Cubs have a ton of club options on their hands heading into an uncertain winter

We know about the major pieces of the puzzle set to depart via free agency at the end of the season - most notably outfielders Ian Happ and Seiya Suzuki. But a number of club and mutual options could have just as big an impact on what the Chicago Cubs' list of needs looks like this winter.

Let's quickly roll through the full list - and give you predictions on how each one plays out. And, remember, as if all this uncertainty wasn't enough, we're hurdling toward another potential lockout, with the CBA expiring this fall.

Predicting how Cubs' club and mutual options will play out this fall

SP Colin Rea: $7.5MM club option ($1MM buyout)

Colin Rea has been a godsend over the last year-plus for the Chicago Cubs. Forced into the rotation last year when Justin Steele went down for the season in April, the veteran right-hander tossed more innings than anyone on the team other than Matthew Boyd, working to a 3.95 ERA in 27 starts and five relief appearances with an equally solid 4.11 FIP.

This year hasn't seen him have the same success after he returned in free agency, with a 4.83 ERA/4.44 FIP, but, again he's been moved to the rotation full-time - this time for the injured Cade Horton. In a best case scenario, he's a long-relief/swing man. Unfortunately, that's not how the Cubs have had to use him.

Prediction: Cubs take the buyout, but don't rule out a reunion in free agency

SP Matthew Boyd: $15MM mutual option ($2MM buyout)

Matthew Boyd was a first-time All-Star in 2025, but was pretty clearly out of gas by the time the season reached the finish line. The left-hander tossed 179 1/3 regular season innings for manager Craig Counsell, working to an impressive 3.21 ERA - including a 2.34 clip prior to the All-Star break.

His 2026 got off to an inconsistent start - and then was put on hold when he suffered a freak knee injury playing with his kids. Meniscus repair sent him to the IL and left the Cubs in a dicey situation rotation-wise. Regardless, it's rare that both player and team agree to pick up a mutual option, so this is probably it for Boyd on the North Side.

Prediction: Mutual option is declined by both sides, Boyd hits the open market

RP Hunter Harvey: $8MM mutual option ($1MM buyout)

Do I even need to say it? The Cubs are going to take the buyout and send Hunter Harvey on his way. One of the team's biggest offseason pitching additions has been a disaster and is currently on the 60-day IL with a stress reaction in his right triceps.

Even prior to the injury, Harvey wasn't exactly a lockdown weapon for Chicago. This was a gamble by Jed Hoyer and the front office and it's played out how most expected it would: an injury-prone pitcher getting injured, leaving a massive hole in the team's bullpen mix.

Prediction: Mutual option is declined by the Cubs, Harvey becomes a free agent

C Carson Kelly: $7.5MM mutual option ($1.5MM buyout)

Carson Kelly is one of the team's best free-agent signings in recent memory. Since the start of the 2025 season, the veteran has been worth 4.6 bWAR and has a 121 OPS+ to go with solid defensive marks behind the plate.

The hope is Miguel Amaya and Miguel Ballesteros can be the long-term tandem at the catcher position but, even if that's not the case, there's no way Kelly picks up his end of the mutual option. A strong 2026 showing sets him up nicely for another multi-year deal on the open market, even heading into his age-33 season.

Prediction: Mutual option is declined by Kelly, who looks for a new home this winter.

RP Caleb Thielbar: $6MM mutual option ($500K buyout)

Even if he's solid the rest of the year, there's no way the Cubs are giving Caleb Thielbar, who will be 40 next January, $6 million to pitch for them next season.

The veteran left-hander was brilliant last year in his first season with Chicago, pitching to a 2.64 ERA in 58 innings of work and, despite a brief IL stint for a hamstring injury, has delivered more of the same early this year (2.79 ERA, 12 appearances). But there are better uses for this money and Hoyer knows that.

Prediction: Mutual option declined by the Cubs as bullpen turnover continues

RP Jacob Webb: $2.5MM club option (no buyout)

Jacob Webb has been a pleasant surprise in the bullpen this year. The right-hander has already made 22 appearances and is the proud owner of a 2.95 ERA and 10.4 K/9. Given the injuries the Cubs have battled, his effectiveness has been a huge win for Counsell.

Keep this up over the course of 162 and $2.5 million feels like a no-brainer. Chicago brings him back, giving the team something it's lacked at times in recent years: some stability in the bullpen.

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