UPDATE: The deal is official.

-----

The Chicago Cubs opted to pass on David Price, but according to the latest rumors they've added good depth to their starting rotation on Friday.

John Lackey is reportedly signing a multi-year deal with the Cubs.

 

Lackey, 37, had a career year with the St. Louis Cardinals in 2015. The right-hander finished 13-10 with a 2.77 ERA, 1.21 WHIP and 175 strikeouts in 33 starts (218 innings). Previous rumors indicated the Cubs and San Francisco Giants were potential landing spots for the veteran. 

Chicago had been (and probably still is) searching for cost-effective starting pitching during an offseason where there isn't much. Price signed a $217 million contract, Zack Greinke is expected to get between $160-$192 million and even Jeff Samardzija could ink a $100 million deal (who the Cubs are also interested in).

Jon Lester is already under contract with the Cubs and he'll be making at least $25 million per season through 2019. The club is also hopeful they can sign NL Cy Young winner Jake Arrieta to a long-term extension. If that happens, he'll also be earning a large average annual salary since he's projected to make nearly $11 million in his second year of arbitration eligibility.

Lackey probably won't be the last of the Cubs' moves this offseason. The Winter Meetings begin on Monday and there have been rumors surrounding players such as Jorge Soler, Javier Baez and Starlin Castro - all of whom could be used as trade bait for young starting pitching. Shelby Miller, Tyson Ross and Carlos Carrasco have been a few names mentioned in those trade rumors.

Don't forget the team is also looking for another outfielder or two, which is likely to affect how they continue to approach their starting rotation in free agency.

Stay tuned for updates because we are far from done at this point.

@ 2024 HNGN, All rights reserved. Do not reproduce without permission.