The Philadelphia Phillies are gearing up for an offseason that could have significant financial implications, especially when it comes to retaining two of their star relievers. As the 2024 MLB season approaches, the Phillies are staring down the reality of an expensive price tag if they hope to keep both pitchers in their bullpen.
Relievers on the Rise
The two relievers in question—Seranthony Domínguez and José Alvarado—have been instrumental in the Phillies’ success in recent seasons. Domínguez, a homegrown talent with electric stuff, and Alvarado, a hard-throwing lefty acquired via trade, form one of the most fearsome late-game duos in baseball. Both have been critical to the Phillies’ ability to close out games, but their individual performances have also boosted their market value to new heights, making this offseason a tricky one for the front office.
Seranthony Domínguez: The Phillies’ Homegrown Star
Domínguez, at just 29 years old, has developed into one of the most reliable arms in the Phillies’ bullpen. Signed out of the Dominican Republic in 2011, he’s risen through the ranks of the organization, overcoming injuries along the way to solidify his role as the team’s go-to reliever in high-leverage situations.
With a fastball that routinely hits 98-100 mph and a devastating slider, Domínguez has been a cornerstone for the Phillies, especially during their 2022 postseason run. He showed flashes of brilliance during that stretch, recording 7 saves with a 1.67 ERA over the postseason. His ability to dominate in the most crucial moments has made him a highly-coveted asset.
However, this success comes with a price. Entering arbitration for the 2024 season, Domínguez is expected to command a significant salary bump. His camp will be looking for a deal that rewards his recent performances while also ensuring security for the player. This could mean a long-term contract extension that eats into the Phillies’ payroll over the next few seasons.
José Alvarado: The Dominant Lefty Power Arm
Alvarado, who was acquired from the Tampa Bay Rays before the 2021 season, has also made a name for himself in the Phillies’ bullpen. The big left-hander, known for his fiery intensity and a sinker that averages 99 mph, has quickly become one of the most feared relievers in the game. Alvarado’s devastating mix of velocity and movement makes him a nightmare for left-handed and right-handed hitters alike.
Alvarado, however, is not without his issues. His command has been a concern at times, with stretches of wildness that put unnecessary pressure on himself and the defense. Despite these occasional struggles, Alvarado’s potential is undeniable. When he’s on, he can single-handedly shut down opposing lineups. His value to the Phillies is obvious—having a dominant left-handed reliever is a luxury in today’s game, and Alvarado fits that bill perfectly.
Like Domínguez, Alvarado is arbitration-eligible, and his strong performances in 2023 have raised his asking price significantly. Keeping Alvarado around won’t be cheap, especially if the Phillies are interested in locking him up with a multi-year deal to avoid future arbitration battles. A high-leverage lefty like Alvarado can easily command upwards of $8-10 million per year in today’s market.
The Financial Reality
The Phillies, led by President of Baseball Operations Dave Dombrowski, have not been shy about spending money. After all, this is a team that committed $330 million to Bryce Harper, $300 million to Trea Turner, and handed Zack Wheeler a five-year, $118 million deal. But even with deep pockets, the Phillies must navigate a delicate financial balance as they look to maintain the core of their team while addressing other areas of need in the offseason.
The Phillies’ payroll for 2024 is already projected to be one of the highest in baseball, and keeping both Domínguez and Alvarado would add another substantial chunk to that total. Dombrowski has shown a willingness to spend on quality pitching, but committing significant long-term money to relievers—who can be notoriously volatile—always comes with a level of risk.
Additionally, the Phillies need to consider the long-term outlook of their bullpen. Young arms like Orion Kerkering and Andrew Baker are coming up through the system and could be ready to contribute in the near future. If the Phillies believe they can develop internal replacements for Domínguez or Alvarado, they may choose to let one of them walk in free agency rather than paying top dollar for both.
Competing in the Free-Agent Market
If the Phillies decide to retain both relievers, they’ll be competing against other teams with deep pockets. Elite relievers have become highly sought-after commodities in recent years, as teams recognize the value of a shutdown bullpen in the postseason. Domínguez and Alvarado are both likely to draw interest from contenders looking to bolster their relief corps, and their agents will use this to their advantage in negotiations.
For example, teams like the Los Angeles Dodgers, New York Yankees, and Houston Astros are always in the market for top-tier bullpen arms. All of these clubs have both the need and the financial capacity to outbid the Phillies if necessary, driving up the price for both relievers.
The Alternatives
If the Phillies are unable—or unwilling—to meet the demands of both Domínguez and Alvarado, they may have to explore other options. One potential strategy is to trade one of the two relievers while their value is high. This would allow the Phillies to acquire young talent or address other areas of need, such as their outfield or starting rotation.
Alternatively, the Phillies could focus on developing their internal bullpen options. In addition to Kerkering and Baker, other prospects like Ben Brown and McKinley Moore could be in line for larger roles in 2024. This would give the team some financial flexibility to address other parts of the roster while still maintaining a strong bullpen.
Conclusion: A High-Stakes Offseason
As the 2024 offseason looms, the Phillies find themselves at a crossroads. Domínguez and Alvarado have been instrumental to their recent success, but keeping both around will come at a steep price. Whether the Phillies decide to open up the checkbook or explore alternative options, one thing is certain: this offseason will play a crucial role in shaping the future of their bullpen and their aspirations for another deep postseason run.
