12:57pm: It’s a four-year, $55.5MM extension for Hendricks, per The Athletic’s Ken Rosethal (Twitter links). Hendricks will be paid $12MM in 2020 and $14MM annually from 2021-23. He has a $16MM vesting option for the 2024 season that comes with a $1.5MM buyout but would become guaranteed if he finishes top three in the 2020 Cy Young voting.
12:47pm: The Cubs announced Tuesday that they’ve signed right-hander Kyle Hendricks to a four-year contract extension spanning the 2020-23 seasons. The deal also contains an option for the 2024 season. Hendricks, who is already set to earn $7.405MM in 2019 after avoiding arbitration, was originally under control through the 2020 season. He’s represented by Wasserman.
Hendricks, 29, has blossomed from unheralded prospect to steadying force in the Chicago rotation. While he’s unlikely to ever match the dominance that carried him to a third-place finish in the 2016 Cy Young voting, when he pitched 190 innings of 2.13 ERA ball, he’s nevertheless a rock-solid mid-rotation piece, thriving on pristine control and weak contact rather than overpowering opponents. Hendricks averages just 87 mph on his fastball, but he ranked in the top eight percent of the league in terms of average opponents’ exit velocity in 2018 (85.2 mph), and the spin rate on his curveball is among the best in the game (89th percentile).
In all, since debuting in 2014, Hendricks has amassed 789 innings of 3.07 ERA ball with 7.6 K/9, 2.1 BB/9, 0.86 HR/9 and an above-average 48.9 percent ground-ball rate. His plus changeup and hook, paired with pinpoint control, allow him to generate a well-above-average swing-rate on pitches outside the strike zone (32 percent), which helps to explain how he’s managed to continually limit hard contact despite laying claim to one of the slowest fastballs in the Majors.
Hendricks would’ve reached free agency heading into his age-31 season, and the price on his four-year extension is somewhat reflective both of his age and his proximity (or lack thereof) to an open-market setting. Both Nathan Eovaldi and Miles Mikolas, for instance, received $68MM on their own recent four-year contracts. However, Eovaldi received that sum as a 29-year-old on the free-agent market, while Mikolas received that deal with his own foray into free agency just a few months away.
For the Cubs, getting Hendricks locked up long-term was likely of particular importance given the long-term outlook of their starting staff. Lefties Jon Lester and Cole Hamels remain quality options but are both near the expiration of their contracts and are both aging. Lester has just two guaranteed years of his contract remaining, while Hamels can become a free-agent at season’s end. Jose Quintana, similarly, has just one year of control remaining beyond the current season.
The Cubs do have some longer-term options, but the organization can’t know exactly what to expect from Yu Darvish, who pitched just 40 innings in the first season of a six-year, $126MM contract last year. Chicago picked up Kendall Graveman this winter as he recovers from Tommy John surgery, but while he’s controlled through the 2021 campaign, he won’t be a plausible option until next year. Mike Montgomery is arbitration-eligible through the 2021 season as well, but he’s never worked a full season as a starter. With Hendricks now in place for an additional three years beyond the point at which he’d have originally become a free agent, the Cubs have some much-needed certainty in place.
From a luxury tax standpoint, the extension does have some ramifications. Hendricks had counted as a $7.405MM hit against the team’s luxury-tax bill, but that number now rises to $12.581MM. And because the Cubs were already into the second bracket of luxury tax penalties, every single dollar of that increase will come with a 32 percent tax hit. As such, even though Hendricks’ salary is unchanged for the coming season, the Cubs will now pay an additional $1.656MM in surcharges. Beyond flying in the face of the audacious comments made by owner Tom Ricketts last month, in which he claimed that the Cubs “[didn’t] have any more” money to spend, the Hendricks extension will give the Cubs more than $232MM of salary that counts against the luxury tax. It’ll also push the Cubs’ 2020 payroll to a guaranteed $114MM before the 2019 season even kicks off.
From a broader perspective, Hendricks’ contract is the latest in an avalanche of long-term deals signed by players this spring against a backdrop of general unrest regarding the state of free agency. Dating back to Sonny Gray’s late-January extension with the Reds, there have been a remarkable 22 multi-year deals signed by players who were still under club control (as shown in MLBTR’s Extension Tracker). That number would typically constitute two, if not three year’s worth of spring extensions. The series of long-term deals has not only weakened next winter’s free-agent class but now, with extensions from Hendricks and Jacob deGrom, has begun to cut into the 2020-21 class of free agents as well.
How much?
More to come.
55 million
Hendricks throws a fastball and elite changeup. He throws around 5 curveballs a game. He said this spring he has been working on a curve for three years now. His spin rate on his little baby curve may be good but high percentile spin rate doesn’t always mean the pitch is good. By no means is his hook “excellent” as Steve stated before editing that comment out. And if Giolito ever advances his curveball, look out.
I think this may be another signing the Cubs eventually regret.
I was hoping for at least 10 minutes to pass before the first stupid comment was made
People can’t help but make stupid comments on Cubs articles because they can’t deal with the fact that the Cubs are good.
I don’t think that’s a bad signing for the Cubs. Did you ever think people post stupid comments on Cubs threads because of the good amount of Cubs fans that do that on other threads here? Just a thought.
That had not occurred to us, dude.
Cubs fans on this site don’t really look at things logically so I figured as much.
@ReverieDays Speaking of stupid comments.
Pot meet thirsty, desperate kettle.
Cubs articles always attract what I like to call the “Single White Female” stalker crowd. The kind of fans that are more psyched to see the Cubs lose than their own team win. It’s all out of (another 90’s reference) “heeeeeeeeeey jealousyyyy.”
As a Sox fan that is not obsessed with the Cubs either way, I have noticed this too
Bryzzo is the exact person I’m talking about. Bashed the Brewers all last year saying “too many infielders” and stuff like that. Brewers win the division and blames it on “pixie dust 6 weeks” and the “cubs were tired”. Then comes back this year and starts with the “brewers lost their ace in Miley”. I even said I like the signing for the Cubs.
Obviously, stupid doesn’t have a time clock.
Having an opinion that is different than yours doesn’t make it stupid. If Hendricks blows out his shoulder and that prevents him from ever pitching effectively again, they will absolutely regret the contract. It’s well within the realm of possibility
With that thought EVERY contract for a pitcher could be disastrous…
@stan lee the manly – that’s a big IF. If we’re going to make random predictions like that, then we can say the exact same thing about every pitcher who ever signs a mid-long term contract.
Not just pitchers, every contract is like that.
I tend to agree with Stan Lee and feel the same way about Baez. If his head gets bitten off by a gorilla it will negatively effect his defense. Better be safe and not sign him to an extension. I’m open to counter arguments if anyone disagrees.
Hendricks doesn’t have a history of injury and not being a hard thrower or big curveball guy is a positive for Cubs. Seemed like a no brainer to lock him up.
Hahaha
Lowish K rate, elite BB, high GB%, avg FIP, xFIP, and SIERA. What’s not to love about a long-term deal on a pitcher who becomes replacement level if his control slips *just a bit*?
Seriously? Generally speaking it’s the pitch velocity that tends to slip over time, not control. This would especially be the case with a pitcher such as Hendricks who has always exhibited excellent command. My biggest concern for a pitcher of his ilk would be the implementation of an automated strike zone although that won’t likely happen until his new extension has expired.
$12-$14 million a season is not that bad for a pitcher of his caliber. If anything, it’s closer to market value for Hendricks. It’s not like they’re paying him $25 million a year for 8 years.
“I love it when players have to sign below market extensions because owners have sabotaged free agency!!”
If you want a baseball treat, then watch Hendricks pitch a game. He’s all business and guile. He gives his team a solid outing with a good chance to win nearly every time. He’s bright, seems like a high character guy, and he won’t embarrass his team on or off the field. He’s exactly the kind of player every team would want to lock up for the long term. Well done, Cubs.
That is very well stated. Probably the most consistent guy on the staff and his arsenal of pitches and his pin point control should serve him well going forward since he is not dependent on velocity.
Reminds me of Maddux in his appproach, tho he threw slightly harder. Good pitcher, good move.
How and why?
The FA for the next five years are gonna be even more boring than the ones from this year and last year now that most star player are signing extension
This offseason, brought to you by ExtenZe.
Seems like a bargain for the cubs.
Very shrewd move by the Cubs…a bargain..and I don’t even like the Cubs, but have to give KUDOS when due.!
That’s a win for the Cubs.
Free Agency is going to be boring next year with all these extensions 🙁
I for one really like seeing all these extensions. It’s refreshing to see guys staying with their teams instead of going after every last dollar. I think it’s a win for both sides from the ones we’ve seen so far and for baseball in general.
No brainer extension. Little money for a bottom 3 starter, in a rotation due for a major overhaul soon.
You’re such a moron does it not get sickening type this crap over and over?
He is a White Sox troll but what he said in this instance is spot on. Prior to the Kyle Hendricks extension only Yu Darvish has multiple years of team control. Cole Hamels deal is done following this season. Jose Quintana can also walk unless the Cubs pick up his $11.5M 2020 option. Jon Lester could be gone after the 2020 season unless the Cubs exercise his $25M for 2021 when he will be 37-years old.
JDGoat was referring to the subtle jab of a “bottom 3 starter”. He’s not spot on—he’s only correct because he pitches for the Cubs and is fourth in the rotation. Kyle Hendricks is the best pitcher on the staff and there are only a handful of staffs that he would be “bottom 3”. If he would have just said no brainer extension on a team with and aging staff with deals coming up it would have been a solid, non-trolling statement. That’s just my take. If anyone watches the Cubs, they are full aware of how good Hendricks has been over the past three seasons.
The man has something like a career 3.06 ERA. At least make your trolling not funny or witty, not just typing for the sake of typing.
FYI: If Hendricks deal is “little money for a bottom 3 starter” he’s an even better investment as a solid #2, no?
I agree JD, at least be somewhat clever when you troll. It’s pathetic enough to troll, but it’s just embarrassing when it’s so basic, low rent. Entertain us clown, and I’ll be sure to carve out a minute or two a week to return the favor when and if they post anything on the Northwest Indiana White Sux.
AaronSapoznik, you are a sensible W Sox fan/baseball fan. Too bad there are more like chitown, ChiSoxCity on here and less like you.
You’re looking at this like a rebuilding team. The Cubs are not that. No Lester, Hamels will likely not be in the rotation or even in baseball in a few years. Every contending team has veteran pitchers that are getting long in the tooth. The Cubs are in their window, have been the last 4 years and have at least another 3 to go. So bringing up when Lester and Hamels are gone is silly. This team is built to win now and has won the last 4 years and has at least a few years to go before rebuilding or more likely, re-tooling and keeping it going. This front office is proven.
Bottom line, this is a no brainer extension and quite frankly very good value for the Cubs. Kyle would make A LOT more in the open market.
And yet, still better than any pitcher in the Sox rotation.
Well played.
Agree with ChiSoxCity!
He is a bottom 3 starter (4th in the rotation) for the Cubs. On a non contending team, his numbers would be consistent with a solid 2/3 starter. On the W Sox… he’d EASILY be the ace of the staff and it’s not even sort of close. He gets much more on the open market, good extension for the Cubs.
Not sure Hendricks is a bottom 3 starter?? On what basis?
Botton 3 starter he would be the white Sox ace for the next 5 years. Hows James Shields working out for you?
good move, biaz is next. I still think Bryant walks though
Not so sure anymore honestly. After the deal trout got, I can’t see Bryant thinking he’ll get more, and to be clear he IS a lesser player than Trout.
MT – 2 MVP in 7 seasons.
KB – 1 MVP in 4 seasons.
And in today’s edition of cherrypicked stats…
Trout – 7 top 4 MVP seasons.
Bryant – 1 top 4 MVP season.
Trout’s the best player in the game. Granted before his injury plagued 2018, Bryant’s start to his career was similar in terms of WAR, accolades, etc… but Trout has proven it much longer and at a higher level. Bryant will likely get back on track this year now that he’s healthy, but Scott Boras wouldn’t even compare him to Trout at this point. He’ll continue to improve, when he becomes FA eligible, he’ll get a monster contract. Likely with the Cubs, he’s made it very clear that he loves it on the north side. Either way, he’ll get a MONSTER deal from someone.
Bryant one World Series ring , Trout as many as I have. Don’t mean a thing if you ain’t got that ring .
Really? It’s Trout and then everyone else. Don’t put numbers up like that. Bryant is a good player but Trout is a first ballot probably unanimous HOF
“Scott Boras wouldn’t even compare him to Trout at this point.”
You underestimate Scott Boras, my friend.
I think the Cubs want to see if Baez’s 2018 breakout was the real deal, or see how much he regresses in 2019.
It was very much the real deal. He was snubbed for mvp and a gold glove. He’ll be just as good only better this year. The Cubs have 6 guys that can hit 35+ home runs and drive in 100+ rbi. They improved an already great bullpen they are easily the favorites to win the nl central. The cards and reds are not far behind. It might take the reds 2 or 3 years. But theyll get their.
Theres no way the Cubset Bryant walk. Their TV is worth 300mil more than the Ricketts paid for the Cubs. Plus they sell out not only 95% of the time at Wrigley but they sell out in most places that cant get 45% filled. Case in point. The brewers are so salty that the Cub fans over 85+% of every game at Miller park they refuse to sell tickets to anyone outside of a Wisconsin residence.
If you ever been to coors field while the Cubs are their. Their is a sea of blue very little purple. They raise the tall boy prices only when the Cubs visit.
They have 3 players in the top 10 of Jersey sales.
They’ll give Bryant a 20 year contract that expands past his 20 year playing career.
They havent made an offer yet. They dont even know a starting point but a smart baseball fan knows it starts at arendado money.
Not bad considering they are paying chatwalk 12.5 mil this year and next
He’s looked great so far this spring
He looked great last Spring too.
Chatwood will be gone. They need a veteran backup catcher. And I like victor caratini but he just hasnt been able to adjust. Chatwalk for any vet catcher. Bad contract for bad contract..
Nicely done Cubbies! Seems like a good deal for both sides.
Good deal for Hendricks.
Not a bad extension. Might get a better return out of him over the next few years than Darvish. And hate to say it, but Lester has looked kind of rough this spring. Age might be catching up with him.
1. Lester has looked awful
2. Extension is closer to “great” than “not bad”
3. How can you mention Lester being terrible this Spring, which is accurate, without mentioning how great Darvish has looked?
Spring training for people who understand the game is for players to work on things . So Lester may throw different pitches or locations in spring training that he does in his multiple World Series games he has pitched it and dominated in. With your thinking the cardinals should dump Andrew Miller and his 11.00+ e.r.a. this spring
I never said he looked awful, I just said he’s had a rough spring. I’m just pointing out that he is 35 (I think) as well and age gets every player eventually. I’m always cautious of Darvish because of his extensive injury history. Those two factors make this extension with Hendriks look smart
He usually has rough springs and starts. I thought he was done after 2017, but he sure caught on fire last year after a so so start.
You can’t judge a pitcher by Spring stats especially a veteran who knows they are on the team. A pitcher is truly just trying to build arm strength in spring training. Wait to see what happens in the regular season
Smart move for an equally intelligent pitcher.
Not a good curveball. Hopefully meant elite changeup.
The old Ryan Dempster trade…..
I love how Dempster takes credit for the Cubs getting Edwards jr. And Hendricks. In a joking matter. He claims he rejected the trade to the Braves because the rangers had those two pitchers.
Dempster’s FB is similar to Hendricks. And slider similar too.
In the playoffs ’08 the Cubs were truly a dempster fire.
“In all, since debuting in 2014…” having both of these lead off a sentence is pretty redundant.
Also I don’t get why all these writers start their sentences with the subjects and follow them with the adverbs. Like “Jose Quintana, similarly, has…” and “both Nathan Eovaldi and Miles Mikolas, for instance, received…”
Could be better written with the adverb first, like “similarly, Jose Quintana has…” or “for instance, both Nathan Eovaldi”
Fifth grade English classes nationwide need your tutelage. Also, your willingness and ability to dispense such knowledge in unlikely fora must surely have a valuable use.
Idk why but I thought he was a little older than that. Guys got nasty stuff
That’s 1. Four more to go
1. Baez
2. Rizzo
3. Bryant
4. Contreas
Nice signing for the Cubs.
Solid move by Theo and Co to extend Hendricks. If he was a free agent, he’d get over $20 million per year.