Cubs Agree to 3-Year, $43M Deal with Closer Craig Kimbrel (Updated)
According to Ken Rosenthal, the Cubs have reached an agreement with Craig Kimbrel. The deal is pending a physical and terms have not yet been revealed, but stay tuned and we’ll update this post with more as it becomes available.
BREAKING: #Cubs in agreement with free-agent closer Craig Kimbrel, pending physical, sources tell The Athletic.
— Ken Rosenthal (@Ken_Rosenthal) June 6, 2019
Update: Rosenthal is reporting that it’s a multi-year deal.
Multi-year deal for Kimbrel with #Cubs, source tells The Athletic.
— Ken Rosenthal (@Ken_Rosenthal) June 6, 2019
Update #2: Rosenthal now tweets that the deal is for three years and around $45 million ($15M AAV). That’s about halfway between the $39-52 million range Kimbrel had reportedly been seeking and could actually amount to less total money if it’s prorated. More on that as it’s available.
There’d been some speculation about a possible one-year “pillow” deal that would allow him to land softly while rebuilding his value, but that wouldn’t make much sense for Kimbrel. Given his time away and the uncertainty of the rest of the season, he’d want to guarantee a little more security beyond 2019.
Update #3: Jon Heyman is reporting that the deal is for a total of $43 million through 2021, with potential offsets from Zobrist’s salary that could make this season a virtual wash.
when the $ saved from Zobrist absence is figured in (and the Kimbrel figure for 2019 is obviously less since season is more than one-third over) Cubs payroll won't be significantly higher. meaning they can still stay under the 206M luxury tax threshold.
— Jon Heyman (@JonHeyman) June 6, 2019
Update #4: ESPN’s Jeff Passan adds that the deal is for $10 million this season and $16 million over each of the next two, with a $1 million buyout on a club/vesting option on a fourth year. Sign me up.
Craig Kimbrel's deal with the Chicago Cubs is for three years and $43 million and includes a fourth-year option, sources tell ESPN. He'll receive $10 million this season and $16 million in 2020 and 2021. There is a $1 million buyout on a club/vesting option for the fourth year.
— Jeff Passan (@JeffPassan) June 6, 2019
Update #5: Heyman confirms the figures an puts the fourth year at $16 million, which can vest as a player option based on as-yet-unknown performance numbers. If it doesn’t vest, that figure becomes a club option with a $1 million buyout.
Kimbrel's full breakdown is $10M in 2019, $16M in 2020, $16M in 2021, $16M option with $1M buyout in 2022. @JeffPassan 1st #cubs
— Jon Heyman (@JonHeyman) June 6, 2019
As for Kimbrel’s readiness, Passan reports that he could join the Cubs in less than two weeks. His stuff “has been electric” in recent workouts and his limited role means he doesn’t need to be stretched out for long outings.
Craig Kimbrel could be with the Chicago Cubs sooner than later. In recent workouts showcasing his stuff for teams, Kimbrel has been electric. His physical is Thursday, sources tell ESPN, and him joining the Cubs before June 20 is a realistic goal.
— Jeff Passan (@JeffPassan) June 6, 2019
