Jose Alvarado will return to the Phillies bullpen in 2026. In the final hours before teams must decide whether to pick up a player’s option or allow him to become a free agent, the Phillies announced that they have elected to pick up the $9-million option on the contract to keep Alvarez in Philadelphia for at least one more season. Alvarado was also paid $9-million in 2025 as part of a three-year, $22-million extension he signed with the Phillies to avoid arbitration in February, 2023.

The 30-year-old lefty was 4-2 with a 3.81 ERA and seven saves in 2025. His availability was limited due to an 80 game suspension for violating the league substance abuse policy for PEDs. As a further penalty he was deemed ineligible for the postseason roster. Over nine major league seasons with Tampa Bay and the Phillies, Alvarado has a 3.47 ERA in 407 relief outings with 52 saves in 69 opportunities.

The Phillies acquired Alvarado in December of 2020 in a three-team deal with the Rays and Dodgers. The Phillies gave up Garrett Cleavinger in the deal.

Earlier in the day, Harrison Bader, who was acquired by the Phillies from Minnesota at the trade deadline, chose to opt-out of his side of the mutual option that was included in his contract. Had both he and the Phillies decided to pick up the option, Bader would have been paid $10-million for the ’26 season, below his market value.