Sure sounds like the Cubs and Jed Hoyer were upset Cody Bellinger wanted to stay

Chicago Cubs slugger Cody Bellinger decided not to test the free-agent market this winter, opting into the remainder of his deal to play at the friendly confines of Wrigley Field. Bellinger had a 2.2 WAR and .266/.325/.426 slash line last season, good for a .751 OPS. That was below Bellinger's career average of an .818 OPS, which might explain why he took the $52.5 million over the next two years and ran.

As Joel Sherman of the New York Post points out, Scott Boras clients typically use anything at their disposal to reach the free-agent market. Bellinger went against the grain in his choice, and it was likely the right decision. Given his production in 2024, there is no guarantee Bellinger would've received a deal better than the $26 million he is scheduled to receive over the next year.

Per executives Sherman spoke to, the Cubs may have been counting on Bellinger to hit the open market. Chicago wants to get below the luxury tax threshold and add to their roster at the same time. With Bellinger opting in, their options are relatively limited now. Juan Soto was always off the table, but even down-ballot free agent targets cost a pretty penny. The Cubs must test their limits.

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Were the Cubs upset that Cody Bellinger opted in?

Bellinger's OPS dropped 130 points from 2023 to 2024, and Boras couldn't find his client a long-term commitment just last winter. Odds are, he would've run into the same roadblock this offseason. Bellinger can still play the outfield as well, but his defensive metrics suggest he's better off at first base long term. Essentially, Bellinger isn't worth as much as the Cubs thought, which is why Jed Hoyer might not have been thrilled by his choice to stay in Chicago on his current contract.

The best-case scenario for the Cubs is obvious. Bellinger could've opted out, only to chase a free-agent contract that never comes. Eventually, Chicago would've re-signed Bellinger to a lesser deal than he had in the first place. However, that is why Boras is a good agent, and a well-connected one at that.

The Cubs aren't necessarily upset Bellinger is on the roster. He's a flawed player, but still a feature in the Chicago lineup. He's just not worth as much money as he's making barring a comeback campaign in 2025.