The Chicago Cubs are poised to make a significant acquisition, breaking their offseason silence by reportedly reaching an agreement with Japanese left-handed pitcher Shota Imanaga on Tuesday evening. While the initial details were somewhat unclear, subsequent reports suggest that the contract involves several intricate components. Without delay, let’s delve into the specifics.
First and foremost, the agreement entails a four-year deal amounting to $53 million. This translates to an average annual value of approximately $13.25 million. Notably, the contract includes provisions for both an extension and opt-out clauses, adding an extra layer of complexity.
Committed to the Long Term:
Should the Cubs express a desire to retain Imanaga beyond the initial four years, they have the option to extend the contract. This extension can only take place after the second or third year of the deal, transforming the agreement into a five-year commitment. Consequently, the total contract value increases to $80 million, elevating the average annual value to $16 million. Notably, any extension would likely result in a backloaded structure, but the incremental rise in costs remains manageable for the team.
The attractiveness of this prospect for the player is clear-cut—exceptional performance could lead to additional earnings. For the Cubs, the extension provides an economical and efficient means to ensure a left-handed presence in the starting rotation, especially if prospects fail to develop or injuries impact other pitching options. This arrangement aligns with the team’s strategic goal of maintaining stability in the left-handed pitching department for the foreseeable future.
However, the contract isn’t solely about the long term:
Opting Out of the Contract:
In the second and third years of the agreement, the Cubs have the flexibility to either extend or maintain the original four-year, $53 million contract. If an extension is not pursued during this period, the deal remains unchanged. At this juncture, Imanaga is afforded protection, as he can either continue with the original four-year arrangement or exercise his right to opt out, becoming a free agent after the conclusion of either of those years. This provision ensures a degree of flexibility for both the player and the team, depending on the evolving dynamics of the player’s performance and the team’s needs.
In theory, if Imanaga exercises his opt-out in Year 2 (assuming the Cubs decline an extension), the deal could be reduced to a two-year, $26.5 million agreement. Similarly, if the opt-out is triggered after Year 3, the deal could take the form of a three-year, $39.75 million arrangement.
Regardless, the structure of this deal proves advantageous for both the player and the team. The intricacies involved represent a departure from the Cubs’ typical approach over the last decade, suggesting a potential shift in expectations for future contracts.
What’s Up Next?
Upon the completion of Imanaga’s physical examination, the official signing by the club is anticipated. Subsequently, he will join Justin Steele, Jameson Taillon, and Kyle Hendricks as secured members of the rotation for the upcoming season. Despite these developments, there is still work to be done, and the Cubs are expected to remain active in the free agency market. Adding two more hitters and bolstering the bullpen are likely priorities on Jed Hoyer’s agenda. Potential signings could be revealed during the upcoming Cubs Convention this weekend, but the team’s commitment to making improvements is evident.
