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.
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