It’s been over a week since the Cubs agreed to a deal with Joc Pederson, but the team finally announced the deal Friday evening. They also made official announcements of their contracts with starter Trevor Williams and reliever Andrew Chafin.
Pederson’s $7 million guarantee includes a $4.5 million salary for 2021 and a $2.5 million buyout on a $10 million mutual option for ’22. Chafin’s $2.75 million total comes from a $2.25 million base this season and a $500,000 buyout on a mutual $5.25 million option for ’22.
Per source, Joc Pederson's base salary for 2021 is $4.5M. His deal includes a $10M mutual option (or $2.5M buyout). So, it's worth $7M guaranteed. @JonHeyman was first with the breakdown.
— Jordan Bastian (@MLBastian) February 6, 2021
Williams will earn a minimum $2.5 million and also has incentives that could add another $1 million to the deal. He will earn $175,000 for reaching innings thresholds of 50, 75, 100, 125, and 150, then can get another $125,000 for hitting 175 innings. The former Pirate is arbitration-eligible for ’22, so the Cubs could retain him if he figures a few things out.
Trevor Williams Cubs deal:
Plus: $175,000 each for 50ip; 75ip; 100ip; 125ip; 150ip,125,000 for 175ip.
— Jon Heyman (@JonHeyman) February 5, 2021
The Cubs also claimed former Tigers infielder Sergio Alcántara off waivers Friday, so the above moves put the 40-man roster over the limit and resulted in infielder Max Schrock being designated for assignment. It’s entirely possible that Alcántara will be put on waivers if the Cubs end up finding another starting pitcher, the market for which is getting pretty thin at this point.