Offseason In Review: Chicago Cubs

The Cubs added star power in the Kyle Tucker trade, but otherwise made modest additions despite several other big swings.

Major League Signings

• Matthew Boyd, SP: two years, $29MM.  Includes $15MM mutual option for 2027 with a $2MM buyout
• Carson Kelly, C: two years, $11.5MM.  Includes $7.5MM mutual option for 2027 with a $1.5MM buyout
• Justin Turner, 1B/DH: one year, $6MM.  Includes a $10MM mutual option with a $2MM buyout
• Colin Rea, SP/RP: one year, $5MM.  Includes $6MM club option with a $750K buyout
• Caleb Thielbar, RP: one year, $2.75MM
• Jon Berti, 3B/2B: one year, $2MM

2025 spending: $33.25MM
Total spending: $56.25MM

Options Decisions

• Cody Bellinger, RF/CF/1B: exercised $27.5MM player option for 2025
• Club declined $10MM mutual option with LHP Drew Smyly

Trades and Claims

• Claimed RP Rob Zastryzny off waivers from Brewers
• Acquired RP Eli Morgan from Guardians for OF Alfonsin Rosario
• Acquired C Matt Thaiss from Angels for cash considerations
• Selected 3B/SS Gage Workman from Tigers in Rule 5 draft
• Acquired RF Kyle Tucker from Astros for IF Isaac Paredes, P Hayden Wesneski, and 3B Cam Smith
• Acquired cash from White Sox for C Matt Thaiss
• Acquired P Cody Poteet from Yankees for OF/1B Cody Bellinger and $5MM
• Acquired IF Vidal Brujan from Marlins for 1B Matt Mervis
• Acquired RP Matt Festa from Rangers for cash considerations.  Festa was later outrighted, elected free agency, and signed with the Rangers.
• Acquired cash considerations from Mariners for IF Miles Mastrobuoni
• Acquired cash considerations from Yankees for P Michael Arias
• Acquired RP Ryan Pressly and $5.5MM from Astros for SP Juan Bello
• Acquired cash from Orioles for IF Luis Vazquez
• Acquired RP Ryan Brasier and cash considerations from Dodgers for a player to be named later or cash
• Acquired cash considerations from Mets for OF Alexander Canario

Notable Minor League Signings

• Trevor Richards, Reese McGuire, Brad Keller, Nicky Lopez, Chris Flexen, Travis Jankowski, Phil Bickford, Ben Heller, Yency Almonte

Extensions

• None

Notable Losses

• Paredes, Wesneski, Smith, Adbert Alzolay, Patrick Wisdom, Drew Smyly, Nick Madrigal, Mike Tauchman

Much like the previous winter with Marcus Stroman, this Cubs offseason kicked off with a pivotal player option decision that would affect their financial flexibility.  This time, Cody Bellinger elected to take the $27.5MM owed to him in 2025 in lieu of a $2.5MM buyout, which also preserves a $25MM option on 2026 with a $5MM buyout.  Bellinger’s decision was not surprising, as he’s now positioned himself to decline the ’26 option having collected a total of $32.5MM for ’25.

The Athletic’s Patrick Mooney suggested a couple of times early in the offseason that the Cubs were seeking a starting pitcher who “could be trusted in a playoff game.”  Nonetheless, it wasn’t long before Mooney’s colleague Sahadev Sharma wrote that “the top tier of the starting pitching market has been ruled out” for the club.  Blake Snell, Max Fried, and Corbin Burnes would go on to sign contracts ranging from $182-218MM (though some included deferred money), and the Cubs were seemingly never a factor on them due to what I assume are philosophical objections to five-plus year commitments to thirty-something-aged free agent starters.

Instead, Cubs president of baseball operations Jed Hoyer made a pre-Winter Meetings strike for 34-year-old southpaw Matthew Boyd.  Boyd was available on a two-year contract because of his age and injury history.  After totaling 355 2/3 innings for the 2018-19 Tigers, Boyd has not reached 80 innings in a season since.