The Phillies 96 wins last season was their most since 2011, and the third straight year of 90+. That success couldn’t translate to the postseason however, as Philadelphia was bounced by the Dodgers in the NLDS. Philly holds some of the larger chips this offseason, with the likes of Kyle Schwarber, JT Realmuto, and Ranger Suarez all set to hit the open market.

A Bright Spot
SP Cristopher Sanchez blossomed into one of the game’s best arms, hitting career marks in every category and posting a 7.6 WAR in 2025. He’s under contract for another 5 years, $47M, which should provide Philadelphia incredible value.

A Big Concern
RF Nick Castellanos appears to have played his final game for the Phillies, one way or another. The 34-year-old is due $20M in 2026, and Philly appears prepared to eat that salary if they can’t find a trade partner this winter. He posted 5 year lows across the board last season.

Related Links
2026 Phillies Financials
MLB Offseason Guides

Pending Free Agents

Schwarber produced one of the most prolific seasons in Phillies history, and keeping him in-house will be a priority, but it’ll come at a cost. The 32-year-old projects toward a 4 year, $100M contract in our system, but a bidding war will escalate that quickly. Realmuto should be much more affordable and hold immense locker value to this franchise.

PLAYER MARKET VALUE
Ranger Suarez (SP, 30) $27M
Kyle Schwarber (DH/OF, 32) $25M
J.T. Realmuto (C, 34) $13M
Max Kepler (OF, 32) $7.6M
David Robertson (RP, 40) $6M
Jordan Romano (RP, 32) $2.8M

Option Decisions

Alvarado’s team option is very likely to be exercised, while Bader will decline his side of the mutual decision and hit free agency fresh off of his big year at the plate.

PLAYER OPTION SALARY
Jose Alvarado (RP, 30) $9M club option ($500k buyout)
Harrison Bader (OF, 31) $10M mutual option ($3M buyout)

Arbitration-Eligibility

Luzardo, Bohm, and Sosa are entering contract years, and the latter could be brought up in trade discussions as the Phillies attempt to navigate a very expensive outlook for 2026.

PLAYER OPTION SALARY
Jesús Luzardo (SP, 28) $12M
Alec Bohm (3B, 29) $10.25M
Jhoan Duran (RP, 28) $8M
Edmundo Sosa (INF, 30) $7.5M
Brandon Marsh (CF, 28) $5.5M
Bryson Stott (2B, 28) $5.5M
Tanner Banks (RP, 34) $1.25M
Garrett Stubbs (C, 33) $925k

Guaranteed Salary

Wheeler’s in recovery from thoracic outlet surgery and could be ready for Opening Day. Turner had a resurgence in 2025, while Castellanos isn’t expected back next season.

PLAYER CBT SALARY
Zack Wheeler (SP, 36) $42M
Trea Turner (SS, 33) $27.2M
Bryce Harper (1B, 33) $25.3M
Aaron Nola (SP, 33) $24.5M
Nick Castellanos (RF, 34) $20M
Taijuan Walker (SP, 33) $18M
Cristopher Sanchez (SP, 29) $5.6M

Team Tax Projections

The Phillies pushed north of $300M according to our 2025 CBT data, and are already projected to be over the $244M threshold in 2026 with just 30 players active on their 40-man roster. Will the organization be willing to swim with the Mets and Dodgers in $350M-land for an all-in season?

Spotrac's 2026 MLB Offseason Previews