MLB Insider Shares Why Cubs Haven’t Signed Free-Agent Slugger Yet

Getty The Cubs and outfielder Cody Bellinger appear to be a perfect match in free agency. So, why haven't they come to an agreement yet?

After signing manager Craig Counsell in November, it took the Chicago Cubs two full months to make a big free-agent splash. They broke through by signing starting pitcher Shōta Imanaga to a four-year, $53 million deal.

Spring training is less than a month away. However, Chicago’s offseason work seems far from over. They’ve been connected to free-agent sluggers such as outfielder Cody Bellinger and first baseman Rhys Hoskins. Bellinger and the Cubs appear to be a perfect match, so why haven’t they come to an agreement yet?

MLB.com’s Mark Feinsand shared one big reason why in a January 20 report. It has to do with the 2023 National League Comeback Player of the Year’s current market. Feinsand said the Cubs “must still be viewed as favorites” to re-sign Bellinger. However, he also said there aren’t many MLB teams currently making an aggressive push to sign the left-handed slugger. So in an effort to not bid against themselves, Chicago’s front office is showing restraint in negotiations.

Feinsand ended his thoughts on the Cubs-Bellinger situation by saying the expectation across the industry is that there will be a reunion here, “but only if/when his asking price comes down.”

What Is Cody Bellinger’s Current Asking Price?

On November 6, MLB Trade Rumors predicted Bellinger would sign a 12-year, $264 million deal. Since he made his big-league debut in 2017 with the Los Angeles Dodgers at 21 years old, Bellinger is only entering his age-28 campaign in 2024. But still, finding a team willing to go 12 years this late in the offseason might be a tough thing to do.

However, ESPN’s Jesse Rogers reported on December 19 that Bellinger’s camp was seeking “well over $200 million.” There also didn’t appear to be much wiggle room in that ask.

“[Scott] Boras is sticking to the money that was mentioned at the start of the free agency market,” one executive said to Rogers. “He will take it well into the winter. Not budging.”

These types of free-agent contract demands aren’t new from Boras. In that same report from Rogers, a National League executive said, “My experience with [Boras] is that he asks for a big number of dollars and years and doesn’t budge for quite a while. He’s not afraid to carry a guy into February or March as a free agent. Then he figures it only takes one team to blink and they usually do.”

Teams Other Than the Cubs Who Have Been Linked to Bellinger

The Cubs have been the team most linked to Bellinger this winter, and for good reason. The outfielder played for Chicago in 2023 and rediscovered his NL MVP Award form. He hit .307/.356/.525 with 26 home runs, 29 doubles, 20 steals, 97 RBI and 95 runs scored in 556 plate appearances. Since the Cubs haven’t done anything to replace his production yet, a reunion makes sense.

But of course, they’re not the only club that’s been connected to the left-handed hitter. Feinsand also discussed Bellinger’s possible landing spots at the moment. He mentioned the Los Angeles Angels, San Francisco Giants, New York Mets and Seattle Mariners as teams that would “all make sense.” No club within this group has shown a willingness to meet the aforementioned contract demands, though.

The team that could be the Cubs’ greatest competition, per Feinsand, is the Toronto Blue Jays. Fitting Bellinger into their roster could still work, but the Jays have already re-signed center fielder Kevin Kiermaier this winter. That could impact how badly the club wants to get a deal done.