Boyd’s mutual option is essentially never exercised, so he is expected to receive a $2MM buyout and return to free agency next winter, ending a two-year, $29MM deal. His first season performance with a 3.21 ERA over 31 starts largely covered the contract value, but a biceps strain in April and a left knee meniscus injury earlier this month have limited him, with surgery keeping him out until late June at the earliest. Harvey’s one-year, $6MM deal has been derailed by triceps inflammation and a stress reaction, making him an easy pass. Kelly has outperformed his two-year, $11.5MM contract, hitting .261/.344/.421 with 19 homers and a .381 on-base percentage, supporting another two-year deal at a better annual rate. Rea has been favored by manager Craig Counsell, posted a sub-4.00 ERA last season, and received a restructured extension guaranteeing $6.5MM instead of a $6MM team option for 2026.
"Chicago Cubs Mutual options are essentially never exercised, so Boyd will be paid the $2MM buyout and return to free agency next winter. That'll conclude a two-year, $29MM free agent deal that worked out well. Boyd's 3.21 ERA over 31 starts a year ago essentially paid for the contract on its own."
"The second season isn't going as planned. Boyd missed a couple weeks in April with a biceps strain and suffered a more significant meniscus injury in his left knee earlier this month. He underwent surgery that'll keep him out into late June at the earliest. The Cubs probably aren't keen on their end of the option."
"Kelly has outperformed his two-year, $11.5MM deal signed in December 2024. Initially brought in as a veteran complement to Miguel Amaya, the 31-year-old Kelly has earned the majority of the playing time. He's a .261/.344/.421 hitter with 19 homers over his season-plus in Chicago. He's fourth among primary catchers this season with a .381 on-base percentage. Kelly has a strong case for another two-year contract at a better annual rate than the option price, so his camp should have an easy time passing."
"Rea, a 35-year-old swingman, is in the second season of his second stint with the Cubs. He's clearly a favorite of skipper Craig Counsell, who also managed him in Milwaukee in 2021 and '23. Rea pitched pretty well last season, managing a sub-4.00 ERA while starting 27 of 32 games. The Cubs had a $6MM team option for 2026, but the sides agreed to a restructured extension that guaranteed Rea $6.5MM"
Read at MLB Trade Rumors
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