Cubs News: Cade Townsend signs under-slot, former first round pick returns, 2026 payroll

There's excitement surrounding Chicago Cubs' 2026 first-round pick Cade Townsend, considering there's already belief he's one of the organization's top prospects. Given his pitch-mix, not only does Townsend project as a starting pitcher, but he has the impression of someone who could move quickly through the system.

The Cubs aren't wasting any time, less than a week after they selected Townsend, they signed him to his contract. As it turns out, with the deal, the Cubs are saving around $800K.

Cade Townsend signs deal, immediately gets anointed the top arm in the Cubs' system

Notice the last line that MLB Pipeline's Jim Callis casually passed along, suggesting that Townsend immediately becomes the top pitching prospect in the Cubs' system.

Previously, Jaxon Wiggins was the unquestioned top pitching prospect in the system. While Wiggins has flashed the potential of being a top-of-the-rotation pitcher, there's a question of durability. The Cubs were extremely cautious with his usage last season, and spent most of the first three months of the 2026 season dealing with an elbow injury.

Wiggins has since returned to Triple-A Iowa, but the shine might be wearing off ever so slightly. In a perfect world, hopefully both Townsend and Wiggins become long-term fixture in the rotation when all is said and done.

The Cubs also agreed to an under-slot deal with third-round pick Carson Jasa, saving $50K.

Cubs bring back Jake Woodford on a minor-league deal, hopefully they don't become that desperate

Former St Louis Cardinals first-round pick Jake Woodford is returning to the Cubs on a minor-league deal. Circumstances forced the Cubs to sign woodford to a major-league deal earlier this month, and his first appearances was just about as bad as anyone expected. After the Cubs released Aaron Bummer and Liam Hendriks earlier this week, Woodford is additional depth at Triple-A Iowa.

The hope is the Cubs aren't that desperate moving forward. The pitching staff should be getting healthy in the weeks ahead, and there's reason to believe the trade deadline should bring meaningful additions to both the starting rotation and bullpen.

Cubs have already crossed into the luxury tax ahead of the 2026 MLB trade deadline

In case you're keeping track at home, the consensus is the Chicago Cubs have crossed into the luxury tax ahead of the 2026 MLB trade deadline. FanGraphs has the Cubs payroll at $248,151,922. Spotrac estimates the Cubs payroll to be at $253,337,628. As far as the difference between the two, just note that each site uses different calculation and both are likely different than what the Cubs have through their own internal calculations.

Regardless, the Cubs still have plenty of room to operate at the deadline, assuming they want to stay under the second threshold at $264 million. Money shouldn't be a problem for the Cubs this summer.

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