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.

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.

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.

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.

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