The Chicago Cubs have been linked in MLB rumors this winter to some of the top free agents and trade candidates available. However, after acquiring Kyle Tucker and trading Cody Bellinger, the rest of the Cubs offseason moves have been small. There’s now a reason to believe that could change.
Chicago has kept itself fairly busy this offseason. It signed catcher Carson Kelly and pitcher Matthew Boyd, along with the acquisition of pitcher Cody Poteet and less-heralded signings like Colin Rea, Phil Bickford and Caleb Thielbar. However, there are still some glaring needs if the team wants to contend in 2025.
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The willingness to spend has been the question. Owned by the Ricketts family with Thomas S. Ricketts operating as team chairman, Chicago hasn’t finished as season with a top-five payroll since 2020, the COVID-shortened 2020 season when the team had the third-highest total payroll ($86 million) in MLB. Since then, the organization has largely been outside the top 10 in player payroll.
- Chicago Cubs payroll 2025 (FanGraphs): $180 million, $198 million projected luxury tax
However, Chicago did have the seventh-highest MLB payroll last season at $229.567 million. It was immediately followed up by some financial slashing this winter, with the switch from Bellinger ($25 million salary in 2025) to Tucker ($16.5 million salary in 2025) saving money both next season and long-term.
There are still also plenty of high-end contributors available if the team is willing to spend. MLB rumors have linked Chicago to a trade for Seattle Mariners All-Star pitcher Luis Castillo and the club is known to have some interest in free-agent third baseman Alex Bregman. The question is whether or not ownership will spend the money necessary to land one of the two players.
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In an interview with Patrick Mooney of The Athletic, Rickets shared that the team expects to spend around $241 million in terms of its luxury tax threshold in 2025.
That matters because as of late January, Chicago is currently projected to have $198 million in luxury tax payroll. If Ricketts’ figure for the franchise is accurate and the team follows through on it, the Cubs could have just over $40 million in spending flexibility.
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Of course, Ricketts admitted that this doesn’t necessarily mean Chicago will go out and sign Bregman or trade for Castillo before spring training. With that said Chicago is also positioning itself to where it can take on a big contract at the MLB trade deadline.
“We always have the ability to add payroll if we need to at the deadline. And if there’s a piece we need to keep winning, there’s always that option.”
Chicago Cubs chairman Tom Ricketts on the team payroll in 2025, potential for future moves
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At the very least, $40 million of financial flexibility means Chicago will likely be making at least one more significant addition this year. Whether that’s before Opening Day or it comes in July, the Cubs should at least remain aggressive in trying to improve the roster.