The Rundown: PCA Extension Details, Steele to 60-Day IL, Hoyer on High Expectations, 2016 Anniversary Pod Announced

The regular season is upon us, with the Yankees and Giants getting things started tonight on Netflix. Imagine hearing that even as recently as two years ago, let alone when the streaming giant was just an upstart subscription service that sent you DVDs in the mail. I may tune in for the novelty of it, but my focus is solely on the Cubs as they embark on what is expected to be another season of playoff contention.

It damn well better be. Jed Hoyer has been given a bigger budget than in the recent past, as evidenced by luring Alex Bregman with a five-year, $175 million deal that stands as the largest in club history in terms of average annual value ($30.83M with deferrals). Jason Heyward‘s $184 million guarantee is still at the top of the list for total value, but he was only at $23 million AAV. Dansby Swanson‘s $177 million deal ($25.3M AAV) slides in behind Bregman.

Jon Lester ($155M, $25.83M) and Yu Darvish ($126M, $21M) had been the only other nine-figure deals signed by the Cubs until Pete Crow-Armstrong‘s big extension. News of the deal broke late Monday night, but it wasn’t until nearly a day later that we got the main figures. This morning brought additional details about the annual structure and incentives available to the young man who turns 24 years old today.

As expected, the new money kicks in next year to buy out what would have been four years of club control and two more of free agency. What was not expected is the lack of a club option or two at the end of the guarantee, something you almost always see when young players are extended earlier in their careers. The deal does not include a no-trade clause.

Here’s how it all breaks down:

• $5M signing bonus
• 2027: $10M
• 2028: $10M
• 2029: $10M
• 2030: $20M
• 2031: $30M
• 2032: $30M
• Base salary in 2031 increases by $2M for each MVP in 27-30; $1M for 2nd or 3rd place; $750K for 4th or 5th; $500K for 6th-10th
• Base salary in 2032 increases by $2M for each MVP in 27-31; $1M for 2nd or 3rd place; $750K for 4th or 5th; $500K for 6th-10th
• $1M trade assignment bonus

As unlikely as it would be, PCA can push the deal to $133 million by picking up another $18 million in incentives by winning five consecutive MVPs. The far more tangible benefit to him is being able to reach free agency ahead of his age-31 season, at which point he could very well be performing at an elite level on both sides of the ball. As for the Cubs, they get the cost security of locking up a potential worldwide superstar at a price that could end up looking like a bargain.

What’s more, they’re not adding to this year’s budget for luxury tax purposes. With all that money falling off the books at the conclusion of the season, PCA’s $19.17 AAV won’t be a problem at all.

Justin Steele to 60-Day Among Many Roster Moves

The Cubs are indeed going to be very deliberate with Justin Steele, whose rehab has gone well enough that he could almost certainly have been back prior to late May. But with enough starting pitching depth to carry them in the meantime, the team chose to place him on the 60-day IL so they could clear space on the 40-man roster. That is just one of the many moves they announced on Wednesday.

Michael Conforto and Scott Kingery both had their contracts selected, so Steele’s spot goes to one of them. The other slides into the opening created by designating righty Jack Neely for assignment. Jordan Wicks (left forearm inflammation) and Porter Hodge (right elbow strain) have both been placed on the 15-day IL.

To be clear, this isn’t a sign that Steele has suffered a setback. While he had been ahead of schedule this offseason, and might still be, the team isn’t going to take any chances with his recovery.

Hoyer Embracing High Expectations

More than a few folks still believe Jed Hoyer’s preference is to spend as little money as possible to create a team that can merely compete enough to draw a crowd, but we’ve seen over the last two winters that that simply isn’t true. Could he stand to be a little more aggressive at times? I’d answer in the affirmative. But by signing Alex Bregman, trading for Edward Cabrera, and getting that PCA extension done, you can’t say the front office isn’t willing to spend on a winner.

With that, however, comes a heap of expectations from both fans and the baseball world in general. As Hoyer shared with The Athletic’s Jon Greenberg in a lengthy Q&A that will be published in two parts, it’s good to have a proverbial target on their back.

“I think that’s the fun part of expectations,” Hoyer said. “You want fans excited for the season. You want them to have high expectations.”

His answer there was specifically in regard to what Alex Bregman brings to the team and how his addition is perceived both internally and externally. Bregman’s stated goal when he joined the team, one reinforced by wearing No. 3, is to win a third World Series title. With the Cubs on the verge of a season that marks the 10th anniversary of the organization’s last win, it’s understandable that the desire to get back to the promised land is strong.

“They are high, and the concerns are always the same,” Hoyer admitted. “They’re going to be health, they’re going to be the bullpen coming together, all these different things. But I do feel like our group got a taste of what it’s like in the playoffs, what Wrigley’s like in the playoffs, and I sense a really hungry group this year, a really serious hungry group, which is a great feeling. I think they believe in themselves and they believe in what they can do.”

More News and Notes

• PCA’s extension isn’t the only new stream of income he’s generated lately, as he was just signed to Gatorade’s roster. He’s the first MLB player to join Gatorade since the Mariners’ Julio Rodríguez in 2023.
• The Rays have added lefty reliever Cam Booser to the 40-man roster after signing him to a minors deal in January. He is the first player ever to pitch in spring training while also playing in the NCAA basketball tournaments.
• What’s that? Oh, Cam Boozer is the star Duke forward who is surely making more in NIL money than Booser will even if he gets called up.
• The Mets have designated Vidal Bruján for assignment, providing Hoyer with a tantalizing replacement for Kingery.
• Caleb Kilian has been added to the Giants’ roster after signing a minors deal with them over the winter. He was originally drafted by San Francisco and came to the Cubs in the Kris Bryant trade, but he could just never figure it out in the bigs.
• A panel of 57 MLB.com staff members picked the Cubs to win the division before falling short as the Dodgers go on to the World Series yet again.
• Bregman shared his excitement for the season and the next five years in an essay for The Players’ Tribune. The opening segment is about PCA taking 30 minutes to play wiffleball with Knox Bregman. Good stuff.

Trailer Time

I went to see Project Hail Mary last night and really enjoyed it, but the review can wait for another time. So can any movie trailers, for that matter. Today’s video is for The Lovable Reunion, a new podcast hosted by David Ross and Anthony Rizzo about the 2016 World Series and all the people who played a role in it. First episode airs on March 31 on podcatchers everywhere.