How much money will the Cubs spend this offseason?

Rumors of the Cubs being in on top free agents are already swirling, even before the postseason is over. Will they really be big spenders this winter? They’d better be.

The Chicago Cubs enter the offseason and free agency with little to no financial limitations, according to team owner Tom Ricketts. This would be exciting news to fans – if they were not told the exact same thing last year. In a year with a historically large pool of talent, Chicago made just two noteworthy signings: Japanese outfielder Seiya Suzuki and pitcher Marcus Stroman, who signed a three-year $71million deal. Although great pick-ups for the Cubs, it was not enough to make them competitive – even in a very mediocre NL Central. As we turn the page to 2023, we are all expecting more moves with better results.

After the season completed, Ricketts sent a letter to Cubs fans on their mailing list stating how Hoyer and his team are ready to turn the page and reload the roster. Although this message is eerily similar to the message fans received after the 2021 season, there is optimism the front office will be in on top free agents hitting the open market this offseason.

The Chicago Cubs say they plan to spend, so that is what should be expected

At this moment, the 2023 payroll is just $91.5 million. The MLB’s Competitive Tax Threshold is projected to be $233 million, and the Cubs should be expected to surpass this. This means there is plenty of room to spend for top-tier talent that will make this team competitive again.

Does that mean paying the newly crowned AL single-season home run king Aaron Judge? It should definitely lead to an upgrade in the infield by adding a Trea Turner or a Xander Bogaerts. Perhaps they decide to make a move on a top-tier starting pitcher like Jacob deGrom.

Time will tell what the team decides to do to improve this roster. But Cubs fans, you should know this – the money is there and plentiful to make this team competitive very quickly. We’re not talking about having to choose between which needs to address. Get ready for what should be an eventful offseason.