Chicago Cubs offseason news, rumors, 2023 payroll and more

After missing the postseason for the second consecutive season in 2022, the Chicago Cubs enter the offseason with the goal of returning to contention in 2023. Cubs president of baseball operations Jed Hoyer has insisted that the team will be active in free agency this offseason with the emphasis being on spending intelligently. Cubs chairman Tom Ricketts has backed Hoyer's statements by saying that the team will have plenty of resources at their disposal this offseason.

There is no question that the goal has certainly shifted for the Cubs this offseason. When the Cubs traded away their 2016 World Series winning core at the Major League Baseball trade deadline in 2021, it was clear that the team was going all out in their efforts to rebuild the farm system. There efforts were not for naught as the 2023 season saw breakout performances in their minor league system from the likes of Pete Crow-Armstrong, Alexander Canario, Caleb Killian, and Hayden Wesneski.

Coupling the breakout performances from the Cubs top prospects combined with the team's second half record of 39-31 in 2022 and there is a clear sense that the timeline for the Cubs to return to contention at the Major League level has moved up.

The biggest area of need for the Cubs as they enter the offseason is on offense. Willson Contreras will likely be playing elsewhere after declining the qualifying offer that the Cubs extended him and for a team that already struggled to score runs, losing their primary offensive contributor from last season is going to heighten that need.

Time will tell in regard to how active the Cubs will be this offseason but for now, lets take a look at where things stand with the team. Here at Cubbies Crib, we're going to keep a tracker of all the news, rumors, and transactions that fans need to know for the remainder of the offseason.

Cubs 2023 Payroll Information

Cubs 2023 active payroll as of today: $92,460,000

Cubs 2023 projected payroll ceiling: $141,853,345

Cubs' payroll information via Spotrac

Cubs 2022-2023 Transactions

Cubs released outfielder Michael Hermosillo
Cubs released left-handed pitcher Sean Newcomb
Catcher Willson Contreras declines qualifying offer
Left-handed pitcher Drew Smyly declines mutual option for 2023
OF Jason Heyward released unconditionally
IF/OF Miles Mastrobuoni was acquired from Tampa Bay Rays in exchange for pitching prospect Alfredo Zarraga
DH Franmil Reyes elected free agency after being outrighted from the 40-man roster
LHP Steven Brault elected free agency after being outrighted from the 40-man roster
RHP Alec Mills elected free agency after being outrighted from the 40-man roster
LHP Brad Wieck elected free agency after being outrighted from the 40-man roster
RHP Rowan Wick and the Chicago Cubs agreed on a 1-year deal to avoid arbitration
RHP Adrian Sampson and the Chicago Cubs agreed on a 1-year deal to avoid arbitration
2B/3B Rylan Bannon claimed off waivers from the Atlanta Braves

Cubs offseason rumors

Carlos Correa tops the list of free-agent shortstops the Cubs are interested in
The Cubs have met already with Japanese free-agent starting pitcher Kodai Senga
The Los Angeles Angels will not trade Shohei Ohtani this offseason
The Cubs have met with the agents of free agent first baseman Josh Bell and Trey Mancini.
The Cubs have discussed free-agent catchers Omar Narvaez and Christian Vazquez internally
The Cubs are viewed as the favorites to sign Correa
The Cubs are not believed to be interested in free agent CF Brandon Nimmo
The Cubs are interested in free-agent starting pitcher Corey Kluber
Cody Bellinger is a name the Chicago Cubs are monitoring for their CF opening.
The Cubs were involved in the bidding for free agent starting pitcher Tyler Anderson
Free Agent target Kodai Senga has drawn interest from the New York Mets

Cubs arbitration eligible players (and salaries for 2023)

OF Ian Happ - $10.6 MM
SS Nico Hoerner - $2.2MM
RHP Codi Heuer - $800K
2B Nick Madrigal - $1.1MM

Cubs Free Agents Lost

C Willson Contreras - Declined Qualifying Offer
LHP Wade Miley - Free Agent
LHP Drew Smyly - Declined mutual option for 2023
LHP Sean Newcomb - Free Agent
OF Michael Hermosillo - Free Agent
DH Franmill Reyes - Elected Free Agency
LHP Steven Brault - Elected Free Agency
LHP Brad Wieck - Elected Free Agency
LHP Alec Mills - Elected Free Agency
CF Rafael Ortega - Non-Tendered
LHP Brailyn Marquez - Non-Tendered
RHP Alexander Vizcaino - Non-Tendered

Cubs Top Prospects for 2023

OF Pete Crow-Armstrong
OF Brennan Davis
OF Kevin Alcantara
RHP Cade Horton
LHP Jordan Wicks
SS Cristian Hernandez
RHP Ben Brown
LHP Jackson Ferris
OF Alexander Canario
OF Owen Caissie

Rankings provided by MLB Pipeline

We'll be updating this tracker throughout the offseason.