Shota Imanaga opened the 2025 MLB season as the Chicago Cubs’ opening day starter. He’ll end it as a surprising addition to the free-agent pool.
Imanaga became an unexpected free agent Tuesday after the Cubs declined to exercise an option on the left-hander’s contract, according to ESPN’s Jesse Rogers.
Imanaga, 32, posted a 3.73 ERA over 144 2/3 innings with the Cubs last season. As a rookie, Imanaga took the league by storm, posting a 2.91 ERA over 173 1/3 innings and earning down-ballot Cy Young votes.
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His path to suddenly becoming a free agent was a bit more nuanced compared to a typical MLB player. When Imanaga signed with the Cubs in 2024, he was given a four-year deal worth $53 million guaranteed.
That deal, however, gave the Cubs an option to extend Imanaga’s contract to five years and $80 million at the conclusion of his second year with the team. If the Cubs accepted that option, the team would have Imanaga from 2026 through 2028 for roughly $57.75 million, per The Athletic.
The team apparently didn’t like those figures and declined to pick up Imanaga’s option. With the Cubs’ decision made, the power moved back to Imanaga. As part of his contract, Imanaga would receive a $15 million player option for 2026 if the Cubs declined to extend his contract to a fifth season. Imanaga declined that $15 million option Tuesday, leading to his sudden addition to the free-agent market.
With Imanaga testing the market, the Cubs have one more decision to make on the lefty. The team can give Imanaga a qualifying offer in an attempt to recoup some value if the pitcher leaves. In that scenario, the Cubs would extend a one-year, $22.025 million contract to Imanaga. If he accepts that deal, he would return to the Cubs next season. If Imanaga declines that qualifying offer, any team that signs the pitcher is subject to losing one or more draft picks.
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Given his numbers, Imanaga is almost certain to decline that offer and test the market. While he’s older than most players hitting the free-agent market for the first time, Imanaga has performed well enough to net a multi-year deal from another club. It’s even possible Imanaga exceeds the three-year, $57.75 million he would have received from the Cubs had the team picked up his complicated option.
With Tuesday’s news, Imanaga becomes one of the best starting pitchers in free agency. He joins Houston Astros ace Framber Valdez and Philadelphia Phillies veteran Ranger Suárez at the top of the starting-pitching market.
Despite being the oldest player in that group, Imanaga should draw plenty of interest on the market, especially from teams that believe they are one starter away from being World Series contenders.
