Imanaga becomes eligible for free agency after Cubs, pitcher turn down options, AP source says

CHICAGO (AP) — Left-hander Shota Imanaga became eligible for free agency when the Chicago Cubs declined an option to keep his contract by guaranteeing $57 million for the 2026-28 seasons and he turned down a $15.25 million option for 2026, a person familiar with the decision told The Associated Press.

The person spoke on condition of anonymity Tuesday because the team had not announced the decisions.

Imanaga agreed in January 2024 to a contract guaranteeing $53 million. He wound up earning $23.25 million over two seasons, including a $250,000 escalator for 2025 by finishing fourth in 2024 NL Cy Young Award voting.

Chicago had to decide this week whether to exercise its option for $20.25 million each in 2026 and ’27 and $17.25 million in 2028, figures that increase by $250,000 each because of the escalator.

Once the team declined, he had the decision on a 2026 option. If he had exercised that option, it would have triggered club options for $24.25 million in 2027 and $15.25 million in 2028.

The Cubs could still extend Imanaga a qualifying offer of $22,025,000 for 2026. If he declines and signs with another team before the amateur draft, the Cubs would receive a draft pick as compensation.

Imanaga, 32, was an All-Star in 2024, when he went 15-3 with a 2.91 ERA, finishing fourth in NL Rookie of the Year voting.

He was 9-8 with a 3.73 ERA in 25 starts this year, when he was sidelined between May 24 and June 26 by a strained left hamstring.

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AP MLB: https://apnews.com/hub/mlb