The Phillies agreed to a one-year, $8.5 million contract with Romano (elbow) on Monday, Ken Rosenthal of The Athletic reports.
Romano was non-tendered by the Blue Jays last month but winds up getting a little more than what he was projected to receive via arbitration. The 31-year-old was limited to just 15 appearances in 2024 due to a right elbow issue which eventually required surgery, and he allowed 10 runs across 13.2 innings in those appearances. However, Romano is expected to be recovered in time for spring training and he was one of the better relievers in baseball from 2021 to 2023, collecting a 2.37 ERA and 30.3 percent strikeout rate while notching 95 saves. If healthy, he'll be a candidate to see save chances for the Phillies in 2025.