Jan. 12 is the deadline for players and teams to exchange arbitration numbers, and the Philadelphia Phillies have five players to work out 2024 contracts with. Jeff Hoffman, Ranger Suárez, Edmundo Sosa, Gregory Soto, and Alec Bohm are all due for a raise before the season starts.
On Nov. 17, the Phillies tendered contracts to five of its eight arbitration-eligible players and agreed to terms with backup catcher Garrett Stubbs ($850 thousand), relief pitcher Dylan Covey ($850 thousand), and fourth outfielder Jake Cave ($1 million) for the 2024 season.
Matt Swartz from MLB Trade Rumors has released his yearly projections for arbitration numbers, and a few Phillies are likely to see a nice bump in pay this offseason. Teams and players can agree on terms before the Jan. 12 filing deadline. If not, contact terms will be decided by an independent arbitrator. Arbitration hearings will be scheduled between Jan. 29 and Feb. 16.
How much will the Phillies' arbitration eligible players make in 2024?
Alec Bohm is the only Phillies player who will make considerably more in 2024, based on Swartz's projections. The 27-year-old third baseman is arbitration eligible for the first time this offseason and is projected to earn $4.3 million next season. That's a nice increase from the $748,000 he was paid in 2023 while earning the league minimum.
Ranger Suárez is in his second year of arbitration eligibility this offseason and is again likely to see a nice bump in salary as a result. The 28-year-old left-handed starter had an up-and-down 2023 season with a 4-6 record and a 4.18 ERA.
Health was an issue at the beginning of the season, but Suárez started 22 games for the Phillies and will certainly be part of the rotation plans in 2024. Swartz projects him to earn $4.7 million in arbitration, another nice bump for a player who earned $2.9 million in 2023.
Gregory Soto is another pitcher going into his second year of arbitration. The soon-to-be 29-year-old left-handed reliever got into 69 games for the Phillies last season and figures to have a secure role in the bullpen heading into 2024.
The former Detroit Tigers closer was acquired along with Kody Clemens last January in a five-player swap. MLB Trade Rumors projects that Soto will earn $4.9 million in 2024. He earned $3.9 million last season.
Jeff Hoffman was one of the Phillies feel-good-stories in 2023. The thirty-year-old right-handed pitcher was signed in March of last season after he exercised an opt-out clause in his contract with the Minnesota Twins. The under-the-radar signing paid dividends as Hoffman emerged as one of the most reliable arms in the Phillies bullpen.
Hoffman appeared in 54 games, compiling a record of 5-2 to go along with a 2.41 ERA and 69 strikeouts in 52 1/3 innings. Swartz projects Hoffman to earn $2.1 million in his third year of arbitration eligibility. He earned $1.3 million in 2023.
Versatile utility man Edmundo Sosa is in his first year of arbitration eligibility this offseason. The 27-year-old appeared in 104 games for the Phillies in 2023. He saw extensive time at third base early in the season, with Alec Bohm shifting to first base in the absence of the injured Rhys Hoskins.
Sosa batted .251 with 10 home runs and 30 RBI, and appeared at third base, shortstop, second base, and a few games in the outfield. Sosa earned $950,000 last season, and MLB Trade Rumors projects that he will earn $1.7 million in 2024.
While these numbers are just projections, anything can happen between now and when arbitration numbers are exchanged. It's possible the Phillies will look to buy out future years of arbitration by signing one or more players to long-term deals this offseason.