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    The Cubs Make A Lot Of Money, But Don't Spend It

    The Cubs are near the bottom of the league in percentage of revenue spent on the 26-man roster.

    Joe Sbertoli
    Image courtesy of © Kamil Krzaczynski-Imagn Images

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    On January 18, 2025, Cubs owner Tom Ricketts appeared on 670 The Score saying that the Cubs do not have the funds to spend like the Dodgers, Yankees, and Mets. This was in response to the growing frustration among Cubs fans as they watched other large-market franchises sign All-Star-caliber players to improve their rosters. At the same time, the Cubs’ most significant move last season was a trade for Kyle Tucker (OF), which cost them one of their top prospects, Cam Smith (3B/OF).

    Many assumed that the Cubs would use the $27.5 million that they freed up by trading Cody Bellinger (OF) to the Yankees to extend Tucker this offseason. It is yet to be seen if the Cubs will make a serious offer to Tucker in an attempt to retain him. Ricketts defended the team’s spending (or lack thereof) by saying that the Cubs are just trying to “break even” in terms of revenue vs spending. According to a report from Forbes Payroll Data via Spotrac, Ricketts's comments paint a much different picture than the team's actual financial situation.

    In 2024, the Cubs' Revenue was roughly $584 million, the third-highest in baseball, behind only the Dodgers ($752 million) and the Yankees ($728 million). This puts their earnings higher than those of all the remaining franchises, including the Mets ($444 million) and the Phillies ($519 million), which have been significantly more aggressive in spending in recent years, among others. Maybe the most discouraging statistic in this report is the percentage of revenue used to build players' rosters and to pay the luxury tax (penalty fees for exceeding a set payroll threshold). Make no mistake, ownership sets the limits on the budget allowance to put the best possible lineup out on the field.

    The allocation of funds towards roster creation can lead to a competitive advantage in ways different from those of other professional leagues with salary caps that maintain a level of competitive balance. In 2025, the Cubs used 36.4% of their revenue ($213 million) to build their 26-man roster. What makes this percentage so alarming to Cubs fans is that it ranks 26th out of the 30 MLB organizations. Teams such as the Milwaukee Brewers (40.8%), Washington Nationals (42.3%), and Athletics (43.4%) are spending a greater percentage of their revenue on their players. The comparisons to other large-market teams are even more staggering. The Los Angeles Dodgers spent 73.0% ($549 million) of their revenue, the New York Yankees spent 49.7% ($362 million) of their revenue, and the New York Mets spent an eye-popping 90.0% ($400 million) of their revenue in 2025 to build their rosters. 

    With all of that said, Cubs fans want to know whether this trend will continue. That remains to be seen. Many talented free agents will garner large contracts, including Kyle Tucker. Last season did not end how anyone in the organization had hoped, when the Cubs were eliminated from the postseason by the rival Milwaukee Brewers in the Division Series. If the Cubs (and the Ricketts) want different results and are serious about building a sustained winning organization capable of making a deep postseason run, they can start by increasing their willingness to allocate more of their annual revenue to player acquisition and retention.

    A lot of factors play into winning the World Series, but a loyal fanbase in a large market deserves to be rewarded with an owner who is willing to spend with the other top-revenue teams, because that is within their control. Let Jed Hoyer and his team go to work with the necessary budget to legitimately pursue players such as Tucker (OF), Alex Bregman (3B/DH), Eugenio Suarez (3B), and Framber Valdez (LHP). Cubs fans will consistently fill Wrigley Field and purchase team merchandise, which was on full display even during a 108-year championship drought. Tom Ricketts can reward this loyalty by allowing the front office to add a few pieces that can take the Cubs from a good team with talent to a serious contender. There is still time and resources available to achieve that this offseason.

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    KJTchoup

    Posted

    This is a fair article. It drives me bananas when Cubs fans state that the ownership does not spend at all. They do spend, however they just don't spend to the level of what fans expectation may be for the amount that they bring in in revenue.  It is just that simple.  Ownership does put a competitive team on the field, however they are just never going to spend to the level of a couple big revenue teams. I do not get worked up over it, and I don't understand why other fans do.  The Ricketts family simply runs their team as a business, not a public service for Cubs fans and they want to make profit off of it,  that is their prerogative, who am I to tell them differently.  I am not that entitled

    • Like 2
    Randall Simon

    Posted

    The Ricketts goal is to be competitive enough that fans fill the ballpark and follow the team each season. Their strategy is to build a roster predicted to win in the neighborhood of 87-88 games. They are NOT trying to win the World Series. Heck, they're not even trying to win the NL Central! To them, this is equilibrium price. Fans deserve better. 

    • Like 2
    SB in SC

    Posted

    I do not see the amount of money the Cubs spend as the primary issue.  They are failing at developing and drafting of players.  The Brewers in the last 5 years have been out spent by approximately 376 million dollars and have more wins. 

    • Like 1
    Jason Ross

    Posted

    1 hour ago, SB in SC said:

    I do not see the amount of money the Cubs spend as the primary issue.  They are failing at developing and drafting of players.  The Brewers in the last 5 years have been out spent by approximately 376 million dollars and have more wins. 

    Ian Happ, Nico Hoerner, Justin Steele, Cade Horton, Matt Shaw, Daniel Palencia, Pete Crow-Armstrong, Miguel Amaya...

    It is also likely that Owen Caissie, Moises Ballesteros, Jaxon Wiggins, Jonathon Long and Kevin Alcantara all make contributions next year. They will also likely see more players see time, like Ben Brown, Jordan Wicks, Javier Assad and a few others who have spent significant dev time with the team. 

    The Cubs are not failing at developing players nor are they failing at drafting players currently. They have also traded drafted players like Zyhir Hope, Jackson Ferris and Cam Smith for other MLB talents. 

    And it's not like these were universally lauded on draft day as "can't miss", either. 

    There was certainly a lull in young talent from 2017-2022, but part of that is because the Cubs traded players away and part of that was internal. The issue with the org right now, however, would not appear to be with finding and developing young players. 

     

    • Like 1
    CubinNY

    Posted

    2 hours ago, KJTchoup said:

    This is a fair article. It drives me bananas when Cubs fans state that the ownership does not spend at all. They do spend, however they just don't spend to the level of what fans expectation may be for the amount that they bring in in revenue.  It is just that simple.  Ownership does put a competitive team on the field, however they are just never going to spend to the level of a couple big revenue teams. I do not get worked up over it, and I don't understand why other fans do.  The Ricketts family simply runs their team as a business, not a public service for Cubs fans and they want to make profit off of it,  that is their prerogative, who am I to tell them differently.  I am not that entitled

    You are entitled to your opinion. How much is enough profit? How much should a family pay to see the team? Anything the owners decide? Do they have a responsibility that goes beyond owning a simple business, like, say, a furniture factory? If a furniture business made close to a 70% profit, how long would it stay in business without anti-trust protection, as baseball owners have? If the answers to these questions don't bother you, you are part of the problem. 

    • Like 1
    Joe Sbertoli

    Posted

    3 hours ago, KJTchoup said:

    This is a fair article. It drives me bananas when Cubs fans state that the ownership does not spend at all. They do spend, however they just don't spend to the level of what fans expectation may be for the amount that they bring in in revenue.  It is just that simple.  Ownership does put a competitive team on the field, however they are just never going to spend to the level of a couple big revenue teams. I do not get worked up over it, and I don't understand why other fans do.  The Ricketts family simply runs their team as a business, not a public service for Cubs fans and they want to make profit off of it,  that is their prerogative, who am I to tell them differently.  I am not that entitled

    If you are cheering for a fiscally responsible business man, Tom Ricketts is your guy. I understand why he is taking this approach, he is doing well for himself and his family. As a cubs fan, I wish he showed a willingness to spend on some of the biggest names on the market like he did when we brought in Lester and Heyward. We don’t win in 2016 without those guys. I feel like we are in a similar situation now. If we want to try to compete with the Brewers, we probably don’t have to do much more. If we want to compete with the Dodgers, Blue Jays, etc, we have to do more or we will watch last year on repeat.

    Thanks for commenting, I appreciate hearing your thoughts. Go Cubs!

    Joe Sbertoli

    Posted

    1 hour ago, CubinNY said:

    You are entitled to your opinion. How much is enough profit? How much should a family pay to see the team? Anything the owners decide? Do they have a responsibility that goes beyond owning a simple business, like, say, a furniture factory? If a furniture business made close to a 70% profit, how long would it stay in business without anti-trust protection, as baseball owners have? If the answers to these questions don't bother you, you are part of the problem. 

    Well said CubinNY, Go Cubs!

    • Like 1
    CubinNY

    Posted (edited)

    1 hour ago, Joe Sbertoli said:

    Well said CubinNY, Go Cubs!

     

    Thank you. But I don't think we know the whole story. I am also not sure if those Forbes numbers are accurate, but even if they are off by a lot, it doesn't matter. They don't want to pay for "past performance" (TM, PTR, 2017). They want to build a franchise by underpaying pre-arbitration and arbitration players and supplement them with veterans. But they won't pay a player one penny more than they think he should make, even if he's the best fit for the team. 

    I also think they are greedy mother horsefeathers and don't want to share profits with the other owners. So they have bought up the real estate around Wrigley and are heavily in debt (right now). They are using the Cubs to leverage their real estate speculation and finance their debt. It's probably all perfectly legal, but it means their "profit" is going into other things besides the Cubs. Again, probably perfectly legal. A cynic might even call it smart. So their overall goal is to create a destination and have Cub fans pay them the moment they get off the El until they get back on it or back to the bus. And their prices make Bob Igor blush. 

    So when PTR says they are trying to just break even, he's probably not lying, but he's not telling the whole truth either. 

    Edited by CubinNY
    • Like 2
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    Statyllus

    Posted

    Article strikes out on efficiency. Spending efficiency matters most.   

    2025 playoff field realities:

    Several playoff teams were below Dodgers/Mets payroll

    Several missed-playoff teams were above Cubs payroll

    Postseason outcomes are weakly correlated with raw payroll

    This undercuts the claim that:

    “Revenue rank should dictate payroll rank.”

    That’s a fan expectation, not an analytical rule.
    The Cubs are now better positioned to sign free agents than top spenders because many are in the most expensive tiers of CBT and surcharge penalties. See attached image. LAD must spend $2.10 for every dollar they add to their payroll in 2026. Cubs are great position for efficiency.

    IMG_1184.jpeg

    CubinNY

    Posted

    7 hours ago, Statyllus said:

     

    Article strikes out on efficiency. Spending efficiency matters most.   

    2025 playoff field realities:

    Several playoff teams were below Dodgers/Mets payroll

    Several missed-playoff teams were above Cubs payroll

    Postseason outcomes are weakly correlated with raw payroll

    This undercuts the claim that:

    “Revenue rank should dictate payroll rank.”

    That’s a fan expectation, not an analytical rule.
    The Cubs are now better positioned to sign free agents than top spenders because many are in the most expensive tiers of CBT and surcharge penalties. See attached image. LAD must spend $2.10 for every dollar they add to their payroll in 2026. Cubs are great position for efficiency.

    IMG_1184.jpeg

    lol. Say it bigger it might make it true. 

    Statyllus

    Posted

    On 12/27/2025 at 9:20 PM, CubinNY said:

    lol. Say it bigger it might make it true. 

    Milwaukee proves the point. Cubs outspend their division rival virtually every year but the Brewers prevail. I hope this font size  is more to your liking. 

    CubinNY

    Posted

    2 hours ago, Statyllus said:

    Milwaukee proves the point. Cubs outspend their division rival virtually every year but the Brewers prevail. I hope this font size  is more to your liking. 

    So by your definition the Cubs are(?)… unintelligent spending? There doesn’t need to be a .80 correlation for something to be generally true. The Cubs should be spending more- and that’s the point. Intelligent spending is just a business buzzword PTR put in the lexicon for or five years ago.

    They are not using the one advantage they do have over everyone else. So I guess we agree. That’s pretty unintelligent. 

    Statyllus

    Posted

    Circular logic at best…deliberate obtuseness at worst. 



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