Jed Hoyer hints at Shota Imanaga's potential return, despite declining options. The qualifying offer remains on the table as the Cubs weigh future possibilities.
With the GM Meetings occurring in Las Vegas this week, this is really the start of the offseason.
The GM Meetings are a chance for all clubs and agents to get a head start on offseason moves. This is really where the initial conversations occur with agents and other general managers around baseball.
Those talks will progress over the next few weeks, and we typically see moves start to happen a little after the Winter Meetings in early to late December. For now, general managers and executives are just gathering information.
On Tuesday afternoon, Cubs fans got to hear president of baseball operations Jed Hoyer speak for the first time since the end of the 2025 season. He talked to a pool of reporters in Las Vegas, and unsurprisingly, the topic of Shota Imanaga came up.
The Cubs declined Imanaga’s three-year, $57 million club option earlier this month, and then Imanaga went on to decline his one-year, $15 million player option for the 2026 season. That forced the front office to offer him the $22.025 million qualifying offer for next year.
After speculating why the Cubs might have declined Imanaga’s club option, Hoyer gave us some insight as to why they ultimately decided not to accept it.
“We obviously value Shota a ton,” Hoyer said to reporters in Las Vegas. “He was amazing for us as a pitcher, as a teammate, and I don’t want to close that door completely by any stretch. But ultimately, we didn’t think the club option was the right value. He didn’t think the player option was the right value, and that happens.”
At the end of the day, it appears that the Cubs didn’t want to lock down Imanaga for the next three years. That makes complete sense, considering the left-hander was one of the worst pitchers in the second half.
He had a 5.17 ERA over his final 12 regular season starts, and the Cubs couldn’t even rely on him in a win-or-go-home Game 5 against the Milwaukee Brewers in the National League Division Series.
With Imanaga showing massive signs of regression from his rookie campaign, the Cubs couldn’t commit to him for the next three seasons. That’s likely why Hoyer and the front office decided it was best to decline that option altogether.
Now, there is still a chance that Imanaga will remain with the Cubs for the 2026 season. He has until November 18 to accept Chicago’s $22.025 million qualifying offer. So, the door is still open for a return.