Where Phillies’ offseason stands: Kyle Schwarber and J.T. Realmuto — and the great unknown

ORLANDO, Fla. — Last winter, the Phillies did not sign a free agent to a major-league contract until Dec. 9, so going on that timeline, they’re right on pace. This consequential offseason has been quiet, which may or may not change with the sport converging at Disney World for the annual Winter Meetings. The Phillies have been willing to wait while Kyle Schwarber and J.T. Realmuto, two players they wish to re-sign, explore the open market.

But Dave Dombrowski might be growing antsy.

An opportunity for Dombrowski and the rest of the Phillies’ brass to meet face-to-face with the players’ representatives this week at the Waldorf Astoria could crystallize things. The Phillies have felt it was respectful to allow Schwarber and Realmuto, two players so essential to the franchise’s operation, the chance to solicit offers. The implicit agreement was the Phillies would engage when appropriate. They told both players to come back to them before committing to anything else.

Schwarber, according to league sources, could have a resolution within the next two weeks. The Pittsburgh Pirates are among the teams interested in Schwarber; they have made a four-year offer, league sources told The Athletic.

It’s unclear how detailed actual negotiations between the Phillies and those two players have been. The delay in reaching any agreements might have nothing to do with a gulf between the sides. There is no standoff, at least not yet. The Pittsburgh offer, plus whatever else Schwarber has on the table, could push the Phillies to a larger number.

This is a typical free-agent dance, although the rest of the league is well aware of how interested — and financially motivated — the Phillies are to retain Schwarber and Realmuto.

The great unknown is what course the Phillies will take once they have clarity on Schwarber and Realmuto. Until this point, they have poked around on free-agent and trade targets but portrayed most of those quests only as alternatives should they not retain Schwarber or Realmuto, according to agents and rival clubs that have spoken with the Phillies. They need to know how much of the payroll will be allocated to their re-signed players before mapping out the rest.

They have ideas, and it’s not as if they have missed on a major acquisition yet while in this limbo. The high-end reliever market has generated the most action so far; the Phillies were not shopping in that aisle after acquiring Jhoan Duran at last summer’s trade deadline.

Essentially, not much has changed since the World Series ended and the offseason commenced. That can and will change in a hurry. Sometime soon. Maybe.

The payroll is always a factor, even if it keeps climbing on an annual basis for the Phillies. They have told other clubs they prefer to deal from their major-league roster, a stance that is about shuffling their familiar mix and financial concerns. They would love to reallocate some of their payroll commitments, a wish that might not be granted.

Alec Bohm, who is eligible for free agency after next season, could be traded this offseason. (Ronald Martinez / Getty Images)

It’s why Alec Bohm, who will get close to $10 million through salary arbitration, remains a prime trade candidate. That number isn’t prohibitive to the Phillies, but if they are to maintain a payroll near last year’s approximate $313 million, those dollars matter. It’s why they have held patient on jettisoning Nick Castellanos, who is owed $20 million in 2026. They hope some team pays down even a small portion of that salary; this might be a pipe dream. But the Phillies have decided it’s worth waiting out the market, especially with some smaller-revenue clubs expressing a newfound desire this offseason to spend money.

This is why league sources said the Phillies have entertained potential trade proposals for Matt Strahm, one of the most effective lefty relievers in MLB over the past few seasons. He’ll make $7.5 million in 2026 — again not a large sum but meaningful if the Phillies can pair it with other savings to redeploy into their payroll.

Bohm and Strahm would be the two realistic trade candidates most likely to fetch the Phillies something useful in return, while providing financial relief. Castellanos and Taijuan Walker, who’s owed $18 million in the final year of his contract, are much longer shots to net anything.

Make no mistake: The Phillies have money to spend; it’s why they have been connected to most of the major free agents this offseason. Dombrowski, the club’s president of baseball operations, was transparent last offseason when the Phillies limited themselves to only one-year contracts for free agents. It was something of a bridge year. Now? No one with the club has hinted the Phillies would be restricted from additional long-term deals beyond Schwarber and Realmuto.

How they can allocate those strong financial resources will dictate the entire winter. They have shown a willingness in the past to negotiate longer contracts to knock down the average annual value of a deal because that’s the figure MLB uses when calculating the final luxury tax bill.

It’s been 60 days since the Phillies last played a game. Everyone knows the priorities. For now, the delicate dance continues.