Chicago Cubs latest $5 million signing isn’t a simple one year contract

Headlining the Cubs starting rotation currently is Shota Imanaga, Justin Steele, Jameson Taillon and Matthew Boyd.  From there, Colin Rea and Javier Assad are potential options for the fifth spot, but guys like Jordan Wicks, Ben Brown, Cody Poteet and Caleb Kilian are also options.  Rea also has bullpen experience, so he could move into a relief role with the ability to pitch multiple innings.

A year ago, Rea pitched the highest amount of innings in his career at 167.2.  He had a nice 3.77 ERA in the first half, but a 5.17 second half ERA.  It’s possible that having him work in both roles, and not taking the ball consistently every fifth day, may keep him fresher, sharper, and more effective throughout the seasons entirety.

Colin Rea’s contract isn’t a simple one year deal

MLB.com’s Jordan Bastian and Brian Murphy recently discussed the finer details of Colin Rea’s contract.  While he is ultimately guaranteed a minimum of $5 million, he could potentially earn up to $10.25 million in a Cubs uniform.  His 2024 base salary will be $4.25, but there is also a $5.0 million option for the 2026 season with a $750,000 buyout.

This is a great contract for the Chicago Cubs and Colin Rea

This off-season, the Milwaukee Brewers declined Colin Rea’s 2025 option worth $5.5 million and paid him a $1.0 million buyout.  The Cubs then turned to him, signed him to a base salary $1.25 million less than what he could have got with the Brewers, and included a buyout that is just $750,000.  Financially this is a win for Chicago, and contractually this is great for Rea as he automatically will receive $5 million, but if he pitches well he can more than double his earnings.

It will be interesting to see how Colin Rea’s second tenure with the organization goes.  He’s not the same pitcher that he was back in 2020 and now Rea will be re-united Craig Counsell, who previously managed him with the Brewers in 2023.