The Phillies had their eyes on Bo Bichette. The fit made sense, the buzz was real, and the momentum seemed to be building. But when the dust settled, Bichette chose the New York Mets, leaving Philadelphia scrambling for a backup plan.
That pivot came in the form of a three-year, $45 million extension for J.T. Realmuto-a move that raised eyebrows at the time and now, just weeks later, is under even more scrutiny.
According to The Shredder rankings from MLB Now, Realmuto didn’t crack the list of the top 10 catchers in baseball heading into 2026. That’s a telling omission for a player who’s now earning $15 million annually-more than all but one catcher in the league.
The only backstop making more? Cal Raleigh, widely regarded as the best in the game, who’s commanding $17.5 million per year.
So where does that leave the Phillies? Paying premium money for a veteran catcher who’s no longer considered elite by league evaluators. That’s a tough pill to swallow, especially for a franchise that’s trying to maximize its competitive window.
Realmuto, who turns 35 at the start of the season, has been a cornerstone for Philly in recent years. He’s earned his reputation as one of the game’s most complete catchers-strong behind the plate, capable with the bat, and a trusted voice in the pitching room.
But the signs of decline are there. Both his offensive production and defensive metrics have taken a step back, and while his leadership and pitch-calling still carry value, it’s hard to justify the price tag strictly on intangibles.
This isn’t a one-year flyer or a short-term bridge deal. This is a three-year commitment that runs through Realmuto’s age-38 season.
And that’s where the real concern lies. The Phillies have already seen how long-term deals for veterans can age poorly-just look at their current situations with Taijuan Walker and Nick Castellanos.
The fear is that Realmuto could be the next name added to that list.
It’s not that Realmuto can’t still contribute. He’s a pro’s pro, and there’s every chance he’ll have stretches of solid production.
But when the market says you’re not a top-10 catcher and your salary says otherwise, the math just doesn’t add up. The Phillies are paying for past performance, not future value.
Ultimately, this deal feels like a reaction to missing out on Bichette-an attempt to secure a known quantity in the wake of a high-profile miss. But in doing so, Philadelphia may have locked itself into another aging contract that limits flexibility down the line. Realmuto has been a fan favorite and a clubhouse leader, but at this stage in his career, $15 million a year is a steep price for nostalgia.