Shota Imanaga contract details, grade: Cubs first splash is a monster one

The Chicago Cubs' first free agent addition of the 2024 offseason transpired on Tuesday, when Jed Hoyer landed Japanese southpaw Shota Imanaga. The 30-year-old, who spent the last eight seasons with the NPB's Yokohama Bay Stars, is expected to operate as the Cubs' No. 3 starter behind left-handed Justin Steele and right-handed Jameson Taillon.

Imanaga's posting deadline was Jan. 11, so Chicago was able to land him just in time. Several teams, including the Boston Red Sox and San Francisco Giants, were also rumored to have interest in Imanaga. He was Japan's winning pitcher during the WBC championship game. Known for his filthy movement and elite location control, Imanaga should find immediate success in the MLB.

It's past time for Chicago to make a free agency splash, but Hoyer deserves credit for his patience perseverance here. Despite the crowded pitching market, Chicago landed Imanaga at a discount. His contract is worth $53 million over four years, per ESPN's Jesse Rogers. The Cubs have the option to extend the contract to $80 million over five years after the second season. If declined, Imanaga can hit free agency. The same clause exists for the third season.

Speculation was that Imanaga's contract would exceed Kodai Senga's five-year, $75 million deal with the New York Mets. In a way, this does — but just barely. The contract also offers contingency plans for both Chicago and Imanaga. If he delivers as expected, opting into the five-year framework is a no-brainer for the Cubs. If Imanaga struggles, Chicago can back out and Imanaga has the option to leave early.

Grading Chicago Cubs' Shota Imanaga contract

This was a huge win for Chicago. The Cubs desperately needed another quality arm to pair with All-Star Justin Steele. The absence of Marcus Stroman will be deeply felt, but Imanaga checks many of the same boxes. He won't replicate Stroman's knack for groundballs, but the emphasis on accuracy and sleight of hand is comparable.

Imanaga gives Chicago a third lefty in the starting rotation. The Cubs would still benefit from adding one more high-level starter, but Craig Counsell manages the bullpen better than any coach in baseball. Perhaps Chicago now shifts its focus to the relief staff. There is an unavoidable level of uncertainty with Imanaga, who hasn't pitched in the MLB before, but this contract has major steal potential if he can translate his slippery fastballs and myriad off-speed pitches.

At the World Baseball Classic, Imanaga led all participants in the Stuff+ metric, which measures pitch movement. In 22 starts for Yokohama last season, he went 7-4 with a 2.80 ERA and 1.054 WHIP. He led the league with 174 strikeouts in 148.0 innings pitched.

Counterbalancing the inherent uncertainty of bringing a pitcher over from Japan is the upside. We have seen several aces from NPB find immediate, prolific success in the States. Senga in New York is a great, recent example. The Dodgers are obviously hoping Yoshinobu Yamamoto is their No. 1 ace for the next decade. Imanaga will have to adjust to the new baseball, but he should improve Chicago's outlook considerably.

Now, the Cubs just have to make sure the offense is up to snuff.

Grade: A-