Chicago Cubs Get Idea of What Their Ace's Contract Extension Might Look Like
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One of the best results that came from the Chicago Cubs' 2023 season was it looks like they have found their ace of the future.
They originally thought that was Marcus Stroman when they handed him a two-year, $71 million contract in free agency with a player option for the third.
He flashed signs of being that guy, more explicitly during the early part of last year, as he was firmly in the National League Cy Young discussion. But when he went down with an injury, the Cubs needed someone to step up.
That player was Justin Steele.
The fifth round pick in the 2014 MLB Draft never seemed like he might develop into that type of pitcher as it took him until 2021 to make his Major League debut.
But starting in 2022, the left-hander has been sensational with an ERA of 3.18 across 24 starts that season, and a 3.06 ERA over 30 starts last year.
He finished fifth in NL Cy Young voting, suggesting he might be a top-of-the-rotation arm for seasons to come.
Chicago could look to get an extension done with Steele.
Despite being four years away from hitting the open market, based on his performance so far, he could be an expensive arbitration player.
Getting a long-term deal done might be in the Cubs' best interest and Tim Britton of The Athletic has projected what that contract might look like.
"Steele is almost a perfect match for Hyun-jin Ryu’'s free-agent deal with the Blue Jays ... let's again buy out fewer of those free-agent years but at a higher AAV than Ryu received — say, two years at $25 million each," he writes.
This would bring his potential extension to six years and $90 million.
The lefty would likely jump all over that since he's already 28 years old and isn't scheduled to hit free agency until he's 32.
Britton projects he would receive somewhere in the $40 million range over the next four years of arbitration, so doubling that amount should be attractive.
That also allows Chicago to hold onto their ace during his formidable years, keeping him paired with the newly signed Shota Imanaga as their one-two option.
