The latest disappointment for the Chicago Cubs offseason occurred on Tuesday night when the team missed out on free-agent shortstop Carlos Correa. Correa signed a 13-year deal with the San Francisco Giants worth $350MM. Correa's contract with the Giants is only just the latest example of what the free-agent market has become for Major League Baseball. The market has shifted back toward long-term deals with a slightly lower AAV.
For the Cubs, that has been no more apparent than when you look at the contracts that the team's free-agent shortstop targets signed this offseason. Trea Turner signed an 11-year deal worth $300MM with the San Diego Padres and Xander Bogaerts signed an 11-year deal worth $280MM with the San Diego Padres.
The contracts that have been signed by free agents this offseason only highlight how grossly the Cubs' miscalculated the expected spending this offseason. The Cubs entered the offseason with the idea that they would be able to lure premium free agents to Chicago on a short-term deal that features an inflated AAV. The market has spoken and the Cubs' approach hasn't adapted to the trend. That is the reason why the Cubs are continually striking out on their primary free-agent targets this offseason.
That was also the premise of 670 The Score and NBC Chicago Sports Anchor Leila Rahimi's rant on the Cubs' offseason on Wednesday while filling in for Laurence Holmes on "The Bernstein and Holmes" Show.
Rahimi is spot on with her assessment of the Cubs' offseason. The Cubs can say one thing but the market is ultimately going to dictate what the successful approach is. Teams such as New York Mets, San Diego Padres, and Philadelphia Phillies have proven that is the successful approach to luring top-tier free agents. The Giants tested that theory and successfully landed Correa. The Cubs refuse to test that theory and will remain on the sidelines until they adapt their offseason approach.