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

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.

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