Phillies

Phillies Reportedly Agree to Five-Year Extension With Jesus Luzardo

By Luke Arcaini

Published: Mar 9th, 2026 · 7:10 PM EDT

---

Jesus Luzardo and the Phillies agreed to a five-year contract extension worth $135M, according to multiple reports:

BREAKING: Left-hander Jesús Luzardo and the Philadelphia Phillies are in agreement on a five-year contract extension, sources tell ESPN. Luzardo, 28, was set to become a free agent after this season. The new deal will begin in 2027 and locks up one of baseball’s best young arms.

— Jeff Passan (@JeffPassan) March 9, 2026

Jesus Luzardo gets 5 year, 135 million extension with Phillies. Good deal by Phils to retain top lefty and Roc Nation reps Roger Tomas and Brodie Van Wagenen.

— Jim Salisbury (@JimSalisbury215) March 9, 2026

Luzardo is set to make $11M in arbitration this year and was set to hit the free agent market after the 2026 season. The Phillies elected to lock down their #2 lefty, rather than gamble on a negotiation process during a potential lockout.

It was a great 2025 season for Luzardo, who posted 32 starts for just the second time in his 7-year major league career. The southpaw posted a 3.92 ERA over 183.2 innings, which was a career high. Luzardo struck out 216 batters and threw some crucial postseason innings.

Luzardo has dealt with injury throughout his career. When the Phillies acquired him last winter, they didn’t necessarily know what version they were getting from Miami. He’s always had the stuff on the mound; it’s always just been about staying on the mound itself.

The Phillies jumping on this deal early is a smart move, and a move that Dave Dombrowski should be praised for. If Luzardo’s 2026 season is a shade of last year, I’d guess his contract next offseason would be north of $30M. Now, the Phillies lock up their #2 lefty through the 2031 season for $27M per year.

Luzardo is now the fifth-highest paid left-handed pitcher in baseball. He only trails Framber Valdez ($38.3M), Blake Snell ($30M), Garrett Crochet ($28.3M), and Max Fried ($27.25M).

There is reportedly a $2M escalator for every season that Luzardo finishes Top 5 in Cy Young, according to Robert Murray of Fansided, maxing out at $42.5M:

Left-hander Jesús Luzardo and the Philadelphia Phillies’ five-year, $135 million extension includes a $32.5 million team option and a $2 million escalator for every season he finishes top 5 in Cy Young voting, maxing out at $42.5 million.

The deal does not include his $11…

— Robert Murray (@ByRobertMurray) March 9, 2026