Ah, now it’s $118, even more than first reported, then. I dunno. That’s the kind of contract for a pitcher that looks good year 1/2 and by year 4 you’re wondering why the hell you ever did it.
Plus there’s this:
Can’t do anything about a player’s preferences.
UPDATE: Yeah, this contract could work out, but there's almost no margin for error.
Starting from the assumption that 1 WAR is worth $8M on the free agent market, Wheeler will have to put up just north of 3 WAR per season to justify the (rounded/equalized) $24M annual outlay on this contract.
Wheeler has exceeded that number the last two years - Fangraphs and Baseball Reference disagree somewhat on his WAR figures, as one has him in the mid 4s and the other in the high 3s, but he safely met that standard in 2018-19.
The problem is that Wheeler has missed as many full seasons to injury as he has exceeded 3 WAR. And Fangraphs, which was more generous in its WAR evals the last few years, project him to be right at 3 WAR so far. And that can't adjust for the park factors of moving from a very pitcher-friendly park to the opposite. This is a pitcher who at 29 has already had Tommy John surgery, plus separate DL stints for a flexor strain, biceps tendinitis, and a stress reaction in his pitching arm. Any extended absences due to injury almost certainly wipe out the value of the contract.
Now, the Phillies have to be all in after the Arrieta/Harper deals the last few offseasons, and Wheeler is a young free agent with plenty of talent. So it's probably a good idea for them, especially if they feel like Cole/Strasburg are out of their league. But there's lots of risk here, and they have to give up the high draft pick from the qualifying offer NYM made Wheeler.
As for the Sox, Hyun-Jin Ryu has every bit as much of injury risk as Wheeler, but he's been better than Wheeler was the last two years, with much stronger peripherals and an extremely good profile to succeed at Comiskey in that he doesn't walk anyone or give up homers. Who knows if he'd leave the Dodgers, but he's probably going to get a similar AAV as Wheeler over a shorter term - 3/$70-75 seems reasonable. I'd prefer him at that price point than Wheeler, but that's just me.