The Philadelphia Phillies and left-hander Jesús Luzardo agreed to a five-year extension, the club announced Tuesday.
The deal is worth $135 million and includes a $32.5-million team option with a $2-million escalator for every year Luzardo finishes top five in Cy Young voting, maxing out at $42.5 million, according to Robert Murray of FanSided.
There are no deferrals in Luzardo's extension, a source told Mark Feinsand of MLB.com.
Luzardo, 28, could've tested free agency following the 2026 season. His new deal will start in 2027.
The contract's $27-million average annual value will put Luzardo among the highest-paid southpaws in baseball.
$27M AAV for Luzardo
— Jon Heyman (@JonHeyman) March 9, 2026
Top lefty AAVs in game
Framber ($38.33M)
Snell ($30.01 NPV Union Calculation)
Crochet ($28.33M)
Fried ($27.25M)
Luzardo ($27M)/Sale ($27M)
The pitcher also gets a $1-million assignment bonus each time he's traded until he earns 10-and-5 rights, reports Jon Heyman of MLB Network.
Luzardo went 15-7 with a 3.92 ERA, 2.90 FIP, and 10.6 K/9 over a career-high 183 2/3 innings (32 starts) en route to finishing seventh in 2025 NL Cy Young voting.
The Phillies acquired him in a December 2024 trade with the Miami Marlins.
