He won't be eligible for free agency until 2024.
Phillies general manager Matt Klentak offered his immediate take on the deal.
Sanchez, 21, was considered the No. 1 prospect in the Phillies' system and is considered the 27th-best prospect in all of baseball, according to MLB Pipeline. Citizens Bank Ballpark has been a misunderstood yard for several years - it's good for homers, a mild tax on runs - but Realmuto gets a step forward anyway, escaping a toxic hitting environment and settling in with better teammates.
"It's hard to acquire top players at any position, especially catcher", Klentak said. Then you add Alfaro to the mix to help bridge the gap until hopefully you can develop the "next" guy, be at Banfield or someone else, which is a huge get for a financially conscious team like the Marlins.
It will be interesting to see if the Dodgers are done making moves this offseason now that they couldn't land Realmuto, or if the front office still feels the club needs to make other upgrades, perhaps shifting their focus to free agents like Bryce Harper or Manny Machado. Over his career, he has hit.309 with a.848 OPS in 280 games on the road and.245 with a.678 OPS in 260 games in Marlins Park.
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Realmuto, an All-Star catcher, was the final piece of real major league value brought over from the previous regime for Jeter & Co.to trade as they tear it down before they hope to build it up. "We have every reason to believe he is exactly the type of player that we want representing the Philadelphia Phillies".
Sanchez in 48 games over four seasons in the minors is 15-12 with a 2.48 ERA with 191 strikeouts in 221 1/3 innings.
He was also selected to his first All-Star game and won a Silver Slugger award. The Phillies weren't an offensive party by any means - 22nd in runs - but they did score 88 more runs than Miami.
"I've received so many calls and texts in the last couple of hours since the news broke of this from people who have been around Realmuto talking about how much pitchers love throwing to him", Klentak said, "how much confidence they have to throw a ball in the dirt because they know he'll block it".
The Marlins had been talking for months with other numerous teams about a Realmuto trade before deciding to send him to their NL East rivals.