One day before teams and players eligible for salary arbitration were set to exchange figures, the Phillies reached one-year contracts with Ranger Suarez, Jeff Hoffman, Edmundo Sosa and Gregory Soto.
According to reports, Suarez will earn $5.05 million in 2024, Soto $5 million, Hoffman $2.2 million and Sosa $1.7 million.
The one player they did not reach an agreement with was third baseman Alec Bohm. The Phillies will exchange salary arbitration figures with him. Both sides submit a figure for the upcoming season and a hearing is scheduled for between January 29 and February 16.
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A deal with Bohm can still be worked out in the interim, but if no agreement is reached by the time of the hearing, a panel of arbitrators listens to each side's case and then selects one of the two figures as the player's salary for the upcoming season.
MLBTradeRumors' Matt Swartz projects Bohm to earn $4.3 million in his first of three arbitration years.
This was Suarez' second of three arbitration years. He earned $2.95 million last season. Next season, 2025, will be Suarez' last under team control. He represents a huge win for the Phillies' international scouting department, a $25,000 signing in 2012 who has not only risen all the way to the major leagues but become a key part of playoff rotations. Suarez has broken out over the last three seasons with a 3.19 ERA in 386⅓ innings. He has a gaudy 1.62 ERA and 0.90 WHIP in 33⅓ postseason innings and has pitched well in all six series. On such a high-priced team, his presence and production has been crucial.
Soto is also under team control through the end of the 2025 season and Sosa through the end of 2026.
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It was the final arbitration year for Hoffman, who established himself in 2023, his eighth big-league season, as a late-inning relief weapon with improved command and a slider hitters struggled to square up. Hoffman posted a 2.41 ERA and 0.92 WHIP in 54 appearances, a career year that began with his release by the Twins out of spring training.
The Phillies avoided arbitration earlier this offseason by signing three others — Jake Cave ($1M), Garrett Stubbs ($850K) and Dylan Covey ($850K) — to one-year contracts.