Caleb Thielbar David Banks-Imagn Images

Details of Caleb Thielbar’s New Cubs Contract

Originally posted on Chicago Cubs on SI
By Maddy Dickens | Last updated Dec 18, 2025 7:30 AM ET

The Chicago Cubs had a four-headed monster inside their bullpen last season with four relievers posting an ERA under 3.00 — Brad Keller, Drew Pomeranz, Daniel Palencia, and Caleb Thielbar.

As of right now, if the Cubs are to do the same kind of damage, it will be with a near entirely different look, as Brad Keller and Drew Pomeranz have signed deals with new teams this week. Caleb Thielbar, however, has signed a one-year contract to rejoin the team after hitting free agency at the end of 2025.

Thielbar's new contract

Interestingly enough, although he signed a one-year deal with the Cubs for 2026, it could ultimately not be his last, as terms of his new contract include a $500,000 mutual buyout option for 2027. With the mutual option, Thielbar has a guaranteed $4.5M coming his way as he looks to keep his momentum rolling from their 2025 playoff run, where he didn't allow a single run in five games.

Caleb Thielbar’s one-year deal contract with the Cubs will be worth $4.5 million guaranteed, according to a source briefed on the deal for the lefty reliever. It includes a $4 million base salary for next season, a $500,000 buyout of a 2027 mutual option and performance bonuses.
— Patrick Mooney (@PJ_Mooney) December 17, 2025

The 38-year-old just finished up his first season in Chicago, but it was easily his best of his career as he posted a 2.64 ERA while holding opponents to a .186 batting average, trailing only Brad Keller in appearances this season.

Before joining the Cubs at the end of 2024, Thielbar spent his entire career with the Minnesota Twins, and even though he has battled injuries time and time again, he's emerged as one of the better arms in the game.

New Faces in the 2026 Bullpen

With Keller and Pomeranz both off to different ballclubs, the Cubs have been able to lock down a pair of their own new faces to help bolster their pitching staff, as both Phil Maton and Hoby Milner will be on the opening day roster.

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Maton is easily the best move that management has made this offseason, as he posted a 2.79 ERA with a 1.06 WHIP while striking out 81 last season, even though he only pitched 61 innings. Milner, on the other hand, didn't have nearly the ERA at 3.80, but he is a groundball specialist, which is what was so enticing to the Cubs.

The Cubs' bullpen is far from set for next season, but they are at least another step closer after solidifying Thielbar's return. Their work is still cut out for them as they head into the rest of the offseason, but management can take a small breather knowing that Thielbar will be back.

This article first appeared on Chicago Cubs on SI and was syndicated with permission.

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