Cubs Are Running Out of Options

On one hand, the Cubs have actually committed to more free agent relievers than in years past and you trust that they’ve identified solid arms to fill out their bullpen heading into 2026. On the other hand, fans have been led to believe that the team has been and maybe continues to be interested in acquiring another high-leverage/closer and now the Cubs are running out of options to fill that desire at least through free agency.

On Wednesday, a pair of free agent relievers found new homes and more importantly for us, are now off the board as Cubs targets to sign. The headliner is Brad Keller, who had a breakout year in his first full season as a reliever after signing a minor league deal and winning a roster spot out of spring training in 2025. The right-handed pitcher ended the season as the Cubs’ best reliever and was closing out playoff wins for Craig Counsell.

Shortly after Keller’s deal with the Philadelphia Phillies was reported another potential free agent target was scooped up by the New York Mets. Luke Weaver signed an identical contract to Keller as he moved to the other side of New York City, leaving the Yankees in free agency.

Before we look at where and how much top free agent relievers have signed this offseason let’s take a look at how the Cubs have rebuilt their bullpen.

Colin Rea:
$6.5 million guaranteed ($5.5 million in 2026, $7.5 million club option in 2027, $1 million buyout)
Phil Maton:
$14.5 million guaranteed ($5.5 million in 2026, $6 million in 2027, $8.5 million club option in 2028, $3 million buyout)
Hoby Milner:
1 year, $3.75 million guaranteed
Caleb Thielbar:
$4.5 million guaranteed ($4 million in 2026, 2027 club option, $500,000 buyout)

No flashy signings for the Cubs, but they’ve addressed the majority of their bullpen needs. But again, during the past month or so fans have been reading about other top free agents they’ve supposedly been interested in signing. I’ll leave Edwin Diaz off the list because at no point were the Cubs ever linked to him, but as a reference point he signed a three-year, $69 million contract with the Los Angeles Dodgers. That deal for Diaz includes $13.5 million in deferred money.

All right, here are some other free agents that the Cubs were reportedly trying to sign, interested in, checked in, kicked the tires, or whatever language to suggest a connection between the club and player. Ultimately, all these guys ended up signing elsewhere.

Devin Williams: New York Mets, 3 years – $51 million ($15 million deferred)
Robert Suarez: Atlanta Braves, 3 years – $45 million
Ryan Helsley: Baltimore Orioles, 2 years – $28 million (2027 player option)
Brad Keller: Philadelphia Phillies, 2 years – $22 million
Emilio Pagan: Cincinnati Reds, 2 years – $20 million (2027 player option)

As mentioned at the beginning, Weaver also signed a two-year, $22 million contract with the Mets on Wednesday. His name was brought up more by fans speculating that he could be a target, but he wasn’t really reported on by Cubs writers this offseason. The same goes for Kyle Finnegan, who signed a two-year, $19 million contract with the Detroit Tigers. Finnegan had previously been a rumored Cubs target last year, but there was no concrete connection this offseason, although he probably was behind the scenes.

So, if the Cubs really are trying to get another late-inning reliever to pair up with Daniel Palencia, who’s left?

Top Free Agent Relievers Available
Pete Fairbanks
Evan Phillips
Seranthony Dominguez
Shawn Armstrong
Michael Kopech
Kirby Yates
Pierce Johnson
Ryne Stanek

Out of those pitchers the Cubs have been linked to Pete Fairbanks the strongest, while Evan Phillips was brought up early in the offseason as a potential target. A key reminder on Phillips is that he won’t be ready to pitch until the second half of the regular season as the former Dodgers’ closer is rehabbing from Tommy John surgery.

The Cubs were reportedly interested in Seranthony Dominguez back at the trade deadline and last offseason they lost out on Kirby Yates, who signed a one-year deal with the Dodgers. Ryne Stanek has also been linked to the Cubs in previous offseasons.

Pierce Johnson was drafted by the Cubs back in 2012, and he’s had a good run with the Braves during the last 2.5 seasons. Shawn Armstrong is coming off a great year with the Texas Rangers and he was briefly with the Cubs in 2024, so maybe they do have him back on their radar.

Michael Kopech could be fun. He got better when he was traded to the Dodgers, but he has a long history of injuries that make it a riskier proposition. Still, if the Cubs want to add more velocity to the bullpen, then taking flier on Kopech could be an option.