A season away from testing the free agent market, left-hander Jesús Luzardo is instead putting down roots in Philadelphia. Per numerous reports on Monday, he and the Phillies have agreed to a five-year, $135 million contract extension. By average annual value, Luzardo is now tied for the fifth-highest-paid lefty in Major League Baseball. The deal takes effect in 2027 and includes a 2032 club option.

Luzardo spent parts of four seasons with the Miami Marlins (2021-2024), making 74 starts and posting a 4.15 ERA and 3.78 FIP. During his age-27 campaign in Philly, he set career-highs with 183 ⅔ innings pitched and 216 strikeouts while earn down-ballot Cy Young votes for the first time.

Although born in Peru, Luzardo spent most of his childhood in South Florida and grew up as a Marlins fan. Two years ago, he spoke openly about wanting to stay with the Fish long term. But the Peter Bendix-led front office never made a formal extension offer to him, as far as Fish On First can tell.

Luzardo’s situation is somewhat reminiscent of J.T. Realmuto‘s. The standout catcher was traded from Miami to Philly in 2019 when, like Luzardo, he had two remaining years of club control. Realmuto elected free agency after the 2020 season, but re-signed with the club on a $115.5M deal. He remains with the Phils to this day. Meanwhile, each of the other players involved in that trade—Sixto Sánchez, Jorge Alfaro and Will Stewart—are long gone from the Marlins.

In exchange for Luzardo, the Marlins received infielder Starlyn Caba and outfielder Emaarion Boyd.

Ranked eighth on our FOF Top 30 list, Caba is an excellent defensive shortstop with an advanced plate approach, but very limited power (five home runs in 186 career professional games). He’s unlikely to be contribute at the major league level until 2028. Boyd (unranked) slashed .241/.337/.330 with 51 stolen bases in 101 minor league games last season.

Luzardo made four starts against the Fish in 2025. He had a 2.52 ERA, racking up 29 strikeouts in 25 innings.

The first Marlins-Phillies series of 2026 will be at loanDepot park from May 1-4.