A day after Bob Nightengale first broke the news of the Chicago Cubs signing Shota Imanaga, ESPN’s Jesse Rogers confirmed the contract that has a few options for both sides. According to Rogers, after the first two years of the contract the Cubs can extend the deal to a total of $80 million over five seasons.

The 30-year-old starting pitcher also has the option to decline after years two and three and test the free agent market once again. This somewhat complicated deal could ultimately end with a guarantee of $53 million over four years.

The Cubs are in agreement with lefty Shota Imanaga on a 4 yr, $53 million deal, sources tell ESPN. After 2 yrs, the team has the option to extend the contract to $80 million over 5 yrs. If they decline, Imanaga has the option to become a free agent. Same after third yr.

— Jesse Rogers (@JesseRogersESPN) January 11, 2024

Imanaga is the first player to sign an MLB contract with the Cubs this offseason, ending nearly a year-long drought between MLB signings for the front office. Jed Hoyer has waited out the market this winter and obviously having Imanaga face a deadline to sign helped out the Cubs in negotiations.

That being said, it appears as though Imanaga favored the Cubs while in talks because according to MLB reporter Jon Heyman, Imanaga turned down more than double the guaranteed money from another team this offseason.

I want to throw this tweet in here to provide some context. Assuming Heyman is right, it’s hard to be exact with figures. https://t.co/MePfu7eOAH

— Steven (@GoCubs49) January 10, 2024

The other finalists for Imanaga were reported to be the San Francisco Giants, Los Angeles Angels and Boston Red Sox.