Chicago will only have to pay Hosmer the minimum salary, according to the source, as he still has three years and $39 million left on a contract he signed with the San Diego Padres back in 2018. He was traded from the Padres to the Boston Red Sox last season, not long after San Diego acquired Juan Soto from the Washington Nationals. Hosmer was released by the Red Sox at the end of the year.
Hosmer, 33, has a career .764 OPS while spending his best seasons with the Kansas City Royals who he helped to a World Series title in 2015. Two years later, he signed an 8-year, $144 million deal with San Diego which runs through 2025. The Padres are paying most of that remaining salary.
Hosmer figures to see time mostly at designated hitter as well as first base. The team also has holdover Patrick Wisdom, who can play first, as well as prospect Matt Mervis. Mervis hit 36 home runs combined in three different levels of the minors last season, but it's not clear if he'll make the team out of spring training.
Last season, Hosmer had a hot April -- compiling an OPS over 1.000 -- but cooled off for the final months of the year. From May to October, his OPS was just .636.
The signing is part of a longer term plan by the Cubs who are attempting to improve in 2023 after a 74 win season but also have an eye on competing at a higher level in the coming years. The deal should be viewed similar to Cody Bellinger's one-year contract -- as a bridge to younger prospects who aren't quite ready for the majors.
Along with Mervis potentially taking over at first base, the team is hoping center field, where Bellinger plays, will be manned by Pete Crow-Armstrong soon. He was acquired in a trade with the New York Mets in July 2021.