On November 4, 2025 (U.S. time), it was officially announced that Shota Imanaga of the
Chicago Cubs has become a free agent (FA).
Both the Cubs organization and Imanaga himself declined to exercise their contract options:
- The team rejected a three-year, $57 million club option
- Imanaga declined his one-year, $15 million player option
As a result, the four-year deal signed in the 2023–24 offseason has ended, and Imanaga will now test the open market.
Behind this decision lies a mix of performance decline in the second half of the season and differing evaluations between player and club.
- ■ The Contract & Background
- ■ Performance & Evaluation — From Breakout Rookie to Uneven Sophomore
- ■ The Cubs’ Perspective — Balancing Risk and Reward
- ■ Imanaga’s Strategy — Betting on His Market Value
- ■ The QO Factor — Will the Cubs Make a Qualifying Offer?
- ■ What Comes Next — Rebound in MLB or a Return to Japan?
- ■ Fan Reactions — Hope for a Comeback
- ■ Summary — A New Challenge Begins
■ The Contract & Background
Imanaga joined the Cubs via the posting system from the Yokohama DeNA BayStars in 2023, signing a four-year, $53 million contract.
That deal included:
- Team option: three additional years for $57 million
- Player option: one extra year for $15 million
However, after the 2025 season, the Cubs decided the long-term extension wasn’t worth the cost, while Imanaga’s camp believed he could earn more than $15 million on the open market.
Thus, both sides mutually agreed to part ways — a rare but logical move considering the circumstances.
■ Performance & Evaluation — From Breakout Rookie to Uneven Sophomore
Imanaga’s first MLB season was a dream debut:
2024: 15 wins, 3 losses, 2.91 ERA, All-Star selection.
He dominated National League hitters with sharp command and a deceptive fastball, helping lead the Cubs back to postseason contention.
But in 2025, his performance cooled off:
25 starts, 9 wins, 8 losses, 3.73 ERA.
While solid overall, his second-half numbers raised eyebrows — 5.17 ERA with 20 home runs allowed in his final 12 starts.
Analysts pointed out fatigue, reduced fastball life, and a higher long-ball rate as key factors.
Once viewed as a “top-tier lefty,” Imanaga’s standing shifted toward “solid mid-rotation arm.”
■ The Cubs’ Perspective — Balancing Risk and Reward
The Cubs are entering a competitive window while still managing long-term payroll flexibility.
Committing nearly $90 million over three years to a 30-year-old starter with rising HR rates and stamina questions was seen as risky.
From a front-office standpoint, declining the option allowed the team to reallocate resources toward younger arms and offensive depth.
Put simply — Imanaga’s value no longer matched the guaranteed money, and both sides saw little upside in forcing the extension.
■ Imanaga’s Strategy — Betting on His Market Value
From Imanaga’s viewpoint, this is not a setback — it’s a strategic gamble.
With two MLB seasons under his belt, he has:
- A career 24 wins and a sub-4.00 ERA,
- The advantage of being a left-handed starter, and
- Strong marketability as one of Japan’s top pitchers abroad.
That combination makes him attractive to multiple MLB teams.
Early reports from U.S. media have linked the Padres, Giants, and Mets as potential suitors.
Meanwhile, his former team DeNA BayStars in Japan reportedly remains open to bringing him back if MLB offers don’t meet expectations.
■ The QO Factor — Will the Cubs Make a Qualifying Offer?
A key question: will the Cubs issue a Qualifying Offer (QO)?
If they do, it would be a one-year deal worth about $22 million (¥3.4 billion) — keeping Imanaga in Chicago for another season.
However, accepting a QO means forfeiting the chance to test free agency.
Since Imanaga is likely aiming for a multi-year contract, rejecting the QO and entering the market seems far more probable.
■ What Comes Next — Rebound in MLB or a Return to Japan?
For Imanaga, the 2026 season represents a turning point.
Will he sign a new MLB deal and re-establish his dominance?
Or will he return to NPB and start fresh as a proven international ace?
Current market projections suggest something like:
2–3 years, $12–18 million per year (¥18–27 billion JPY total)
If he delivers strong early-season results, that figure could easily climb, especially given the current shortage of quality left-handers in MLB rotations.
■ Fan Reactions — Hope for a Comeback
Fans across Japan and the U.S. have flooded social media with mixed but hopeful reactions:
“He still has what it takes to dominate in MLB.”
“Would love to see him back in a BayStars uniform.”
“The first-half Imanaga was pure magic — bring him back!”
His charisma and calm demeanor have earned him admiration beyond statistics.
For many, this FA chapter isn’t about decline — it’s about redemption.
■ Summary — A New Challenge Begins
Shota Imanaga’s free agency isn’t an ending; it’s a reset.
Both sides — the Cubs and Imanaga — made rational decisions to move forward independently.
Armed with MLB experience, All-Star credentials, and worldwide fan support,
Imanaga enters this offseason as one of the most intriguing names on the pitching market.
Whether his next step leads him back to Japan or to a new MLB clubhouse, one thing is certain:
Shota Imanaga’s story in baseball is far from over.
