The Chicago Cubs have officially signed outfielder/first baseman Cody Bellinger to a three-year deal, as announced on Tuesday. While the financial terms were not disclosed in the team's press release, reports suggest the contract is valued at $80 million in total, with opt-out clauses available after the 2024 and 2025 seasons.
This contract structure benefits both Bellinger and the Cubs, allowing the player to potentially seek a long-term deal after this season while keeping the team competitive for a division title. Despite signing Bellinger, the Cubs still have approximately $11.7 million in payroll flexibility before reaching the first tier of the competitive balance tax threshold of $237 million in 2024.
The Cubs' front office has emphasized a strategic approach to spending, aiming for value in deals and avoiding excessive expenditures. While they have the financial capacity to make significant signings, they have historically focused on 'intelligent spending' rather than surpassing the luxury tax threshold.
With room in their budget, the Cubs could potentially address areas of need such as upgrading at third base or bolstering their pitching staff. Options include pursuing players like Matt Chapman for third base or adding pitching depth with someone like Michael Lorenzen.
Having acquired Bellinger and with additional payroll flexibility, the Cubs have the opportunity to further enhance their roster and increase their chances of contending for a playoff spot. The absence of a clear favorite in the NL Central provides the Cubs with a favorable position to make strategic roster improvements.
While Bellinger's signing strengthens the team, the Cubs have the financial freedom to make additional impactful moves to solidify their roster for the upcoming season.
