Philadelphia Phillies signed lefty reliever Jose Alvarado to a three-year contract extension. This deal will link Alvarado to the Phillies until the 2025 season with a option to include 2026. According to sources Alvarado will make $9 million in both the 2024 and 2025 season, while the 2026 option is also $9 million or a $500,000 buyout.

This deal includes a $100,000 bonus for winning World Series MVP or the Mariano Rivera/Trevor Hoffman reliever of the year award and $50,000 for finishing second or third for the reliever honor. He also qualify for $50,000 for making the All-Star team, winning an MVP or winning a Gold Glove.

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