Phillies' Zack Wheeler makes MLB history with 3-year contract extension

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Philadelphia Phillies veteran starter Zack Wheeler didn’t wait until next year’s free agency period to cash in on a new contract. 

Wheeler is staying in the City of Brotherly Love after inking a three-year deal worth $126 million, which kicks in during the 2025 season. 

Wheeler is set to make $23.5 million for the 2024 campaign.

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Zack Wheeler of the Philadelphia Phillies has signed a three-year deal worth $126 million. (Carmen Mandato/Getty Images/File)

The 33-year-old, who pitched to a 3.61 ERA last season, explained why he took a short-term deal with the Phillies as he looks ahead to life after baseball.

"I do enjoy pitching and I want to be here," Wheeler said during a news conference on Monday at the Phillies’ spring home, BayCare Ballpark. "I love competing. But I don’t want to play until I’m old-old. And I want to be around my family. But I’m definitely enjoying the moment here, enjoying every moment I take the mound. It’s special, and not everybody gets to do it. Not everybody gets to do it as long as I have. I’m grateful for that."

Wheeler’s $42 million per year that he will earn starting next season is the largest contract extension in MLB history.

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Compared to other veteran pitchers in MLB, Wheeler’s price tag in 2025 is the third-highest average annual value for a pitcher, with Max Scherzer and Justin Verlander ahead of him. It is also the fourth-highest of any player in MLB, the top spot going to Los Angeles Dodgers Japanese superstar Shohei Ohtani after he signed a $700 million