The Phillies have gotten trade calls on left-handed relievers Matt Strahm, José Alvarado and Tanner Banks, reports Matt Gelb of The Athletic. Philadelphia could leverage their bullpen depth for help in a different area of the roster.
All three pitchers are affordable and above-average performers. Alvarado, who’ll make $9MM next season, is the most talented of the group. He’s the hardest-throwing lefty reliever in the game, averaging more than 99 MPH on his fastball. The 30-year-old dominated early in the season and took over the closer role until MLB suspended him for 80 games because of a failed performance-enhancing drug test. That made him ineligible for postseason play, but the Phillies welcomed Alvarado back for the end of the regular season and were confident enough in his ability to exercise a 2026 club option.
Jhoan Duran is locked into the ninth inning now. Alvarado projects as Philly’s top lefty setup arm. He’ll be eligible for the playoffs in future seasons, so it’s unlikely the Phillies are putting much stock in the PED suspension moving forward. Alvarado also finished the year on the injured list with a forearm strain but is expected to be fine going into Spring Training.
An Alvarado trade would be relatively surprising. It’s easier to see the Phils swapping one of Strahm or Banks for someone at a position of greater need. Strahm, who turned 34 on Wednesday, vested a $7.5MM salary for the upcoming season. He’s coming off a 2.74 ERA with an above-average 27.3% strikeout rate across 66 appearances. Strahm owns a 2.71 mark over three seasons in Philadelphia and led the team with 22 holds this year.
While Strahm remains a quality leverage option, the Phillies could have some concern about his trend lines. His strikeout rate dropped six percentage points relative to 2024, when he fanned a third of opponents. He averaged a career-low 92.3 MPH on his fastball and has seen his swinging strike rate dip in consecutive years.
Banks, also 34, is the least well known of the Phils’ lefty trio. He didn’t reach the big leagues until his age-30 season and spent his first couple seasons on a rebuilding White Sox team. Banks was an under-the-radar deadline pickup in 2024 and has turned in a 3.24 ERA with a league average 22.5% strikeout rate over 91 2/3 innings in Philadelphia.
His fastball sits in the low-90s, but he attacks the strike zone with a pair of breaking pitches and held lefty batters to a putrid .172/.213/.243 slash line this year. Banks has held his own against right-handed hitters as well, but he’s the kind of pitcher whom teams generally prefer in a middle relief/specialist role rather than as a true high-leverage arm. MLBTR contributor Matt Swartz projects him for a $1.2MM salary in his first of three seasons of arbitration eligibility.
Teams seeking lefty relief help don’t have many free agent options. Gregory Soto is probably in line for the largest contract. He’s a power arm but has inconsistent command and has allowed more than four earned runs per nine in each of the past three seasons. Drew Pomeranz, Caleb Thielbar, Hoby Milner, Justin Wilson, Taylor Rogers and Danny Coulombe should be limited to one-year deals based on their age. Sean Newcomb or Caleb Ferguson could command a cheap two-year deal but aren’t ideal high-leverage options. Steven Matz, Ryan Yarbrough and NPB returnees Anthony Kay and Foster Griffin are swing types.
It’s a weak group, which could lead teams to turn to the trade market. The Cardinals are likely to move former Phillie JoJo Romero, who is going into his final season of arbitration. The rebuilding Nationals could hear teams out on grounder specialist Jose A. Ferrer. The Rays are down to two years of control on Garrett Cleavinger and would surely entertain offers, but they’re going to have a huge asking price. Every contender could evaluate the bullpen market. The Blue Jays, Giants, Mariners, Diamondbacks and Cubs are among the teams that could use another left-handed arm in particular.
While the Phillies have a good group of southpaws, they could use a more reliable right-handed setup arm than Orion Kerkering in front of Duran. They’re also in the market for outfield help and potentially a depth starter/swingman with Harrison Bader and Ranger Suárez hitting free agency. They’re prioritizing re-signing Kyle Schwarber and J.T. Realmuto. They’d need to go outside the organization for a catcher if Realmuto signs elsewhere, as a Rafael Marchán/Garrett Stubbs pairing would be one of the worst offensive duos in the game. President of baseball operations Dave Dombrowski acknowledged at the GM Meetings that they’re evaluating an otherwise weak catching market as a backup plan in case Realmuto doesn’t return (link via Scott Lauber of The Philadelphia Inquirer).
