Cubs' 2026 payroll now looks wildly different, thanks to Shota Imanaga

It's been an eventful week for the Chicago Cubs - somewhat surprisingly so. After Shota Imanaga hit free agency after the Cubs declined to extend his contract through 2028, and he declined his team option for next season, Jed Hoyer traded veteran reliever Andrew Kittredge to the Baltimore Orioles for cash considerations, freeing up even more financial leeway as the offseason gets underway.

By some estimates, the Cubs currently have a more than $100 million gap between their current payroll and the first CBT threshold. Arbitration raises for several players will eat into that a bit, with Spotrac projecting Chicago for a $158 million payroll, but the point remains the same: money shouldn't be the issue this winter.

That's good news - especially if Imanaga doesn't return (assuming the Cubs make a qualifying offer) - because even with the left-hander in the fold, this is a starting rotation that needs some firepower. Justin Steele will return at some point next year, a major boost to the staff, but without Imanaga, you're looking at Matthew Boyd, Cade Horton and Jameson Taillon as the only major players in that picture.

Cubs will have the money to spend in free agency this offseason

Several of the top free agents available could fit the bill, namely former Cubs farmhand Dylan Cease, who has already been connected to Chicago this fall. And the team's needs stretch far beyond just the starting rotation. The relief corps needs to be completely rebuilt, as is so often the case thanks to Hoyer's approach to bullpen construction, and the team's bench needs an overhaul after a disappointing 2025, as well.

Factor in projections that see the Cubs' power output dropping off a cliff, and all of a sudden, spending $100 million becomes pretty easy. A second run at Alex Bregman in free agency makes some sense and landing a true out-getter in the late innings would be nice, although few expect Hoyer to change his recipe there.

With the CBA expiring in a year and Chicago having aligned its long-term obligations almost perfectly with that timeline, nobody knows how Tom Ricketts will direct Hoyer to allocate resources. However, at least at first glance, there should be sufficient funds available for the Cubs to act like the large-market team they are.