(670 The Score) While the Cubs’ lucrative investment to sign new manager Craig Counsell to a record-setting five-year, $40-million deal represented another step forward in their quest to win a championship, it doesn’t necessarily mean they’re going to have a spending spree in free agency this offseason, president of baseball operations Jed Hoyer said Tuesday.
“I don’t think that we signaled that we’re going to have some crazy aggressive offseason, but certainly, like I said, I really like our position,” Hoyer said. “If there are moves, even big moves, that will help us continue that trajectory, we’ll definitely do it. But I don’t that it’s a signal that somewhere we’re going to have the biggest and boldest offseason. If we do, it’s because things lined up for us.”
The Cubs currently sit around $185 million in estimated payroll commitments for 2024 as it relates to the luxury tax, according to FanGraphs and Spotrac. That figure includes arbitration projections and also retained salary for players who have already exited the organization, and the number will surely change based on a few roster decisions to come. The luxury tax threshold for 2024 is $237 million.
Free agency isn’t the only avenue for the Cubs to potentially add premier talent this offseason. They’ll also have interest in Padres star outfielder Juan Soto and Mets slugging first baseman Pete Alonso on the trade market, Bruce Levine of 670 The Score previously reported. Both of those players have one year left on their contracts.
“I’m really excited about our direction and where we’re going and our building process,” Hoyer said. “I certainly sold Craig on that really hard – not only the core of players we have on the team but the young players that we have that are mounted on the border, so to speak. We have financial flexibility. I believe in that.”