Just a few weeks ago, Michael King looked like a tailor-made fit for the Chicago Cubs - a high-upside starter with swing-and-miss stuff, a track record of success as a recent convert to the rotation, and likely not the kind of player to command a massive deal in free agency. But that door officially closed Thursday night, as King is staying in San Diego. The Padres locked him up on a deal that could pay him up to $75 million over three years, keeping a key arm in-house as they try to retool on the fly.
King’s return to the Padres isn’t just about familiarity - it’s about betting on himself. The right-hander, who was part of the blockbuster Juan Soto trade with the Yankees, has quietly turned into one of the more effective starters in the National League since making the full-time move to the rotation in mid-2023. Over 54 starts in that span, King has posted a 2.92 ERA - a mark that puts him in some elite company.
The contract structure reflects both King’s upside and his injury history. According to reports, the deal includes player opt-outs after both the first and second years.
That means King has the flexibility to re-enter the market if he pitches well and stays healthy - and if not, he’s got financial security baked in. Year one would pay him $22 million, two years gets him to $45 million, and if he stays all three, he’ll earn the full $75 million.
It’s worth noting that King turned down a qualifying offer from San Diego earlier this offseason. That’s a key detail, especially for a team like the Cubs, who would’ve had to forfeit draft picks and international bonus pool money to sign him.
That’s a steep price to pay for a pitcher who, while talented, was limited to just 15 starts and 73.1 innings in 2025 due to injury. In that context, King’s decision to stay put - and the Cubs’ decision to pass - makes a lot more sense.
So now, the Cubs pivot.
Chicago is still in the market for rotation help, and the latest buzz has them firmly in the mix for Japanese right-hander Tatsuya Imai. The 27-year-old has drawn strong interest from multiple teams, with the Cubs and Yankees reportedly among the finalists. Imai brings a polished arsenal and has been a standout in Japan, and he could be the kind of high-ceiling addition the Cubs were hoping for in King.
Another name that’s been loosely connected to Chicago this offseason? Zac Gallen. There’s no indication a deal is imminent, but Gallen would represent a true frontline upgrade - and the Cubs have the prospect capital to make a splash if they choose to go that route.
Of course, if free agency doesn’t produce the right fit, the Cubs could turn to the trade market. Names like Joe Ryan, Edward Cabrera, and MacKenzie Gore have all surfaced as potential targets.
Each brings something different to the table: Ryan with his command and pitch mix, Cabrera with electric stuff and upside, and Gore with a mix of pedigree and untapped potential. None would come cheap, but the Cubs have the flexibility to get creative.
Michael King may be off the board, but the Cubs’ offseason is far from over. They’ve got money to spend, needs to fill, and options - both domestic and international - still on the table. The next few weeks should tell us a lot about how aggressive they’re willing to be in building a contender for 2026.