Despite the public appearance of a separation, recent reports from insider Bruce Levine suggest that a multi-year reunion between the Chicago Cubs and left-handed pitcher Shōta Imanaga is a distinct possibility.
This tease comes after a highly publicized series of option declines by both sides, which made Imanaga a free agent, seemingly ending his tenure in Chicago. The current developments show that the two sides remain amicable and are still actively negotiating.
The Contract Dance
The current drama stems from the complex structure of the original deal Imanaga signed before the 2024 season:
- Cubs Decline: The Cubs declined their three-year, $57 million club option on Imanaga for the 2026-2028 seasons. This move was prompted by his significant struggles with the home run ball later in the 2025 season (a 4.86 FIP and high HR/9 rate).
- Imanaga Declines: This decline then triggered a $15.25 million player option for 2026, which Imanaga also declined, opting instead for free agency.
- The Qualifying Offer (QO): The Cubs then extended a one-year, $22.05 million Qualifying Offer. Imanaga is widely expected to decline this offer (due by November 18) to test the open market for a long-term deal.
The Reunion Path
The main character in this contract saga, Shōta Imanaga, is still highly valued by the Cubs, especially given their massive need for starting pitching. The door to a reunion remains open because of a middle-ground contract scenario:
- Insider Tease: Local insider Bruce Levine reported that a two-year deal of some kind could be worked out between the two sides, regardless of Imanaga accepting or declining the QO.
- Jed Hoyer’s Stance: Cubs President Jed Hoyer confirmed there is no bad blood and refused to close the door on a reunion, saying the option declines were simply a matter of differing evaluations of the contract’s “right value.”
- The Market Factor: Since Imanaga has a QO attached, any team that signs him will have to surrender a draft pick. This compensation attached to a player who showed vulnerability in the second half of 2025 (4.72 ERA in his last nine starts) may dampen his market, making a return to the Cubs on a short-term, high-AAV deal more appealing to both parties.
The Cubs need a dependable starter, and Imanaga needs a contract that gives him a chance to fully stabilize his performance before hitting free agency again. A short, two-year deal could be the perfect compromise.
The Cubs’ desire to bring back Imanaga is driven by their deep need for starting pitching. To understand their other options, would you like to check the latest contract projections for the other top free-agent starting pitchers this offseason?
