UPDATE (7:42 p.m.): According to Jon Heyman of FanRag Sports, the deal has some interesting wrinkles:
The deal would pay Arrieta $30 million in 2018, $25 million in 2019, and $20 million in 2020. Arrieta can opt out after the second year of the contract. However, the Phillies can void that opt-out with an extension for 2021 and 2022. He would make, at minimum, $20 million per year. It can go up to $25 million per year based on games started, or $30 million per year based on Cy Young finishes.
So, at most, he would earn $135 million over four years. He could also only get two years and $55 million. Or he could just do the three years and $75 million, which is still the most likely scenario.
UPDATE (5:38 p.m.): Early commentary on this: If it is a three-year deal for $75 million, it’s a great move by Matt Klentak and the front office, who held out (and contributed to this offseason’s weird free-agency stalling) for their price. Arrieta’s contract won’t hamstring the Phillies’ ability to spend in the 2018-19 offseason or beyond.
Arrieta immediately upgrades the Phillies for now and the future. He gives the team their first true 1-2 punch on the mound since Cliff Lee and Cole Hamels in 2014. In a perfect world he improves the Phils by three to four wins, pushing them to around .500. With a wide margin of error thanks mostly to unproven talent, the Phillies could be a dark-horse wild card team in 2018.
If the Phils compete for the wild card, they will likely be looking to add at the trade deadline.
UPDATE (5:30 p.m.): Bob Nightengale now reports it’s a three-year deal for $75 million.
UPDATE (5:03 p.m.): Bob Nightengale reports it’s a three-year deal.
According to Jim Salisbury of NBC Sports Philadelphia, the Phillies have an agreement to a free-agent contract with pitcher Jake Arrieta. The deal is pending a physical.
We’ll have more as soon as it happens.