After the signing of Hunter Harvey was reported over the weekend, the Chicago Cubs announced the move on Wednesday. Harvey arrives in Chicago with a $6M price tag, and the team's 40-man roster now sits at 36. Taking into account the four open roster spots the Cubs have, along with the money they've spent and have available this offseason, it stands to reason that there is a larger move looming.
This certainly could be perceived as wishful thinking, but the math does suggest that Jed Hoyer and Co. are planning on spending heavily on something before spring training starts.
Cubs confirm signing RHP Hunter Harvey to a one year contract. ( $6 million ) 40 man roster at 36.
— Bruce Levine (@MLBBruceLevine) December 31, 2025
After Harvey's signing, the Cubs' 2026 luxury tax payroll is estimated to be at $209,620,177. Roughly, that leaves Chicago with a little under $35M in space before reaching the first level of the CBT.
If the Cubs were penny-pinching this offseason, then the moves the team has made don't make sense. While there was no question that the bullpen needed to be reconstructed, in an offseason where spending was going to be in question, the front office spending nearly $30M on relief pitchers doesn't quite add up with how they have operated in past years.
The Chicago #Cubs have spent $29.5M upgrading and supplementing their bullpen this offseason (in terms of CBT payroll added).
— Michael Cerami (@Michael_Cerami) December 31, 2025
Phil Maton: $7.25M
Hunter Harvey: $6M
Caleb Thielbar: $4.5M
Hoby Milner: $3.75M
Jacob Webb: $1.5M
Colin Rea: $6.5M*
*Rea had an option
Even with Hunter Harver's signing official, the math points to the Cubs making a larger move this offseason.
As much as the bullpen had to be addressed, it wouldn't make sense for Hoyer to spend a large portion of the Cubs' available resources this offseason on veteran relief pitchers. Mostly because their more pressing need is for an established starting pitcher who has the potential of slotting near the top of the rotation.
If not spending on a top-of-the-rotation starting pitcher, then spending on Alex Bregman while also trading for a cost-controlled arm.
Regardless, the point remains that the math suggests there is another shoe to drop for the Cubs this offseason. It's certainly possible that the move is for Tatsuya Imai.
Imai's arrival likely wouldn't take up all of the remaining space the Cubs have, but would get the team closer to where their payroll was at the end of the 2025 season--$227,387,804. It's not going over the luxury tax, but it does match the messaging the Cubs had at the start of the offseason.
Unless the Cubs truly are trimming payroll, the math does point to the offseason not being over yet. Chances are the next move will come into focus in the days ahead.
