The Phillies exercised Nola's $16 million team option for 2023 on Monday, Jon Heyman of the New York Post reports.

EDGE Analysis

Nola has held up to his end of the bargain and then some since signing a four-year, $45 million extension with the Phillies in March 2019, with the 16.1 WAR he's accumulated over that four-season stretch placing him sixth among all MLB pitchers. The 29-year-old right-hander will once again be back with the Phillies at a team-friendly rate in 2023 before he hits free agency for the first time next winter. The Phillies could look to negotiate with Nola on a long-term deal in the months to come to ensure he doesn't make it to the open market next offseason.