As expected, the Cubs’ two big-time outgoing free agents did not accept their one-year, $17.4 million qualifying offers for 2018, which means they are now qualified free agents, attached to draft pick compensation.
What that means for the teams that sign them is that they can lose draft picks and IFA pool money to sign the players, depending on their market size and luxury tax status. (Full details here.)
What that means for the Cubs is that they will receive a draft pick after the second round of the draft if and when each player signs with a new team. (Again, full details here.)
Elsewhere, Alex Cobb also rejected his qualifying offer from the Rays, notable only to the extent that it serves as a reminder that signing him will cost the Cubs their second highest draft pick in 2018 and $500,000 in IFA pool space.
As a matter of fact, as expected, all nine free agents who received a qualifying offer have rejected the offer. So, there’s your qualified free agent pool:
- Jake Arrieta
- Lorenzo Cain
- Alex Cobb
- Wade Davis
- Eric Hosmer
- Greg Holland
- Lance Lynn
- Mike Moustakas
- Carlos Santana
With that officially sorted out, free agency will kick up unabated. Let’s go.