What Jordan Romano’s New Deal Means for the Closer Market

DALLAS — Faced with a puzzle in the back end of their bullpen, the Philadelphia Phillies believe they found a missing piece in a reliever who is looking to prove his dominance again in 2025.

Coming off an injury-plagued season where he appeared in just 13.2 innings over 15 games for the Toronto Blue Jays, Jordan Romano has reportedly inked a contract with the Phillies.

While the final payroll number wasn’t immediately disclosed (the contract is believed to be for one year and above the $7.75 million Romano was expected to get in arbitration in 2025), it’s clear that the Phillies believe there is something still left in the 31-year-old right-hander after he underwent elbow surgery and didn’t pitch after May 29.

Romano, who has a career ERA of 2.90 and ERA+ of 147, struggled last season with the effects of the injury, posting a 6.90 ERA and ERA+ of 63.

With that and that projected $7.75 million salary, the Blue Jays non-tendered Romano, opening up an opportunity for the Phillies to perhaps find an answer for their late-inning needs.

With Jeff Hoffman and Carlos Estevez both free agents, Philadelphia’s bullpen plans were up in the air but cleared up a bit with Romano now in the fold.

What Does This Mean for the Closer Market?

On a bigger scale, Romano signing with another team with no compensation coming back to the Blue Jays could serve as a lesson for other MLB teams who are trying to figure out the right time to potentially trade a reliever.

Among those are the St. Louis Cardinals, according to Derrick Goold of The St. Louis Post-Dispatch, who hypothesized that this move with Romano could reinforce what the Cardinals are thinking about their own closer, Ryan Helsley, and his future under the Gateway Arch.

With Helsley rumored to be potentially on the trading block, Goold believes the Cardinals will hold on to one of the game’s most dominant closers, coming off a season where he set a team record with 49 saves.

It’s certainly a roll of the dice as Helsley’s trade value will never be higher than it is right now.

However, with the Cardinals moving in a new direction in the front office and on the field and Helsley not scheduled to be a free agent until 2026, having a premium arm in the fold doesn’t mean the Cardinals are forced to trade him now.

They can wait and get a return when they want (barring injury), especially if Helsey becomes the top arm available at the deadline, where contenders can sometimes pay a premium for bullpen help.

If they keep him for all of 2025, they’d even have the option to tender him a qualifying offer, although that is very rare for relievers to receive.

The Blue Jays let Romano walk and got nothing in return. The Cardinals are set to get some value from Helsley one way or the other. The same can be said about Brewers closer Devin Williams, who is on the trade block and seems more likely to be dealt this offseason.

Pitching is at a premium at this year’s Winter Meetings, and no team wants to be the one to let a good arm get away without any kind of return.

Philadelphia may have found exactly what it was looking for in Romano, while Toronto may have been reminded of the lesson of battling payroll and patience when it comes to players who must reestablish their worth.

Meanwhile, other top relievers on the market can look towards Romano’s deal (coming off an injury-plagued down-year) and view it as the absolute floor for what they should make in free agency.