The Cubs have blown past their projected 2016 payroll budget.
According to Cot's Baseball contracts, the Cubs are obligated to 13 players for $108.83 million. There are 7 players going to arbitration which is estimated to cost the team another $34 million. Heyward's contract is said to be $23 million AAV. Five second year players at the major league minimum and the 15 players with major league contracts on the 40 man roster will total around $13.3 million. And the Cubs are still carrying $14.1 million in dead money.
This totals a $176 million payroll.
It is clear Theo Epstein changed his "Plan" dramatically after last season's success. Jed Hoyer commented last week that there was a short championship window. With all the young core players under control, it was an odd statement. But in current context, Epstein and Hoyer's contracts expire in October, 2016. There has been no word of any extensions. The pressure to get to the World Series has caused the baseball front office to go "all in" this year.
Another reason could be the dysfunction in the Cub organization. Ricketts does not own just a baseball team. He is trying to create his own Disneyland at Clark and Addison, with the Cubs being just one tenant. He is putting more effort into developing real estate than developing quality starting pitchers.
Epstein seems to have begged, borrowed and groveled for money to spend on the baseball side. Gordon Wittenmyer said that the Cubs netted $12 million because of the surprising post season run. Epstein begged to use that money windfall to sign players for 2016. Wittenmyer said the Cubs business side gave Theo "some" of that money.
In order to sign Lackey, Zobrist and Heyward, Epstein has been basically juggling financial chain saws. He had to trade Castro to dump salary, he had to structure part of Lackey's contract to apply unused 2015 payroll for 2016 obligations and beg for post season revenue to sign Heyward. And he may not be done dumping payroll in the search for a true center fielder.
One can see why Epstein and Hoyer would be frustrated to be treated like little children with a set allowance for a team in the major market. Normally, the baseball operation is the king pins of the organization. But in the Cub world, it is the opposite.
For fans who endured three horrible Cub seasons, the "going for broke" win-it-now attitude is a refreshing breath of playoff fresh air. Epstein has to spend like a drunken sailor now because the Chicago expectations are now at a fever championship pitch. He has tried to hedge sophomore slumps of his young core with expensive veteran players. I suspect there will be many "World Series or Bust" t-shirts when spring training opens in February.
