THE “RELIABILITY” RETENTION
CHICAGO, IL—While the Chicago Cubs are currently embroiled in a high-stakes bidding war for Japanese ace Tatsuya Imai, Jed Hoyer’s front office quietly fortified the bullpen’s floor this week.1 As of December 20, 2025, the Cubs have finalized a one-year reunion with veteran left-hander Caleb Thielbar.2
Though not a “blockbuster,” the deal provides essential clarity for a relief corps that carried Chicago to its first postseason appearance since 2020.3 Thielbar, who turns 39 in January, emerged as a “high-leverage anchor” in 2025, posting a stellar 2.64 ERA across 67 appearances.4+1
THE CONTRACT SPECIFICS
The reported numbers reflect a “modest bump” for Thielbar, rewarding his career-best efficiency while maintaining the Cubs’ financial flexibility for a major starting pitching addition.5
- Guaranteed Total: $4.5 Million6
- Base Salary (2026): $4 Million7
- 2027 Mutual Option: $6 Million (includes a $500,000 buyout).8
- Performance Bonuses: Thielbar can earn an additional $750,000 based on games pitched (incentives start at 50 appearances and scale up to 65).9
THE “SOUTHPAW STRATEGY”
The retention of Thielbar is part of a deliberate “roster strategy” by manager Craig Counsell to build a bullpen capable of neutralizing the heavy-hitting lefties of the NL Central (like Milwaukee’s Christian Yelich).
| Pitcher | Hand | 2026 Status | The Role |
| Caleb Thielbar | LHP | Re-signed (1yr/$4.5M) | High-leverage / Lefty Specialist (.161 BAA vs LHB). |
| Hoby Milner | LHP | New Addition (1yr/$3.75M) | Groundball specialist / Middle Relief. |
| Phil Maton | RHP | New Addition (2yr/$14.5M) | Setup / High-K potential. |
| Daniel Palencia | RHP | Returning | Projected Closer (High Velocity). |
THE BROADER PICTURE: DEPTH VS. DOMINANCE
The “uncomfortable math” for the Cubs this winter involves replacing the 120+ combined innings lost with the departures of Brad Keller and Drew Pomeranz.10 By locking in Thielbar and Milner early, the Cubs have secured 125+ appearances worth of veteran experience for under $10 million combined.
This “calculated and strategic” approach allows the front office to remain aggressive in the $200 million market for top-tier starters without worrying about the foundation of their relief staff.
“It’s about balancing the checkbook while keeping the firemen in the building,” one team insider noted. “Thielbar isn’t a headline-grabber, but he’s the guy you want on the mound when the game is on the line in the 8th inning.”
