The Chicago Cubs have made their first major move of the offseason, signing veteran left-hander Matthew Boyd to a two-year, $29 million contract. According to a source familiar with the negotiations, the deal, which is contingent on a successful physical, includes a $5 million signing bonus, $7.5 million for the 2024 season, and $14.5 million for 2026. Additionally, Boyd’s contract features a mutual $15 million option for 2027, with a $2 million buyout. The 33-year-old can also earn up to $1 million in performance bonuses, based on innings pitched.
Boyd, who made a successful return from Tommy John surgery, posted a 2-2 record with a 2.72 ERA in eight starts for Cleveland in 2023. He also appeared in three postseason games for the Guardians, allowing just one run over 11 2/3 innings, striking out 14. Boyd’s solid showing with Cleveland came after he signed with the team in June, making his season debut with 5 1/3 innings of one-run ball against the Cubs in August.
The Washington native now joins a Cubs rotation that includes Justin Steele, Shota Imanaga, and Jameson Taillon. Boyd has had a 10-year MLB career, with stops at Toronto, Detroit, and Seattle. Over his career, he holds a 46-69 record with a 4.85 ERA in 168 starts and 14 relief appearances. His best season came in 2019 with Detroit, when he set career highs with 32 starts and 185 1/3 innings. Boyd’s performance bonuses are tied to innings pitched, with $100,000 bonuses for each threshold of 80, 90, 100, 110, and 120 innings each year.
This addition comes as the Cubs seek to build on their recent 83-79 seasons, finishing second in the NL Central in both 2022 and 2023.
