Here are all of the Cubs players entering free agency after the 2024 season

Cody Bellinger (2024 salary: $26.66 million - player opt-out for 2025)

Whether or not Cody Bellinger opts out of his deal with the Cubs will have a massive impact on how Jed Hoyer attacks the offseason. Set to make $27.5 million next year, Bellinger could head back to free agency in hopes of landing a longer-term deal, freeing up that money for Chicago in the process.

Bellinger wasn't able to replicate his 2023 NL Comeback Player of the Year performance this season, but was still a 2.2 bWAR player with a 111 OPS+, adding value on the basepaths and in the field, where he's capable of playing top-level defense both in the outfield and at first base.

Still only 29, he's young enough that he might find that long-term deal out there. Could a Bellinger opt-out open the doors to a high-profile free agent signing? It would certainly help in terms of opening up dollars, there's no doubt about that.

Drew Smyly (2024 salary: $9.5 million - $10 million mutual option for 2025)

Drew Smyly has played some critical roles for the Cubs over the last few seasons. This year, he got off to a stellar start in the first half before coming back down to earth down the stretch, finishing the year with a 0.0 bWAR and 3.84 ERA in 50 relief appearances.

Frankly, for $9.5 million, you need more from a reliever - and it makes the decision to turn down their end of the $10 million mutual option for 2025 pretty cut-and-dry. Smyly has had a nice run here on the North Side (who could forget his almost-perfect game in April 2023) - but there are more cost-effective options capable of replicating his results out there.