Will Cubs Actually Reallocate Cody Bellinger Salary Savings?
When Jed Hoyer traded Cody Bellinger in December, he freed up $25 million in actual payroll and nearly $24 million in CBT payroll. The Cubs went over the first luxury tax threshold last season, in part due to re-signing Bellinger, and all signs are that they do not intend to be repeat offenders. Fans were understandably concerned that the Bellinger trade was a pure salary dump despite the front office saying they would reallocate the money, and we’re still waiting for those funds to be used.
The Cubs still have around $30 million, just a little more than Bellinger’s entire salary, before they hit the first penalty tier. Signing Alex Bregman would take up that entire buffer and essentially force Hoyer to clear space, likely by trading Nico Hoerner and his $11.5 million ($11.67M AAV). If they don’t sign Bregman, however, the options of spending that Bellinger money are quite slim. Don’t get me wrong, the team is very solid as it stands. But the Cubs can’t just leave a substantial amount of money on the table and not try to improve the roster further.
Nick Pivetta still hasn’t found a home, but it’s clear by now he messed up by not accepting the qualifying offer from the Red Sox. Most figured he’d return to Boston on a QO deal, and the fact that he remains unsigned when so many other pitchers have gotten more than expected is telling. If Hoyer decides to pursue him, the cost will have to be quite low due to the loss of draft picks and international money.
David Robertson also remains available, but that still wouldn’t be more than a third of the remaining budget. Same for the other relievers on the market.
Hoyer has always said that he wants to keep some payroll in reserve for in-season acquisitions, something that was true for Theo Epstein as well. If we assume they want to earmark $10 million for deadline deals, that still leaves up to $19 million they can spend before the season opens. While it would be malpractice to simply blow the presumed surplus on mediocre players, not spending it at all would be a mistake.