worth $150 million. At this time, the full details of the new contract and whether any deferrals are included are unknown.
It felt like this was the move that was going to happen for the Phillies eventually, but until it actually did, doubt lingered. Since the beginning of the offseason president of baseball operations Dave Dombrowski has told everyone that re-signing Schwarber was the team’s highest priority. While there were worries that the two sides had very different timelines for getting a deal done and were recently far apart in negotiations, that's obviously not a problem now.
Phillies re-sign Kyle Schwarber to massive contract that everyone wanted to see
Schwarber signed his original deal, a four-year, $79 million contract, with the Phillies ahead of the 2022 season. His continued improvement as a left-handed slugging designated hitter culminated in a career season in 2025 that saw him finish second in NL MVP voting.
Schwarber hit .240 with a .928 OPS, led the National League with 56 home runs had an MLB-leading 132 RBIs in 162 games. The 56 home runs fell just two shy of the Phillies franchise single-season record of 58 set by Ryan Howard in 2006.
Aside from carrying the Phillies offense all season and being a massively popular fan favorite, Schwarber’s veteran presence and leadership in the clubhouse were major intangible reasons for the Phillies to shell out this money. Even though Schwarber will be 33 before Opening Day, everyone in Philadelphia wanted him back, from the front office to his teammates to the majority of fans.
Top Plays of 2025: No. 10
— MLB (@MLB) December 1, 2025
Kyle Schwarber becomes the 21st player in MLB history to hit 4 home runs in one game! pic.twitter.com/4FPy12NbEI
There were plenty of other rumored suitors. The Phillies had to fend off the Baltimore Orioles, his former team the Boston Red Sox, his childhood team the Cincinnati Reds, the rival New York Mets and the surprising Pittsburgh Pirates, to name a few.
But none of that matters now. Schwarber will likely be a Phillie until he retires.
In his four seasons in Philadelphia, Schwarber has hit 187 home runs, the second most in the majors over that time. He has a .226 batting average and an .856 OPS as a Phillie with 434 RBIs in 627 games.
With an average annual salary of $30 million, Schwarber’s new contract makes him the second-highest-paid Phillies player per season behind Zack Wheeler's $42 million salary. Regardless of what the Phillies' final payroll looks like, this is a move that everyone knew had to happen for the Phillies to keep their current contention window open with the veteran core.