MESA, Ariz. (670 The Score) – The pain of missing out on third baseman Alex Bregman was obvious on Cubs president of baseball operations Jed Hoyer’s face Thursday as he processed the team’s failed pursuit of a standout player in free agency.
On Wednesday night, Bregman agreed to join the Red Sox on a three-year, $120-million deal. The Cubs offered Bregman a four-year, $115-million contract, sources said, while the Tigers offered a six-year, $171-million contract.
Bregman took the offer with the highest average annual value, as he’s set to make $40 million now in 2025. His contract with Boston did include some deferred money as well as opt-outs after each of the first two season.
"We are obviously disappointed,” Hoyer said. “He is a great player and was a great fit for us. We spent a lot of time in the process. I am thankful to Tom and Laura (Ricketts at the ownership level) for green-lighting us and pushing our budget. This is free agency. They got an offer in money and structure we couldn't match. It was a good opportunity, and now we move forward.”
Bregman, who will turn 31 in late March, is a two-time All-Star who won a Gold Glove at third base in 2024, when he had 26 homers, 75 RBIs and a .768 OPS in 145 games. He would’ve been a difference-making bat in the Cubs’ lineup and provided stability at third base, a position that was a big weakness for Chicago in 2024 and where the 23-year-old Matt Shaw is now in line to take over.
While the Cubs extended Bregman an offer that averaged $28.75 million annually, their plan isn’t to use that entire allotment of money before the season starts. It was set aside for only Bregman because of his talent and their need at third base.
Instead, the Cubs will look to add to the fringe of their roster and have flexibility to make in-season acquisitions.
“The things we will be doing now will be smaller things financially,” Hoyer said. “We feel the big blocks are on this team already. We will now be able to do some things in season and when chances to improve come up. Last year, we were able to add to our bullpen with Tyson Miller and Jorge Lopez, things like that. My expectation now is the group we have is really close to the group we will be going forth with.”
Another high-profile third baseman remains on the market for anyone interested in trading for the Cardinals’ Nolan Arenado, but a union with the Cubs is unrealistic. Arenado, who will turn 34 in April, hit .272 with 16 homers and a .719 OPS in 152 games in 2024. His 101 OPS+ was just a hair above league average, and he’s owed $74 million over the next three seasons, though $10 million of that will be picked up by the Rockies, his first MLB team.
Adding an infielder like Justin Turner or Jose Iglesias is a more likely scenario for the Cubs.
“It’s important to be opportunistic in our business,” Hoyer said. “I certainly didn't have any expectation at the Winter Meetings that Alex Bregman was going to sign February 12th. This was the case I was making (to the Ricketts family) that this was a financial stretch above our budget, but I realize it was the moment to ask and try to do it. I was thankful they allowed me to do that.
“The way I look at this job is you try to make good investments. I thought this was a good investment, so we made an attempt.”
Bruce Levine covers the Cubs and White Sox for 670 The Score. Follow him on Twitter @MLBBruceLevine.