3 players the Phillies absolutely need to extend through their arbitration years
The Phillies have eight players eligible for arbitration this offseason. There are three key pieces that the club should consider signing through their remaining arbitration years.
The Philadelphia Phillies will have quite a few decisions to make this coming offseason. While decisions such as re-signing Aaron Nola and Rhys Hoskins may be at the forefront of many fans' minds, deciding how to handle players eligible for arbitration is important too.
The Phillies have eight players who are arbitration-eligible heading into 2024. Some of those players will be offered contracts while others will be non-tendered. The club should consider attempting to sign some of these pieces to longer-term deals that would buy out their remaining arbitration years and perhaps some early free agency years.
In case you missed it, our Offseason Primer outlines all things Phillies for the offseason, including projected payroll, free agents, offseason needs, and Rule 5 players.
One prime example of how this could work is Nola, who signed a four-year deal in 2019, bypassing many of his arbitration years. José Alvarado signed a two-year extension one week after settling his arbitration case last offseason. The move bought out the left-hander's final arbitration year and his first year of free agency, likely saving the club money. The Phillies made a similar move with Seranthony Domínguez last offseason, signing him to a two-year deal with a club option for 2025.
By signing players through their arbitration years and free agent years, the Phillies can save themselves some money while controlling their players long-term. Players often prefer long-term deals as well. It shows the team has confidence in them and takes away the distraction of their next contract.
So, who should the Phillies offer long-term deals to this offseason?
Jeff Hoffman
Hoffman was an invaluable piece of the Phillies' bullpen this season. The former first-round pick has had an inconsistent career, however, and has bounced around from team to team. He has a career 5.26 ERA and was signed to a minor league deal by the Phillies in April of 2023. A month later, Hoffman had the choice to opt out of his deal and seek a major league contract elsewhere if the Phillies did not add him to the 26-man roster. They did, and it worked out well for both parties.
The hard-throwing right-hander had a career year in 2023. Over 52 1/3 innings, Hoffman posted a 2.41 ERA and struck out 69 hitters. So why should the Phillies take a chance on a guy who has really only had a flash of success in the big leagues?
The biggest reason is the increase in velocity that Hoffman displayed in 2023. He added about 3 mph on his four-seamer from last season. The 30-year-old attributed his higher velocity to his recent success, per Matt Gelb of The Athletic.
“The sharpness of the breaking ball, that all comes with added velocity too,” Hoffman said. "When you add velocity, you’re spinning it better. When you spin it better, the seams can grab better.”
If Hoffman can maintain his newfound velocity, he'll likely continue to pitch quality innings. The Phillies relied on him for much of the season and the postseason. The Phillies' reliever has accrued just over five years of MLB service time. He has one more year of arbitration and then would become a free agent after the 2024 season.
Hoffman made $1.3 million in 2023 and will likely see a raise to somewhere in the $2-3 million range for next season. If he performs well, he'll become that much more expensive as he hits free agency.
The Phillies could offer Hoffman a two-year deal that pays around $4-5 million per year. It would be a bit of an overpay for 2024, but could be a bargain for 2025.
Ranger Suárez
Suárez has been one of the Phillies' more reliable players for the better part of three seasons now. He was signed as a teenager out of Venezuela in 2012. The left-hander made his MLB debut in 2018 and has been a versatile member of the club since then.
Over his MLB career, the left-hander has a 3.41 ERA and has already pitched in some huge spots for the Phillies. He has been a postseason hero for the club the past two seasons as well, pitching in relief as well as starting games. His value to the club cannot be understated given the uncertainty of the rotation heading into 2024.
With just over four years of MLB service time, the 28-year-old pitcher still has two arbitration years left before becoming a free agent in 2026 — his age-30 season. Suárez is projected to make around $5 million in 2024. The Phillies should consider signing him to a deal similar to Nola's in 2019. The two are somewhat comparable in some ways. Nola is entering his free agent season at the same age that Suárez would. Both have similar track records at their age 28 seasons.
With the lack of starting pitching around Major League Baseball, it is imperative that the Phillies lock up their best left-handed starter prior to him becoming a free agent. If the club can sign Suárez to a four-year deal worth around $50 million, it would keep him in Phillies' pinstripes until the 2028 season. It would buy out his final two arbitration years — giving him a well-deserved raise — and buy out his first two years of free agency.
The contract would offer the native Venezuelan a hefty paycheck compared to what he is projected to make via arbitration and would be club-friendly after the 2025 season. It should be a no-brainer for Dave Dombrowski and company to find a way to sign Suárez and keep him as a part of this Phillies rotation.
Alec Bohm
Bohm is entering his first arbitration year. He was the Phillies' first-round pick in 2018 out of Wichita State. He was projected as a strong hitter, but scouts noted that his defense could be suspect. The 27-year-old's career in Philadelphia has been full of ups and downs to this point. There have been notable issues with Bohm's defense in the past, but in 2023, the young infielder improved not just at his primary position, but also at first base.
This season, Bohm hit a career-high 20 home runs and knocked in 97 runs — the most in any one season of his career. While he scuffled a bit in the postseason, his value to the club is notable. His ability to play both first and third base gives the Phillies options when structuring their defense. Bohm also had the twelfth-highest OPS of all MLB third basemen in 2023.
The Phillies' infielder made just $748,000 last season. For reference, both Edmundo Sosa and the Phillies' first-round pick in 2023, Aidan Miller, made more in salary and signing bonuses than Bohm did. He's due for a big raise, given his productivity.
MLB Trade Rumors predicts that the third baseman will make $4.3 million in his first year of arbitration. That figure seems more than fair for the fourth-year player.
The club could opt to sign Bohm to a four-year deal that would take Bohm through arbitration and through one year of free agency to keep his salary manageable. The Phillies could structure a deal in which Bohm makes less per year in the early parts of his contract, and the figure would increase toward the end of the deal. This would help keep payroll lower while players like Kyle Schwarber and Nick Castellanos are still on the books.
At this point, the Phillies know what they have in Bohm. While he is not likely to become a top-five third baseman in baseball, he is a serviceable player who makes contributions. With players like Miller in the minor leagues, it may make sense for the Phillies to eventually move Bohm to first base full-time should they sign him to a longer deal.
More Philadelphia Phillies news and analysis
manual