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Chicago Cubs pitcher Shota Imanaga

The Chicago Cubs and pitcher Shota Imanaga both seem content on parting ways heading into the offseason. Imanaga signed a one-year deal with the Cubs ahead of the 2024 season as a 30-year-old rookie coming from Japan, before securing a four year contract that had opt-out options for both Imanaga and the team after the 2025 season.

The team option was for the final three years of the contract, which has been declined by the Cubs front office, while Imanaga had a one-year player option which would have kept him in Chicago through the 2026 season. He decided not to exercise this option.

The Cubs decision to decline the option saves them over $52 million over the next three seasons. Though he’s only pitched two years in the MLB, Imanaga will be playing his 32-year-old season in 2026, so the Cubs decision to not keep him is clearly in regards to concern about his decline as he ages.

It’s a fair move, as he did decline in production during the 2025 season. He threw 30 fewer innings while his ERA increased by almost a full point and his strikeout and home run numbers regressed as well.

Imanaga Opts Out of Player Option to Stay in Chicago For 2026

Imanaga and his team decided not to take the $15.5 million in Chicago in 2026, and instead hit the open market as a free agent. It’s a move that makes complete sense for the pitcher as he starts to inch into his mid-30’s.

IF Imanaga had stayed in Chicago and posted another regression in 2026, his value would significantly decline heading into next offseason. Now, Imanaga and his team have the ability to secure a multi-year contract with his value still moderately high.

According to Spotrac, Imanaga’s current market value is four years at ~$30 million per season. That’s a high number for a declining player now on the wrong side of 30-years-old, but there is certainly enough talent there to command that price, maybe at two or three years. It’ll be a gamble for whatever team decides to sign him: are they getting 2024 Imanaga, who had a 2.91 ERA and over a strikeout per inning? Or will they get the diminished, but still solid 2025 Imanaga?

He’ll join a starting pitcher free agent class that includes names like Dylan Cease, Framber Valdez, Zac Gallen, and Michael King.

Matt Skillings Matt Skillings is a Boston based sports journalist and a graduate of UMass Amherst, where he majored in journalism and communication. Matt covered the UMass men’s ice hockey team for three years for the Massachusetts Daily Collegian. He was also a media intern for the Harwich Mariners of the Cape Cod Baseball League for two summers. Matt has additional bylines with the New England Hockey Journal, the Boston Globe and MassLive. More about Matt Skillings

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