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Cody Bellinger

Blue Jays Had Shown Interest In Cody Bellinger

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After weeks of discussion between the Cubs and Yankees, Cody Bellinger landed in the Bronx. Before that was finalized, the Mariners and Astros were among the teams that had been loosely tied to the former MVP in trade rumors.

Jon Heyman of the New York Post reported just after the Bellinger trade that the Blue Jays had also been involved in talks with Chicago. It looks as if Toronto ended as the runner-up. Yankees general manager Brian Cashman told reporters this afternoon that the Cubs had narrowed it down to two teams and decided they would pull the trigger on an offer by Tuesday (relayed by Bryan Hoch of MLB.com). “If we didn’t pull him down, he would’ve been off the board,” Cashman added. While the GM declined to identify the other team, reading between the lines makes it seem that the Jays finished in second.

Toronto has had longstanding interest in Bellinger. They were involved in his free agent bidding in each of the last two winters. In both cases, they watched him sign with Chicago instead. This time around, he’s headed to a divisional competitor. The Yankees sent depth starter Cody Poteet to the Cubs in a one-for-one swap. Toronto could certainly have made a more compelling offer in terms of prospect talent, but it seems they didn’t want to match the Yankees financially.

New York agreed to assume $47.5MM of the $52.5MM remaining on Bellinger’s contract. There haven’t been any details about how much Toronto would’ve been willing to commit. The Cubs’ biggest goal was shedding as much of the deal as possible. Bellinger looked like the odd man out in Chicago even before they acquired Kyle Tucker. That blockbuster trade made a Bellinger move inevitable.

The Jays have taken on big money in one trade this offseason. They absorbed the remaining five years and $96.5MM on the Andrés Giménez contract in their Winter Meetings deal with the Guardians. While Toronto has been tied to almost every free agent of note, their only MLB signing thus far is a two-year deal to reunite with middle reliever Yimi García.

Outfield remains a clear weakness. George Springer is coming off a .220/.303/.371 showing in his age-34 season. Daulton Varsho is expected to begin the season on the injured list after undergoing a rotator cuff repair in his right shoulder. He’ll be the everyday center fielder upon his return. Varsho is one of the game’s best defenders, but he’s been a roughly league average hitter when healthy. Any lingering effects from the shoulder issue could push him toward the bottom third of the lineup. Their in-house options to play left field (e.g. Joey Loperfido, Davis Schneider, Steward Berroa, Jonatan Clase) have limited MLB experience.

The Jays need at least one everyday outfielder. There’s an argument that they need to acquire regulars in both corners to push Springer into a limited role. Anthony Santander and Teoscar Hernández are the biggest remaining bats in the free agent outfield class. Both players declined qualifying offers. Jurickson Profar, who did not receive the QO, is coming off a fantastic season. Max Kepler, Jesse Winker and Austin Hays are among potential rebound candidates.

Yankees Notes: Williams, Loaisiga, Bellinger, Trevino

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It’s been a frenetic week-plus for the Yankees, who over the past ten days have watched Juan Soto sign with the Mets and quickly pivoted to bring lefty Max Fried, closer Devin Williams and first baseman/outfielder Cody Bellinger into the fold. There’s still more on the Yankees’ short-term to-do list, but Williams also offered a glimpse at a potential conversation that could be had in the coming months. Asked by the YES Network’s Jack Curry about the possibility of signing a long-term contract in the Bronx, Williams replied that it’s “definitely an option.” As it stands, he’s heading into his final season of club control before free agency.

Williams has been one of the game’s most dominant relievers since making his debut. The 2020 National League Rookie of the Year ranks in the top-three of all big league pitchers (min. 200 innings) in both ERA (1.83, second) and strikeout rate (39.4%, third) since coming into the league.

Detractors might point to Williams surrendering what was effectively a season-ending home run to Pete Alonso against the Mets in the NLDS, but it’s rare for the righty to falter in that manner. Since 2020, his first full big league season, no pitcher in baseball has a higher win probability added than Williams. He’s been placed into 138 save/hold situations in his career and only blown the opportunity 10 times. Broadly speaking, Williams has done his best work in high-leverage spots, that lasting memory from the ’24 postseason notwithstanding.

A pitcher with Williams’ stuff and track record should have the opportunity to command one of the largest deals ever for a reliever next winter — provided he maintains that standard in his first season with the Yankees. Williams will pitch nearly all of this season at 30 years of age, turning 31 in September. Age and perhaps some health questions — he missed three months in 2024 with multiple stress fractures in his back — might keep him from quite reaching the same heights that Edwin Diaz (five years, $102MM) and his former teammate Hader (five years, $95MM) reached in free agency. Diaz was 29 in the first year of his contract. Hader was 30.

Still, Williams could reasonably expect to command at least four years, if not five, and he’d be able to push into the rarefied air of $16-20MM average annual values for relievers that have only been attainable for the game’s truly elite stoppers over the past few years. Diaz, Hader, Wade Davis, Liam Hendriks, Kenley Jansen and Aroldis Chapman are the only relievers to command multi-year deals with AAVs of $16MM or more.

Whether the two sides will actually get into serious negotiations is an open question, but Williams’ ostensible openness is of some note. He’s projected by MLBTR contributor Matt Swartz to earn $7.7MM in his final arbitration this coming season, and one would presume he and his reps at Klutch Sports are eyeing an annual salary of $18MM or more for his free agent seasons. It’d be a costly endeavor, but the Yankees have been willing to make huge commitments to the bullpen in the past (e.g. Chapman, Zack Britton).

Elsewhere in the Yankee bullpen is another potentially dominant arm: righty Jonathan Loaisiga. The Yanks more quietly re-signed the Nicaraguan-born righty this month. He’s currently eight months removed from an internal brace procedure to repair a UCL tear in his right elbow. Pitching coach Matt Blake told reporters today, including Chris Kirschner of The Athletic, that the aim is for Loaisiga to be back in the Yankees’ big league bullpen by late April or early May.

The 30-year-old Loaisiga has only reached 50 innings in one big league season but has been excellent when healthy enough to take the ball. Dating back to 2020, the oft-injured righty sports a 2.98 ERA with a below-average 20.3% strikeout rate but a strong 6.5% walk rate and an elite 58% ground-ball rate. Since largely shelving his four-seamer in favor of a sinker, Loaisiga has averaged a blazing 98.1 mph on that sinker, also employing a changeup to help keep lefties off balance. It seems the current expectation is for Loaisiga to open the season on the injured list, but it may not be a particularly lengthy stay, based on the current trajectory of his rehab.

Of course, the headline-grabbing news of the week in the Bronx — beyond finalizing their eight-year deal with Fried and introducing him at a press conference today — was the Yankees’ completion of a trade to bring Bellinger to the Bronx. Rumors of talks between the Yankees and Cubs were plentiful, particularly once Soto signed with the Mets. The two teams finally lined up on a deal yesterday afternoon.

USA Today’s Bob Nightengale tweeted not long after the trade that the Yankees had informed Bellinger he’ll be utilized in center field. General manager Brian Cashman pushed back on that today following the Fried presser (link via Bryan Hoch of MLB.com), stating that there’s no firm decision on Bellinger’s defensive home. He could play any of center field, left field or first base for the Yankees next season, and that decision will be contingent on what the Yankees are able to accomplish throughout the remainder of the offseason. FOX Sports’ Deesha Thosar adds that manager Aaron Boone spoke to Bellinger last night, and Bellinger informed his new skipper he’s open to playing wherever needed.

That flexibility, plus the flexibility provided by Jazz Chisholm Jr.’s ability to play multiple spots, leaves Cashman a vast array of possibilities for the remainder of the offseason. The Yankees are reportedly intrigued by several free agent first basemen but could look to the outfield market and also have other areas of depth from which they could trade. Francys Romero of BeisbolFR.com suggests that catcher Jose Trevino, for instance, could find himself on the trade block in the weeks ahead.

There’s been some speculation that the Yankees could deal from their catching depth this winter, and they’ve already moved one of the five catchers they had on their 40-man roster, sending Carlos Narvaez to the Red Sox for a minor league pitcher and some international bonus pool space. With Austin Wells emerging as the starter behind the plate and backstops J.C. Escarra and Jesus Rodriguez joining Trevino on the 40-man roster, there’s still a good bit of depth. (That doesn’t even include catcher/first baseman Ben Rice, or catching prospect Rafael Flores, who’s not on the 40-man but just had a big season in Double-A.)

To be clear, there’s no indication that Trevino is expressly being shopped. But catching depth is always at a premium around the league, and this offseason’s market is particularly thin. The Yankees are a surefire luxury payor, and while Trevino’s projected $3.4MM salary (again, via Swartz) isn’t excessive, moving him could cut the Yankees’ spending by around $7MM after accounting for the CBT.

The 32-year-old Trevino hit just .215/.288/.354 in 234 plate appearances last year but graded out as a plus-plus defender. The 2022 Platinum Glove winner is a free agent after the season, and with a wealth of young catching options in Wells, Escarra, Rodriguez and Flores, it’d be understandable if the Yanks leveraged that depth by moving Trevino for some bullpen help or depth in another area of need.

Yankees Acquire Cody Bellinger

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The long-awaited Cody Bellinger trade has arrived. The Yankees and Cubs announced a trade sending Bellinger and cash considerations to the Bronx in exchange for right-hander Cody Poteet. Chicago is reportedly paying down $5MM of the $52.5MM remaining on Bellinger’s contract. They’ll pay $2.5MM of next season’s $27.5MM salary and send another $2.5MM in 2026 — either covering a portion of his $25MM salary for that season or paying half of the $5MM buyout if he opts out of his contract next winter. New York reportedly plans to use Bellinger as a center fielder.

Bellinger heading to the Bronx is a logical fit and it has been in plenty of rumors recently. At the start of the offseason, the Yankees lost Juan Soto, Alex Verdugo and Anthony Rizzo to free agency, opening up two holes in their outfield and one at first base. Since Bellinger has played both the outfield and at first, the 29-year-old was seen as a possible fit for their 2025 plans in various ways. The Yanks pursued Soto for a long time but he eventually landed with the Mets, pushing the Yankees to several backup plans. They have since signed left-hander Max Fried and acquired right-hander Devin Williams to upgrade their rotation and bullpen.

For the Cubs, Bellinger has seemed expendable for a few reasons. On the one hand, Pete Crow-Armstrong emerged as a viable glove-first center fielder in 2024, which was Bellinger’s primary spot the year before. Michael Busch also took over the first base spot. With Ian Happ and Seiya Suzuki in the outfield corners, Bellinger was a bit squeezed. The Cubs only compounded the problem when they acquired Kyle Tucker from the Astros.

However, beyond the roster crunch, the Cubs were also likely motivated to move Bellinger due to his decline in performance. After some rough years with the Dodgers while recovering from shoulder surgery, the Cubs took a bounceback flier on Bellinger in 2023. After being non-tendered by the Dodgers, the Cubs gave Bellinger a $17.5MM guarantee on a one-year pact, hoping he could get over his injury woes and return to being the player that won Most Valuable Player in 2019.

He didn’t get all the way back to that level but was still great value for that investment. He stole 20 bases and hit 26 home runs. He only struck out 15.6% of the time. The reviews of his center field defense were mixed but were mostly close to league average. He also moved to first base on occasion. He slashed .307/.356/.525 for a 136 wRC+ and produced 4.4 wins above replacement, in the eyes of FanGraphs.

Perhaps the Cubs would have been happy to walk away at that point. They gave Bellinger a qualifying offer and didn’t seem to have a very high motivation to re-sign him, but nor did any other clubs, as Bellinger remained unsigned through late February. Eventually, he and the Cubs agreed to a three-year, $80MM deal with opt-outs after each season.

On that kind of deal, the best case scenario for the club is that the player performs well and then opts out. If the player doesn’t opt out, it means he doesn’t like his prospects in free agency, which likely means he got hurt or underperformed.

Bellinger’s production did indeed slip relative to 2023, though it wasn’t disastrous. He stole nine bases and hit 19 home runs. His strikeout rate held steady at 15.6%. He slashed .266/.325/.426 for a wRC+ of 109. His center field defense was still graded as around league average but he spent less time there due to the aforementioned emergence of Crow-Armstrong. He produced 2.2 fWAR, half of the year before.

Going into the offseason, it was a borderline call as to whether Bellinger would opt out or not. He could have taken the $2.5MM buyout and taken his chances, leaving a $52.5MM guarantee on the table. While he may have been able to beat the $50MM difference this winter, he decided to stay, perhaps due to the way the current contract is allocated. He will make $27.5MM in 2025 with a $5MM buyout on his $25MM for 2026. There’s a best-case scenario for him personally where he plays better in 2025 and then takes the second opt-out, returning to the open market with greater earning power, pocketing $32.5MM in the process. He decided that was more attractive than opting out this year.

It seems fair to conclude that the Cubs would have rather he opted out. Trade rumors surrounding Bellinger have been flying all offseason and now the Cubs have moved on from him, mostly for salary relief. By taking on the majority of that salary, the Yankees haven’t had to give up much, though there is financial risk and the deal has more downside than upside.

If Bellinger plays especially well in 2025, he will trigger that opt-out. That will leave the Yankees having paid him $27.5MM for one year, which is the best-case scenario for them at this point. Though if he doesn’t play well or finishes the upcoming season with a notable injury, he will stay on their books for 2026, with the Yanks on the hook for $22.5MM of his $25MM salary.

The Yankees are also repeat luxury tax payors, which will add to what they are paying Bellinger. If they end up above the highest threshold as they did in 2024, then they are slated for a 110% tax on spending over the top line, so any new additions to the roster effectively cost double. That compounds the risk they are taking with Bellinger but the same would be true if they had instead opted to sign a free agent or acquire another player making a notable salary.

Bellinger has been a very streaky player in his career, so it’s anyone’s guess which of those outcomes is more likely in the upcoming year. As mentioned, he’s shown MVP upside but followed that up with a stretch so bad that he was non-tendered. He roared back in 2023 but dipped a bit in 2024.

All that being said, it’s understandable why the Yankees would be interested in taking this risk. The free agent market features outfielders like Teoscar Hernández and Anthony Santander, but they will likely end up with larger guarantees than Bellinger. Santander is reportedly looking for a five-year deal and Hernández three, each likely hoping for an average annual value of $20MM or more.

They are also both bat-first guys with poor defense, whereas Bellinger is capable of being a strong defender in an outfield corner or perhaps passable in center. The Yanks played Aaron Judge in center a lot in 2024 while using Verdugo and Soto in the corners, though it seems that Judge is now slated to return to right field. That’s a sensible pivot since Judge’s marks were poor this year and he’s about to turn 33, meaning the long-term toll on his body would have to be considered. The Yankees may have continued to have Judge up the middle if they had re-signed Soto but after he signed with the Mets, it was reported the the club was planning to move Judge back to right and have Jasson Domínguez get a crack at the center field job.

Now that they have landed Bellinger, it seems he is Plan A for center. As mentioned, the advanced metrics have been a bit split on his viability there. In over 4,000 innings, he has been credited with 10 Defensive Runs Saved. However, most of that positive value came earlier in his career with the Dodgers. He’s been average or below for four straight years now. Outs Above Average, however, is far more bullish. That metric has given Bellinger a grade of +19 in his career, having him at par or better in every season of his career.

Perhaps there’s a scenario where Domínguez seems like the better option and pushes Bellinger to a corner, but there’s no guarantee he will be a capable big leaguer in 2025 at all. He tore through the minors and then debuted with a splash in 2023, but he then required Tommy John surgery late that year, which put him on the shelf for a decent chunk of 2024. He then missed more time this year due to an oblique strain and has only appeared in 26 big league games at this point. He will likely still get a shot at taking the left field job next to Bellinger and Judge but isn’t guaranteed anything, with guys like Everson Pereira and Spencer Jones around to give him some competition.

The Yanks didn’t have many other options if they wanted to find a solution for center field. The free agent market is arguably led by glove-first Harrison Bader, who they weren’t likely to sign anyway after a bad experience trading for him in 2022. The trade market has other options such as Luis Robert Jr., though all reports have indicated the White Sox are setting a high asking price even though Robert is coming off yet another injury-marred season.

It’s also possible that they change their plans, depending on how the rest of the offseason plays out. They reportedly have interest in various first base options, such as trade candidates Josh Naylor or Nathaniel Lowe, as well as free agents Pete Alonso, Christian Walker, Carlos Santana and Paul Goldschmidt. But if they can’t complete a deal they like there, they could always pivot back to Hernández and/or Santander or some other outfielder, sending Bellinger to first base in that scenario.

For the Cubs, they are likely happy to get the majority of Bellinger’s salary off their books but also take a flier on Poteet. The 30-year-old has 83 innings of major league experience at this point between the Marlins and Yankees, missing the 2023 season while recovering from Tommy John surgery. He returned to the mound in 2024 but also missed about three months due to a right triceps strain.

He tossed 24 1/3 innings in the majors this year over four starts and one relief appearance. He allowed 2.22 earned runs per nine with a 16.7% strikeout rate, 8.3% walk rate and 42.3% ground ball rate. He also made ten Triple-A starts with a 3.92 ERA, 27.2% strikeout rate, 8.3% walk rate and 40.7% ground ball rate.

The Cubs already have a solid rotation mix consisting of Justin Steele, Shota Imanaga, Jameson Taillon, Matthew Boyd and Javier Assad. They’ve been connected to Jesús Luzardo in recent rumors and also have Jordan Wicks, Ben Brown and Cade Horton in the mix. Poteet still has options and can slot in as Triple-A depth for the Cubs.

Financially, RosterResource now has the Cubs with a competitive balance tax calculation of $192MM, almost $50MM shy of the $241MM base threshold. They went a bit over the line in 2024 but it’s unclear if they are willing to do so again in 2025. It’s also unclear if they have any other big moves planned now that they have added Tucker and Boyd. The bullpen could certainly use some upgrades but the club has generally shied away from big splashes there.

RR puts the Yankees at a $270MM payroll and a luxury tax calculation of $292MM. They had a payroll around $300MM last year and therefore still have a bit of wiggle room for other moves if they are willing to get to a similar level next year. The top tier of the tax starts at $301MM next year, so they are not far from getting up to that 110% tax rate, but are already at a 95% rate at their current level.

They are still on the lookout for help at the infield corners, with Jazz Chisholm Jr. likely slated to be moved from third to second base, though adding a second baseman and keeping Chisholm at third is also a possibility. Perhaps a trade of Marcus Stroman could help in multiple ways, as he is making a notable salary and arguably surplus to requirements in the rotation.

Jeff Passan of ESPN first reported that Bellinger and cash were going to the Yankees for Poteet. Jack Curry of YES Network first had the $5MM total. Jesse Rogers of ESPN reported that it was split into $2.5MM per year while Passan added that the second half would be coming regardless of the opt-out decision. Bob Nightengale of USA Today reported that Bellinger has been told he’ll be playing center field for the Yanks.

Latest On Yankees’ First Base Search

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The Yankees have been linked to such free-agent first baseman as Christian Walker and Pete Alonso this winter, and talks seemingly remain ongoing in some form with the Cubs about Cody Bellinger’s availability.  Recent reports suggest that the Yankees and Cubs are upwards of $10MM apart in deciding how much of Bellinger’s salary will be covered by Chicago, and the New York Post’s Jon Heyman writes today that not much has changed in the stalemate between the two clubs.  As Heyman puts it, “it’s a matter of ’who blinks first,’ if ever.”

If none of these targets end up being a fit, the Yankees are “also considering” several other backup plans.  According to Heyman, these options include signing free agent Carlos Santana, or exploring a trade for the Guardians’ Josh Naylor or the Rangers’ Nathaniel Lowe.  Given how Yankees GM Brian Cashman usually casts a wide berth in checking in on numerous players every offseason, it’s probably safe to guess that more than just these aforementioned first basemen have drawn some level of interest from New York.

Signing Santana would be the most straight-forward and cost-effective move of the bunch, as Santana will almost surely require just a one-year guarantee because he is entering his age-39 season.  Despite his age, Santana rebounded from a few middling seasons to post a .238/.328/.420 slash line and 23 home runs for the Twins over 594 plate appearances in 2024, while also winning the AL Gold Glove at first base.  The combination of offense and defense translated to 3.0 fWAR for Santana, the third-highest of his 15 Major League seasons.

This production will merit Santana a raise on the $5.25MM he received in his one-year deal with Minnesota last winter, but concerns over his age and possible regression will probably limit his salary.  Signing Santana would also be a relatively low-upside play, whereas trading for Naylor or Lowe represents a higher ceiling for production.

Trading for Lowe would also mean more than just a one-year commitment, as the first baseman is arbitration-controlled through the 2026 season.  Projected for a $10.7MM salary this year, Lowe is coming off another solid season that saw him hit .265/.361/.401 with 16 homers over 565 PA, and Lowe also delivered quality defense as a Gold Glove finalist behind Santana.

There was a little buzz about Lowe’s possible availability heading into the trade deadline last summer, but nothing in the way of concrete reports that Texas was seriously considering moving the 29-year-old.  In re-signing Nathan Eovaldi and trading for Jake Burger, the Rangers are certainly aiming to return to contention in 2025, but moving Lowe to address another need on the active roster is a plausible tactic.  Since the Rangers are known to be looking for left-handed hitting, however, however, dealing such a lefty swinger in Lowe would only serve to tilt the lineup further to the right.

Trading Naylor would also be an imperfect move for a Guardians team that needs offensive help, but Cleveland has typically looked maximize its return on notable players by trading them before they reach free agency.  Naylor is therefore a more clear-cut trade candidate than Lowe, and Naylor’s projected $12MM arbitration salary won’t break the bank.  While Lowe or the switch-hitting Santana would also be good fits hitting at Yankee Stadium, the short porch in right field seems taylor-made for Naylor’s left-handed power bat, and it is easy to imagine Naylor topping his career-best total of 31 homers (set in 2024) over a full season in the Bronx.

Kyle Manzardo and Jhonkensy Noel are the likeliest candidates to step in at first base for the Guardians if Naylor is traded, though that is putting extra pressure on a pair of inexperienced players, plus the Guards would also need some extra first base/DH depth in that scenario.  Cleveland is also in need of outfield help, though the Yankees might not be a fit in that sense since they’re looking for outfielders themselves in the wake of Juan Soto’s departure.

Cubs Notes: Hoerner, Third Base, Bellinger, Steele

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The Cubs made a massive splash on the trade market yesterday when they landed star outfielder Kyle Tucker is a blockbuster deal with the Astros. The club surrendered a hefty package of All-Star third baseman Isaac Paredes, 2024 first-rounder Cam Smith, and right-handed youngster Hayden Wesneski in order to make the deal, however, and the loss of Paredes in particular may have changed some of the club’s offseason plans.

Second baseman Nico Hoerner has reportedly been available in trade talks this winter, with the Mariners in particular being said to have interest in the infielder. According to Ken Rosenthal of The Athletic, however, it’s possible that the club’s thinking involving Hoerner has changed in the aftermath of yesterday’s deal with the Astros. Rosenthal notes that the Cubs were motivated to trade from their infield mix in order to open up playing time for top prospect Matt Shaw, who hit a sensational .298/.395/.534 in a late-season cup of coffee at the Triple-A level and appears ready to make the jump to the major leagues.

Shaw was drafted as a shortstop, but is a bat-first prospect who has spent time at both second and third base in the minors since being selected with the 13th-overall pick in the 2023 draft. While Shaw has typically been considered a more natural fit at second than third due to questions about his arm strength, the youngster logged 580 1/3 innings at the hot corner in the minors this past year and seems to be a natural choice to replace Paredes in Chicago’s infield mix next year. That, according to Rosenthal, leaves the Cubs “likely” to keep Hoerner in the fold headed into next season.

It’s at least possible another addition changes those plans, as USA Today’s Bob Nightengale reported earlier today that the club is in the market for third base help following yesterday’s deal. It’s unclear if such an addition would be a part-time player who could offer insurance in case Shaw proves to not be quite ready for the majors or if the Cubs are pursuing more of a regular option at the hot corner, but it would seem likely at this point that the Cubs may only seriously entertain a Hoerner trade going forward if they’re able to land a regular third baseman, thereby allowing them to replace Hoerner with Shaw at the keystone.

While Hoerner may be staying put in Chicago, the same cannot be said for Cody Bellinger. The 2019 NL MVP has been known to be on the trade block all winter due to the outfield logjam the Cubs experienced late in the 2024 season, when Bellinger was vying with Seiya Suzuki, Ian Happ, Mike Tauchman, and top prospect Pete Crow-Armstrong for regular playing time. That logjam already led the Cubs to non-tender Tauchman, and the introduction of Tucker as the surefire everyday starter in right field only further emphasized that Bellinger figures to play in another uniform next year.

The Yankees appear to be perhaps the most aggressive suitor for Bellinger this winter, though reports have previously indicated that the sides remain apart on how much of Bellinger’s contract the Cubs should retain. Peter Botte of the New York Post provided additional details about the situation yesterday, reporting that the sides are “more than $10MM” apart in their negotiations. That’s a hefty gap the sides will need to bridge in order to come together on a deal, as it represents more than a third of Bellinger’s $27.5MM salary for the 2025 season. Freeing up money in order to improve other areas of the roster seems to be one of the primary motivators for the Cubs in trading Bellinger. According to RosterResource, the club’s luxury tax payroll sits at just under $215MM after the Tucker deal, and clearing as much of Bellinger’s $26.67MM average annual value off the books as possible would greatly increase Chicago’s financial flexibility as they look into improving their rotation by dealing for a starter like Mariners righty Luis Castillo or Marlins southpaw Jesus Luzardo.

Speaking of the rotation, Patrick Mooney and Tim Britton of The Athletic recently took a look at the possibility of an extension between the Cubs and left-hander Justin Steele. The pair report that Steele and the Cubs have not engaged in extension talks to this point, though they note that the Cubs frequently use the start of Spring Training as an opportunity to explore extensions with players as they’ve done with Hoerner and Happ in the past before ultimately getting deals done closer to Opening Day.

The 29-year-old lefty is certainly an intriguing extension candidate. Steele is under team control for three more seasons and doesn’t sport high-end velocity or massive strikeout rates. With that said, his results have been undeniably excellent in three seasons since he joined the rotation on a full-time basis. In 427 innings of work across 78 starts over the past three years, Steele has posted a 3.10 ERA (134 ERA+) with a nearly matching 3.14 FIP. He generates grounders at a strong 48.5% clip and has limited walks to just a 5.7% rate over the past two seasons after struggling somewhat with his control in 2022. Among starters with at least 300 innings over the past two years, only Gerrit Cole has allowed a lower ERA than Steele’s 3.07, while his 3.11 FIP ranks third behind Sonny Gray and Logan Webb.

Cubs Close To Deal For Kyle Tucker

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1:20pm: Right-hander Hayden Wesneski is also involved in the talks, per Ken Rosenthal of The Athletic.

1:03pm: The Cubs and Astros are “close” to an agreement on a Tucker trade, tweets Heyman. Ari Alexander of KPRC-2 in Houston reports that the two sides have discussed a return that would send Paredes, Smith and a third player to Houston.

12:56pm: Talks between the two sides have “continued to gain momentum,” Jon Morosi of MLB Network reports. Jon Heyman of the New York Post tweets that Smith and Paredes are “among the names being discussed,” suggesting others could indeed be in play.

9:10am: The Cubs and Astros have been in talks on a trade that would send star outfielder Kyle Tucker from Houston to Chicago in exchange for infielder Isaac Paredes and 2024 first-round pick Cam Smith, reports Bruce Levine of 670 The Score. It’s not yet clear whether other players are involved on either end. There’s no indication a deal is nearing the finish line.

Tucker, 27, only recently emerged as a viable trade candidate. The former No. 5 overall pick broke out as an everyday player in 2020 and has since elevated himself to one of the game’s best young players all around. Over the past four seasons, he’s turned in a .280/.362/.527 slash with 112 homers, 80 steals, an 11.3% walk rate and just a 15.1% strikeout rate. A fracture in his shin cost him much of the 2024 season, but he had his most productive season ever when healthy: .289/.408/.585, 23 homers, 16.5% walk rate in 78 games.

Tucker is a year from reaching free agency as a 28-year-old and is poised to command the type of mega-contract that Astros owner Jim Crane has been unwilling to offer; Houston’s longest contract under Crane has been Yordan Alvarez’s six-year, $115MM deal. Jose Altuve’s $151MM extension is the largest in terms of overall guarantee. Tucker could command double that guarantee in free agency over a significantly longer term than Alvarez’s deal.

For the Cubs, adding Tucker would only further increase the likelihood of trading Cody Bellinger and/or Seiya Suzuki. Tucker would supplant both in right field. Chicago already has young Michael Busch at first base and Pete Crow-Armstrong in center field. Left fielder Ian Happ has a full no-trade clause. There’d be no obvious spot to play either Bellinger or Suzuki other than designated hitter. That’d be a waste of Bellinger’s solid defensive skills, and Suzuki has a preference to play in the field rather than slot in as a primary DH. He also has a full no-trade clause, further complicating matters.

The trio of players’ contracts are worth keeping in mind, too. Tucker is entering his final season of club control and is projected by MLBTR contributor Matt Swartz to earn $15.8MM this coming season. Bellinger is guaranteed a $27.5MM salary next season and has a $25MM player option with a $5MM buyout for the 2026 season. In essence, he’s guaranteed at least $32.5MM for one year and perhaps $52.5MM over the next two seasons, pending that opt-out decision. Suzuki has two years to go on his five-year, $85MM contract and will earn $18MM in each of the next two seasons.

For the Astros, trading Tucker would be a tough pill to swallow. Crane has voiced a willingness to pay the luxury tax if the right situation presents itself but seems to rather clearly prefer to avoid doing so for what would be a second straight season. The ’Stros have been angling to bring longtime third baseman Alex Bregman back into the fold, but he’s been seeking a deal north of $200MM while Houston’s most recent reported offer was for six years and $156MM. That the Astros are looking at not only an immediate big league option at the hot corner (Paredes) but also a recent first-round pick whose primary position is third base (Smith) at least implies some pessimism of completing a reunion with Bregman.

That said, the Astros also have a need at first base. Paredes could capably fill that role, as he’s played all four infield positions throughout his big league career. He’s primarily been a third baseman, but he does have nearly 400 innings at first base under his belt. It’s at least possible that the Astros could use the payroll space created by a potential Tucker trade to re-sign Bregman, play Paredes at first base and then simply be content to add a player with Smith’s overall upside to the upper tiers of their system. Smith isn’t likely to be a big league option until 2026 anyhow, and his bat is his calling card; a move to an outfield corner isn’t out of the question at some point.

Paredes, 26 in February, went from the Rays to the Cubs at the 2024 trade deadline and struggled in his new environs. The versatile slugger hit .250/.342/.488 and belted 31 homers for Tampa Bay in 2023 and looked well on his way to approximating that production in ’24 when he hit .245/.357/.435 with the Rays prior to the trade. With Chicago, however, Paredes slumped to a tepid .223/.305/.307 slash in 212 plate appearances.

Those struggles notwithstanding, Paredes is a .234/.338/.437 hitter (123 wRC+) who’s swatted 70 homers while playing four different positions across the past three seasons. He’s walked in a strong 11.2% of his plate appearances during that span against a 17.3% strikeout rate that’s about five percentage points lower than average. He’s projected to earn $6.9MM in 2025 and is under club control through the 2027 season. He’d be a long-term add for the Astros who can help out at a variety of positions and who would offer a solid bat against righties and plus production against southpaws (.274/.366/.456). On top of that, he ranked third among all qualified MLB hitters in pull percentage this season and posted the second-lowest ground-ball rate in that same set. An extreme-pull righty bat with that kind of penchant for elevating the ball seems almost tailor-made for Houston’s short left field porch.

Smith, meanwhile, was just selected with the No. 14 pick last summer and signed for a bonus a bit north of $5MM. The Florida State product absolutely torched minor league pitching with a .313/.396/.609 slash in 134 plate appearances across two Class-A levels and Double-A. It was one of the best debut performances of any draftee and only served to further elevate his already considerable prospect stock. Baseball America ranks Smith sixth in a deep Cubs farm system that in 2024 boasted six of the game’s top 100 prospects. Smith will likely be included on several top-100 rankings ahead of the 2025 season.

Currently, RosterResource projects the Astros for a $215MM bottom-line payroll with nearly $234MM of luxury tax obligations. That leaves them about $7MM shy of this season’s $241MM tax threshold. Moving Tucker would open up quite a bit of breathing room, as would a trade of reliever Ryan Pressly, whose name has also frequented the rumor circuit this offseason. He’s owed $14MM but can veto any trade scenario as a player with 10-and-5 rights (10 years of MLB service, including the past five with the same team). Astros general manager Dana Brown said early in the offseason that his club might need to be “creative” to address roster needs amid payroll uncertainty, and talk of potential deals involving Tucker, Pressly and lefty Framber Valdez all fit under that umbrella.

Latest On Yankees’ Offseason Plans

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The Yankees’ offseason was largely focused on Juan Soto until he agreed to a new deal with the Mets, which has pushed the Yanks towards various backup plans. They now have agreements in place with Max Fried and Jonathan Loáisiga but there’s still plenty more work to be done. They are seemingly looking for an outfielder, a couple of infielders and more bullpen help. That could come from further free agent signings but they also have a rotation surplus that could help them on the trade market.

One name they have frequently been connected to is Cody Bellinger of the Cubs. He is capable of playing either the outfield or first base, two spots where the Yankees need help, though Mark Feinsand of MLB.com reports that the Yanks probably view Bellinger as a better fit in left field.

The Yanks are expected to move Aaron Judge back to right field, after he served as the club’s primary center fielder while sharing the roster with Soto. Now that Soto is gone, it seems the plan is to give Jasson Domínguez a chance to seize the center field job, with Trent Grisham around as a glove-first insurance option. They would still need a solution in left, since Alex Verdugo is now a free agent, though Bellinger is a possibility there. Bellinger has played left field far less than center or right but there’s no reason to think he couldn’t handle himself over there.

Lining up with the Cubs on value may be an issue, however. Jon Heyman of The New York Post reports that the Cubs are hoping for the Yankees to take on most of his remaining contract, while the Yanks think the Cubs should be eating some more money in the deal.

Bellinger had a chance to opt out of his deal last month and didn’t take it, which implies that he thinks his current contract is better than what he could get on the open market, at least for now. He is set to make $27.5MM in 2025, then with a choice between a $5MM buyout or a $25MM salary in 2026. If he were a free agent right now, he could perhaps secure a long-term deal with a guarantee larger than the $52.5MM he’s currently owed, but his current deal has short-term appeal. There is still a path towards him having a good season in 2025, banking $32.5MM this year and returning to the open market.

That would be the best case scenario for the Yankees or any acquiring team. If Bellinger produces at a level commensurate with that salary and leaves, that’s a nice scenario for the upcoming campaign. But there’s also the alternate reality where he disappoints, it overpaid this coming season and then sticks around for 2026 as well.

Bellinger’s inconsistent career makes either path possible to see and teams will have differing opinions about which is more likely or what they are willing to risk for the right to take a chance. At the moment, it seems the Yankees and Cubs aren’t in alignment on the calculations but Heyman says progress has been made this week.

Though he won an MVP award back in 2019, Bellinger struggled immensely in 2021 and 2022 while trying to get back in form after shoulder surgery. His past two seasons have both been good but to varying degrees. He hit .307/.356/.525 for a 136 wRC+ in 2023 while stealing 20 bases, but then hit .266/.325/.426 for a 109 wRC+ this year while swiping nine bags.

Another possible target area for the Yanks is third base. They do have Jazz Chisholm Jr. as an in-house possibility there, but he could move him to second base if they were to acquire someone like Nolan Arenado or Alex Bregman for the hot corner.

The Cardinals are exploring the market for Arenado, who has a full no-trade clause. It was reported earlier this week that Arenado is willing to approve trades to six teams. The Yankees weren’t on there but it’s possible that the list wasn’t exhaustive. Feinsand relays that it’s expected Arenado would approve a trade to the Bronx. That’s a logical conclusion since Arenado seems to want to play for a contender and there’s no doubting the Yanks qualify there. They just made it to the World Series and are clearly being aggressive in ramping up for another push next year.

Arenado hasn’t been his usual self over the past two years, however, and it’s fair to wonder if he can get back there now that he’s on the cusp of his 34th birthday. He hit .293/.358/.533 for a 149 wRC+ as recently as 2022 but has slashed a combined .269/.320/.426 for a 104 wRC+ over the past two years. His strong third base defense still makes him an attractive option but, like Bellinger, he’s making notable money. He is set to make $74MM over the next three years, though the Rockies are covering $10MM of that and there are also deferrals.

Bregman is likely viewed as a better option in the short term, but there are complications. He’s going into his age-31 season, making him notably younger than Arenado. He doesn’t quite have the same defensive reputation but is above average in the field. He hit .260/.315/.453 for a 118 wRC+ inf 2024 and was even better after an early-season slump. He hit .280/.329/.509 from May 9 through the end of the year for a 137 wRC+.

But as a free agent, he’s going to command a contract larger than what’s left on Arenado’s deal. MLBTR predicted him for a contract worth $182MM over seven years and the market has been hot so far this winter, so that might be selling him short at this point. There’s also the lingering resentment from the 2017 sign-stealing scandal that was eventually brought to light, creating enough bitterness that general manager Brian Cashman brought it up unprompted during a recent appearance on MLB Network. However, Bryan Hoch of MLB.com reports that Bregman’s involvement in that scandal would not stand in the way of the Yankees pursuing him.

In the bullpen, both Feinsand and Hoch mention that the Yankees are interested in left-hander Tanner Scott for their bullpen. He just wrapped up a season in which he posted a 1.75 earned run average, 28.6% strikeout rate, 12.2% walk rate and 50% ground ball rate. The Yankees have a longstanding affinity for ground ball guys and don’t really have a left-handed reliever on the roster at the moment, with Tim Hill and Tim Mayza now free agents.

Scott would be a great fit but should be popular and could earn a notable contract. MLBTR predicted him for $56MM over four years and the aforementioned hot market could make that estimate low at this point.

As the Yankees assess those possible acquisitions, they are also going to be fielding offers on their starting pitchers. They now have Fried, Gerrit Cole, Carlos Rodón, Luis Gil, Clarke Schmidt, Nestor Cortes and Marcus Stroman as established rotation options, plus depth pieces like JT Brubaker, Cody Poteet, Will Warren and others. Cortes and Stroman have been in trade rumors before but Hoch reports that Gil and Schmidt have drawn interest and Cashman tells him that the club will be “open-minded to all possibilities.”

It’s unsurprising that Gil and Schmidt would draw interest. Gil just won American League Rookie of the Year after posting a 3.50 ERA for the Yanks. Schmidt had a 2.85 ERA but was limited by injury to just 16 starts. Gil is still in his pre-arbitration years and can be controlled through 2028 while Schmidt is projected for a modest $3.5MM next year by MLBTR contributor Matt Swartz and can be controlled through 2027.

Storman and Cortes would have less trade value. Stroman is coming off a middling season in which he posted a 4.31 ERA and got bumped from the rotation by the end of the year. He’s going to make $18MM next year and could also unlock a player option of the same value for 2026 if he pitches 140 innings next year. Cortes is now one year away from free agency with a projected $7.7MM salary next year. He had a decent 3.77 ERA this past year but his strikeout rate fell for the third year in a row and he missed a lot of time due to injuries in 2023.

Though Gil or Schmidt would have more value to another club, that’s also true of the Yankees. Their competitive balance tax number is now estimated at $264MM, per RosterResource, meaning they are already over the second tax tier of $261MM and within striking distance of the $281MM third tier. Going over that third tier leads to escalating penalties and also the club’s top draft pick being pushed back ten spots. That is seen as a line for some clubs but the Yanks just finished 2024 with a CBT number of $313MM, so it may not be any kind of red line.

There are still various paths forward for the Yanks via free agency and trade. They’ve also been linked to Christian Walker, Kyle Tucker and plenty of others. Though it’s now the middle of December, their offseason is still very much in the early stages.

Latest On Seiya Suzuki’s Trade Candidacy

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While the overwhelming majority of the focus on the Cubs’ outfield mix this winter has been on the trade candidacy of Cody Bellinger, teammate Seiya Suzuki has emerged as an intriguing trade candidate in his own right in recent weeks. Previous reporting has described the club as “determined” to move one of the two outfielders, and today Suzuki’s agent Joel Wolfe offered notable insight on the possibility of his client getting dealt, as relayed by ESPN’s Jesse Rogers.

Wolfe told reporters (including Rogers) this afternoon that Cubs president of baseball operations Jed Hoyer approached him last night about which teams are interested in Suzuki’s services. Notably, Suzuki has a full no-trade clause, meaning that he and Wolfe are free to reject any trade proposal involving the outfielder. Wolfe suggested that while Suzuki is theoretically open to a trade, he added that “it’s a pretty small universe” in terms of teams he would be willing to entertain being moved to.

In addition to confirming that there are teams at least inquiring on Suzuki’s availability, Wolfe’s comments also revealed one potential motivation for Suzuki to entertain trade offers: his desire to play the outfield on a regular basis. Following the emergence of top prospect Pete Crow-Armstrong as the club’s everyday center fielder last summer, Suzuki found himself parked at DH on a regular basis once the club’s outfield mix was fully health and Bellinger cemented himself as the club’s regular right fielder. That’s a situation he was evidently displeased with, as Wolfe suggested that Suzuki likely “would not have signed with a team” who pitched being their everyday DH to him in free agency.

That potential source of discord between player and team shines a new light on the Cubs’ efforts to trade either Suzuki or Bellinger this winter. With Ian Happ locked in as the club’s left fielder and Crow-Armstrong having cemented himself in center, it’s undeniable that the club’s best defensive alignment with their current group of players involves Bellinger in right field with Suzuki at DH. Suzuki was well-regarded defensively for his work in the outfield during his NPB days but has oscillated between average and below average throughout his three seasons in the big leagues according to defensive metrics. His -3 Outs Above Average last year ranked 33rd among 42 qualified right fielders. While Bellinger did not get enough reps to qualify, he’s earned +2 Outs Above Average for his work across all three outfield spots in two seasons with the Cubs and is generally regarded as a plus defender in an outfield corner.

Of course, that’s not to say the Cubs would necessarily prefer to trade Suzuki. Indeed, the club’s apparent aggressiveness in shopping Bellinger suggests just the opposite, and it’s not hard to see why. For one things, Bellinger’s $27.5MM salary in 2025 eclipses the $19MM Suzuki is owed this year, and Bellinger’s player option for 2026 offers Chicago less certainty moving forward than Suzuki’s guaranteed contract. What’s more, Suzuki is a better hitter and perhaps even the best hitter on the team. The 29-year-old’s .283/.366/.482 (138 wRC+) slash line this year dwarfs Bellinger’s own line of .266/.325/.426 (109 wRC+), and Suzuki has long been a statcast darling who hits the ball hard and takes his walks compared to Bellinger’s low exit velocities and contact-oriented approach.

To that end, Cubs GM Carter Hawkins spoke to reporters (including Meghan Montemurro of the Chicago Tribune) this afternoon and downplayed the likelihood of a trade.

“We don’t want to trade Seiya,” Hawkins said, as relayed by Montemurro. “but, look, as [Wolfe] talked about there’s people interested in great players and so if teams come asking those are at least conversations that we’re willing to have, but I really don’t think much is going to come of it.“

Hawkins’s comments lend further credence to previous reporting regarding Suzuki’s availability that suggested while the Cubs were willing to entertain offers for the slugger, a deal was only likely to come together if Chicago was unable to trade Bellinger. To this point, Bellinger has received reported interest from the Yankees, Mariners, Astros, and Diamondbacks at the very least, suggesting that a Bellinger trade remains the more likely outcome unless the market for his services falls apart in the coming days and weeks.

Yankees Expected To Move Aaron Judge Back To Right Field In 2025

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Reigning AL MVP Aaron Judge is currently expected to move back to his longtime position of right field for the 2025 season, according to MLB.com’s Bryan Hoch. Judge has appeared in right field during more than 75% of his career games in the outfield but played center field almost exclusively in 2024 in order to accommodate the addition of Juan Soto to the club’s lineup. Now that Soto has departed for Queens on a record-breaking deal, however, Judge will be able to return to his old stomping grounds.

“We’re not afraid to run [Judge] out in center like we’ve done, but I think it makes sense to have him over in right,” Yankees GM Brian Cashman said Monday, as relayed by Hoch. He went on to suggest that sliding Judge back to his natural position offers top outfield prospect Jasson Dominguez a “clear lane” to capture the starting center field job entering Spring Training, though Hoch notes that Cashman added he isn’t currently ready to anoint the 21-year-old as the club’s starter for next season.

Even if the club ultimately opts to send Dominguez back to Triple-A (where he’s hit well but has just 53 total games under his belt) to open the 2025 campaign, the club figures to have number of options they could consider that would keep Judge in right. Perhaps the most obvious internal solution for center outside of Dominguez is Trent Grisham, who the club avoided arbitration with last month by agreeing to a $5MM contract despite the fact that Grisham was strictly used as a bench player by the club after being acquired from the Padres alongside Soto last winter. The 28-year-old appeared in 76 games last year as a late-inning defensive replacement or to fill in for Judge in center field when the slugger had the day off or was DH’ing for the day, but received just 209 plate appearances total despite being an everyday player in San Diego in each of the previous four seasons.

Grisham’s .190/.290/.385 slash line was good for a decent 91 wRC+, and a .217 BABIP that was well below his career norms may suggest room for positive regression going forward. That decent bat combined with an elite glove at a premium position makes Grisham a plausible candidate for a starting role, and Hoch suggests the club could look for a right-handed center fielder to pair with Grisham at the position this winter. Grisham and Dominguez aren’t the only internal options the club has in center, as Jazz Chisholm Jr. has two seasons’ worth of experience at the position from his time in Miami. With that said, Hoch did not mention Chisholm as even a theoretical candidate for the position headed into 2025, and all signs point to the Yankees planning to use the 26-year-old sparkplug at either second or third base next year.

Turning back to Grisham, the extremely thin market for center fielders this winter could pose an obstacle to any plans of platooning him in center as the Yankees would likely be limited to light-hitting bench players with impressive defense like Harrison Bader, Michael A. Taylor, and Cristian Pache. One other potential addition the Yankees could make to their outfield mix who is capable of playing center would be Cubs outfielder Cody Bellinger. The Yankees are known to have at least checked in on the 2019 NL MVP this winter, and Hoch reiterates that the club is “intrigued” by 29-year-old. Bellinger is coming off a down season in Chicago where he hit a solid but unspectacular .266/.325/.426 (109 wRC+) in 130 games. While Bellinger’s 7.9% walk rate was solid and his 15.6% strikeout rate was genuinely impressive, he mustered only 18 home runs with the Cubs this year after clubbing 26 the year prior.

That’s still solid production, but a combination of Bellinger’s hefty $27.5MM salary for 2025 and the Cubs’ deep mix of outfield options has led the club to shop him quite aggressively this winter. According to Hoch, the Yankees’ interest in Bellinger stems at least in part from his positional versatility. Bellinger is a roughly average defensive center fielder at this stage of his career, offering less upside with the glove than a player like Grisham or even Dominguez but more than capable of handling the position on a regular basis if needed. That defense goes from average to well above average when Bellinger is parked in either outfield corner, and he’s also capable of handling first base with nearly 2500 career innings in the majors at the position. Judge stands as the only player locked into everyday reps in the club’s outfield mix next year with Soto now out of the picture, and given the club’s hole at first base it’s easy to see how acquiring a player like Bellinger could offer them plenty of flexibility as they look to retool their roster with a number of possible targets for both the infield and outfield on the table.

Cody Bellinger Generating Trade Interest, Seiya Suzuki Trade Less Likely

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Cody Bellinger is quickly becoming one of the most talked-about trade candidates of the offseason. Earlier this month, Joel Sherman of The New York Post reported that the Cubs were “determined” to trade one of Bellinger or Seiya Suzuki. Sahadev Sharma of The Athletic added further detail to that story today, noting that the team would prefer to part with Bellinger. Dealing Suzuki doesn’t seem like anything more than a backup plan in case no Bellinger trade comes together. 

Sharma goes on to mention that there “seems to be real interest” in Bellinger on the trade market, thus pouring cold water on the possibility of a Suzuki deal (at least for now). Indeed, Bellinger has already been linked to the Diamondbacks, Mariners, Yankees, and Astros this winter, and Sharma suggests that the market for Bellinger could heat up now that Juan Soto has signed with the Mets. It seems the Cubs have been shopping Bellinger as a second choice for teams that missed out on the lefty-batting superstar. Bellinger is no Soto, but he can provide above-average offense from the same side of the plate and a much better glove in the outfield. He may not be a perennial MVP contender, but he does have superstar upside, even if his 2019 MVP season is getting smaller and smaller in the rearview mirror.

As for Suzuki, it’s not hard to understand why the Cubs would prefer to hold onto the righty bat. He is set to make $19MM in each of the next two seasons, while Bellinger will make $27.5MM in 2025 and has a player option for $25MM in 2026. Trading Bellinger would free up more payroll space for the coming season and would free the Cubs of his player option; as the name suggests, player options are inherently player-friendly. Furthermore, Suzuki is coming off a stronger season than Bellinger. While Bellinger is a better defender and baserunner, Suzuki is a more reliable middle-of-the-order bat. Bellinger’s offense has been much less stable in recent years. Thus, Suzuki looks like a bargain at $19MM per year, while Bellinger presumably would have opted out of his contract this winter if he thought he could do better on the open market.

For all of those same reasons, Suzuki’s trade market would probably be more robust than Bellinger’s. However, it doesn’t seem as if the Cubs are necessarily trying to maximize their return. Rather, president of baseball operations Jed Hoyer might simply need to create more payroll flexibility to address areas of greater need on the roster. After all, the Cubs have no shortage of outfield and/or designated hitter types in the organization. That includes center fielder Pete Crow-Armstrong, left-fielder Ian Happ, and top prospects Kevin Alcántara, Matt Shaw, and Owen Caissie.

What the Cubs could use more of is pitching. After signing Matthew Boyd, they reportedly remain interested in adding another starter (per Sharma and Patrick Mooney of The Athletic). Over the past few days, the club has been linked to free agent Walker Buehler and trade candidates Jordan Montgomery and Garrett Crochet. As much as they could use another arm, however, the Cubs might not be willing to pay for another starter without first removing some money from the books. On a related note, Sharma says Chicago has also shown “some interest” in Jack Flaherty but only if his price tag is low enough.

In theory, the Cubs should be able to sign a top-end starting pitcher like Flaherty without trading Bellinger or Suzuki. Their estimated 2025 payroll currently sits around $185MM, according to RosterResource. That’s $43MM lower than last season’s final estimate. They’re also about $40MM under the first luxury tax threshold, which should give them plenty of wiggle room even if they’d like to get back under the tax in 2025. However, Chicago’s eagerness to shop Bellinger and reluctance to court Flaherty certainly suggest that Hoyer is working under payroll constraints as he looks to get the Cubs back to the playoffs for the first time in his tenure as president of baseball operations.

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