Arguably the biggest question facing the Chicago Cubs was Cody Bellinger and if he’d stick around on the North Side for 2025 or opt out of the last two years of the three-year, $80 million contract he signed in late February.
As reported by ESPN’s Kiley McDaniel and Jeff Passan on Saturday, Bellinger has made his decision: He will not exercise the opt-out in his contract, remaining with the Cubs instead of entering free agency for the third straight offseason.
By staying put, he’ll receive $27.5 million in 2025. His deal also includes a player option for 2026.
“When we signed that deal in late February, we knew that if [Bellinger] had a good year, we knew that he would have a lot of options,” Cubs president of baseball operations Jed Hoyer said at his end-of-season presser. “And he had a good year, and so I think he’ll have options.
Bellinger’s decision doesn’t come as a complete shock. He could’ve opted out and looked for a deal with more guaranteed money than what he has left on his current contract, even though he may have had to sacrifice some money in his annual salary. However, he was also coming off a down year compared to his 2023.
Though he had an overall good season (2.2 fWAR), he lost time to fractures in his right rib and his left middle finger. He managed to still play 130 games, matching his 2023 total, but he also played through pain to shorten his time on the injured list.
That, combined with how hard Wrigley Field was on hitters in 2024 (it had the second-worst mark among the 30 major league parks according to Statcast’s park factor), likely hurt Bellinger’s overall numbers. He ultimately slashed .266/.325/.426/109 wRC+ (his home slash line was .247/.301/.399/99 wRC+) with 18 home runs and 78 RBIs.
That was down from his NL Comeback Player of the Year performance in 2023, where he slashed .307/.356/.525/136 wRC+ to go with 26 home runs and 97 RBIs.
“Obviously, he didn’t have quite the year he had last year,” Hoyer said. “Last year, he was an MVP candidate, but when you look at the totality of the year he had [in 2024], I think he had roughly an .800 OPS on the road. I think his home OPS was 200 points lower than last year, and that’s kind of how Wrigley played.”
Bellinger returning isn’t a worst-case scenario for the Cubs. He’s a former MVP who finished 10th in National League MVP voting only a year ago. He won’t turn 30 until July, he’s still a good left-handed bat, and his defensive versatility allows him to cover all three outfield positions and first base. He’s a valuable asset for any team.
But the Cubs are coming off back-to-back 83-win seasons, and they’re locked in at nearly every position on the field. Bellinger opting out would’ve allowed them some more flexibility, both financially and with roster construction, but now they’ll have to get creative when it comes to roster building.
With Pete Crow-Armstrong emerging as the everyday center fielder, Bellinger will likely slot into right field, with Seiya Suzuki manning the designated hitter’s role. Bellinger will also be able to shift to first base if needed.
According to FanGraphs’ RosterResource, with Bellinger now officially on the books, the Cubs’ estimated luxury-tax payroll for 2025 is currently just under $198 million. That leaves them with a little over $43 million to spend before they hit the first luxury-tax threshold (set at $241 million). So, they’ll have some room financially to address the rotation, the bullpen and catcher if they so choose.
But again, they’ll have to get creative if they want to make some changes to the rest of the position-player group.
