Veteran catcher J.T. Realmuto agreed to a three-year, $45 million contract to remain with the Philadelphia Phillies, according to multiple reports Friday. The deal includes an additional $5 million annually in potential bonuses. The agreement keeps one of baseball's premier catchers in Philadelphia after he completed the final season of a five-year, $115.5 million contract that represented the highest average annual value ever given to a catcher at the time.

Philadelphia's re-signing of Realmuto came after the team missed out on infielder Bo Bichette, who agreed to a three-year, $126 million deal with the New York Mets. The Phillies had been among the top pursuers of Bichette before he chose New York. The Mets pivoted to Bichette after losing outfielder Kyle Tucker to the Los Angeles Dodgers.

Realmuto, a three-time All-Star and two-time Gold Glove winner, turns 35 in March. He hit .257 with 12 homers and 52 RBIs in 134 games last season while tied for the major league lead with 132 games at catcher. His .700 OPS marked his lowest since 2015 and represented the third consecutive season his OPS declined from the previous year.

The catcher has posted a .270 career batting average with 180 homers and 677 RBIs across 12 seasons with the Miami Marlins and Phillies. Realmuto remains one of baseball's rare everyday catchers, with his 641 games ranking second among primary catchers over the past five years behind Kansas City's Salvador Perez. His 19.0 wins above replacement during that span ranks second among backstops behind Los Angeles Dodgers catcher Will Smith.

Realmuto's decision came one month after designated hitter Kyle Schwarber chose to remain with Philadelphia on a five-year, $150 million deal. The Phillies have also reached agreements this offseason with right-hander Brad Keller on a two-year, $22 million contract and outfielder Adolis Garcia on a one-year, $10 million deal.

Philadelphia continues rebuilding its roster after falling short of expectations last season. The team views Realmuto as a crucial piece despite his declining offensive numbers, valuing his defensive abilities and leadership behind the plate. The contract represents a significant discount from his previous deal while maintaining roster stability at a premium position.