Cubs Extend Qualifying Offer to Shōta Imanaga

The Cubs have extended a $22.025 million qualifying offer to lefty Shōta Imanaga for 2026, and he has until 4pm ET on November 18 to accept or reject it. This is a much more complicated matter than with Kyle Tucker, who also received a QO that he is certain to reject. The Cubs recently declined their three-year, $57.75 million option on Imanaga, who then declined his own player option for $15.25 million.

That last part was telling, as it would have also guaranteed him at least $15.25 million in 2027 (pending incentives for a top-10 Cy Young finish). Turning down over $30 million for two years signals a desire to seek more in free agency, as does the apparent PR push by his reps to blame his performance on the hamstring injury he suffered in May.

On the other hand, it’s possible Imanaga was hoping for a QO to improve his earnings in 2026, after which he can head back to Japan to avoid MLB’s likely labor stoppage. I’m not sure he’ll be able to beat two years, $30 million on the open market while saddled with qualifying offer penalties that could include up to two lost draft picks and $1 million in international pool money.

Because the Cubs did not exceed the competitive balance tax threshold in 2025, their compensatory pick for losing Imanaga will come after Competitive Balance Round B. That puts the pick somewhere in the mid-to-late-70s range depending on how many other teams are awarded picks for losing players who rejected QOs. If they end up re-signing him somehow, they would not receive a pick.