Chicago Cubs Rumors: Tom Ricketts increases player payroll for 2021
The Chicago Cubs surprised many on Friday morning with their signing of free agent outfielder Joc Pederson to a one-year deal worth $7 million.
The reason for the move being surprising is that prior to this week, the Cubs have been hesitant to spend money on the Major League roster this off-season. That mindset is the reason why the Cubs were forced to trade starting pitcher Yu Darvish and catcher Victor Caratini to the San Diego Padres in a move that was about dumping salary.
It was the same mindset that the Cubs had when they chose to non-tender left fielder Kyle Schwarber and not match the offer that starting pitcher Jon Lester received from the Washington Nationals.
Being that the Cubs could not match the $5 million offer ($3 million of which was deferred) that Lester signed, it came as surprising news that the Cubs shelled out $7 million for Pederson. A $7 million Major League contact is the exact deal that the Cubs have been avoiding this off-season.
The Chicago Cubs have found some spare change
Perhaps, not anymore.
Chicago Sports insider and ESPN 1000 radio host David Kaplan reported on Friday that Cubs’ chairman Tom Ricketts has recently allowed for an increase in player payroll in 2021.
Sources have confirmed to me that Tom Ricketts has recently increased the Cubs player payroll for 2021. This has allowed Jed Hoyer some flexibility to reshape his roster in a division the Cubs view as winnable. @kapjhood @NBCSChicago @NBCSCubs
— David Kaplan (@thekapman) January 29, 2021
When it comes to the Chicago Cubs, Kaplan is well connected so chances are there is some legitimacy to this report but lets take a look at why this news is coming out new.
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The most obvious reason is that this off-season has been a PR nightmare for Ricketts.
Ricketts crying poor because of the lack of fans in attendance during the 2020 season is why many fans question the off-season moves that have been made up until this point. The moves appeared to be more geared towards clearing payroll and the Cubs’ covering their losses. The most recent instance when Cubs’ ownership would not allow the baseball operations to match Lester’s offer with the Nationals.
Having said all that, it is entirely possible that Ricketts reviewed the National League Central with president of baseball operations Jed Hoyer and realized that the division is their for the taking. Prior to the Cubs signing Pederson, the National League Central has spent a total of $3 million on Major League contracts this off-season. Of the $3 million, the Cubs are responsible for 41% of that amount.
The move for Ricketts’ to increase spending on player payroll in 2021 also confirms the original notion this off-season that the Cubs are not interested in a complete tear down. If the Cubs were interested in a complete tear down, then the increase never would have happened.
Though, some may question if the decision to increase player payroll was made too later considering the departures that the Chicago Cubs have already suffered this off-season.