Braves catcher Drake Baldwin is the 2025 National League Rookie of the Year, the Baseball Writers Association of America announced. Cade Horton of the Cubs and Caleb Durbin of the Brewers finished second and third in the voting, respectively. Baldwin’s win will net Atlanta a bonus draft pick after the first round in 2026, via the Prospect Promotion Incentive. Horton earns a full year of service time from his top two finish. The full voting results can be found here.
Baldwin came into the year as one of the top prospects in baseball. Since he finished the 2024 season at Triple-A, he had a shot at a big league job to start 2025. However, Atlanta was set to open the season with Sean Murphy as the primary backstop. Rather than be a backup at the major league level, there was an argument for Baldwin to stick at Triple-A and get regular reps.
In early March, Murphy suffered a rib fracture, an injury with a timeline of four to six weeks. That opened the door for Baldwin to get an Opening Day job. He hit well in the spring and Atlanta added him to the roster prior to Opening Day. Though Murphy got healthy by early April, Baldwin had already started producing and he never really stopped. The two shared the catching duties fairly evenly for a few months, though Murphy returned to the injured list in September due to a right hip labral tear.
Baldwin finished the year with 446 plate appearances over 124 games. He hit 19 home runs and slashed .274/.341/.469 for a wRC+ of 125. That means he was 25% better than the league average hitter, though that’s even further above par for a catcher. Most outlets considered his defense to be a bit below average, but not by much. FanGraphs credited him with 3.1 wins above replacement on the year.
While Baldwin’s win is surely gratifying for him personally, it also benefits the team. The current collective bargaining agreement introduced measures to combat service time manipulation. If a team promotes a top prospect early enough for him to earn a full service year, then that player meets certain awards criteria, the team is awarded with an extra pick just after the first round in the next draft. Since Baldwin was a consensus top prospect who was up all year, his Rookie of the Year win gives Atlanta a PPI bonus pick in 2026.
Horton also came into the season as one of the top prospects. He had finished 2024 at Triple-A but with just five appearances at that level. He was sent back to Triple-A to start 2025 but the Cubs needed rotation help fairly early on, as Justin Steele and Shota Imanaga were both on the injured list by early May.
Horton was called up on May 10th. He stayed up with the club the rest of the way, though a rib fracture put him on the injured list late in September. He finished the season with 118 innings pitched, having allowed 2.67 earned runs per nine.
There was probably some luck in there. Horton’s 20.4% strikeout rate was subpar, though his 6.9% walk rate was good and his 42.3% ground ball rate right around average. His .258 batting average on balls in play and 78.3% strand rate were both to the fortunate side. ERA estimators like his 3.58 FIP and 4.26 SIERA feel his ERA should have been around a run higher, though the performance was still good enough for a second-place finish in the voting.
That is significant for Horton, as there’s a flipside to the aforementioned PPI bonuses for teams. If a top prospect is not promoted early enough in the season to get a full service year, he can earn one retroactively with a top-two finish in the Rookie of the Year voting. Horton only earned 142 service days this year, 30 shy of the 172 needed for a full season, but this vote result will get him bumped up to the one-year mark. That means he will be on pace to become a free agent after 2030 instead of 2031.
Durbin was not a top prospect to open the year, meaning PPI wasn’t a factor for him, but he had a good season regardless. Acquired from the Yankees last offseason, he was called up in April and took over the third base job in Milwaukee. He appeared in 136 games and stepped to the plate 506 times. He hit just 11 home runs and didn’t walk much but rarely struck out, leading to a .256/.334/.387 line and 105 wRC+. He also stole 18 bases and was credited with five Defensive Runs Saved and two Outs Above Average at the hot corner.
Several other players also received some recognition from the voters. Isaac Collins of the Brewers finished fourth, followed by Daylen Lile of the Nationals, Agustín Ramírez of the Marlins, Chad Patrick of the Brewers, Jakob Marsee of the Marlins, Jack Dreyer of the Dodgers, Matt Shaw of the Cubs, Jacob Misiorowski of the Brewers, Nolan McLean of the Mets and Heriberto Hernández of the Marlins.
Photo courtesy of Geoff Burke, Jordan Godfree, Isaiah J. Downing, Jeff Hanisch, Imagn Images
Veteran right-hander Kyle Hendricks is calling it a career. The longtime Cubs hurler, who spent the 2025 season with the Angels, is retiring, per Maddie Lee of the Chicago Sun-Times.
Hendricks, now 35, will be forever associated with the curse-breaking Cubs but was originally drafted by the Rangers. Texas grabbed him with an eighth-round pick back in 2011. A year later, while in High-A, he was flipped to the Cubs as part of the July 2012 trade which sent Ryan Dempster to Texas.
He continued to climb the minor league ladder and debuted with the Cubs in 2014. He made 13 starts that year, logging 80 1/3 innings, allowing 2.46 earned runs per nine. His velocity was barely above 90 miles per hour but he showed strong command of a five-pitch mix, relying more on disrupting hitters’ timing than missing bats. He would eventually earn the nickname “The Professor” on account of both his cerebral approach to pitching and the fact that he went to Dartmouth College, an Ivy League school.
At that time of his debut, the Cubs were still looking for their first World Series since 1908 and were also rebuilding. Despite a strong debut from Hendricks in 2014, the Cubs finished fifth in the National League Central for a fifth straight year.
But the light at the end of the tunnel was getting brighter. Guys like Hendricks, Anthony Rizzo, Jake Arrieta and Javier Báez were already on the roster. Kris Bryant hadn’t yet debuted but was the top prospect in baseball going into 2015. The Cubs made a big splash to signal a new era by signing Jon Lester to a six-year, $155MM deal.
In 2015, Hendricks got to pitch his first full big league season. He logged 180 innings over 32 starts with a 3.95 ERA, 22.6% strikeout rate, 5.8% walk rate and 51.3% ground ball rate. The Cubs emerged from their rebuild, winning 97 games and nabbing a playoff spot. At that time, the Wild Card round was just a one-game playoff between two clubs. The Cubs got by the Pirates and then beat the Cardinals in the NLDS, felling two division rivals, but were swept out of the NLCS by the Mets.
The Cubs and Hendricks found another gear the following year. Hendricks led the majors in ERA with a 2.13 figure over 190 innings. He finished third in Cy Young voting behind Max Scherzer and Lester. The Cubs won 103 games and finished atop the Central. They beat the Giants in the NLDS and the Dodgers in the NLCS. The latter series was clinched by Hendricks throwing 7 1/3 shutout innings in Game Six. That set up a matchup against Cleveland in the World Series, which would eventually go to seven games. Hendricks got the ball in the final game and went 4 2/3 innings, allowing one earned run. The Cubs would eventually win the game 8-7 in ten innings. Hendricks had a 1.42 ERA over five starts in that postseason.
That ultimately proved to be a peak for the franchise and for Hendricks himself, though the team had a few more winning seasons and Hendricks continued to be a solid piece of the rotation. In March of 2019, he and the Cubs agreed to a four-year, $55.5MM extension. That deal was set to keep him at Wrigley through 2023, though the Cubs would eventually pick up a club option for 2024 as well.
By that time, Hendricks had seen his results slip. As mentioned, he was never a huge velocity or strikeout guy but those attributes had fallen further from par as he aged. That led to him posting a 5.92 ERA in 2024. After that season, he and the Cubs finally parted ways. Early in the 2024-25 offseason, he signed a one-year, $2.5MM deal with the Angels. He grew up in Southern California, so this allowed him to pitch for a team close to his roots for the first time. He made 31 starts for the Halos with a 4.76 ERA.
Overall, Hendricks pitched in 307 games and logged 1,745 innings with a 3.79 ERA, 105 wins and 91 losses. He made 146 quality starts, including six complete games and four shutouts. He struck out 1,373 opponents. Baseball Reference estimates he earned just over $86MM in his career. We at MLB Trade Rumors congratulate The Professor on a fine career and wish him the best on whatever comes next.
Photo courtesy of Jeff Curry, Katie Stratman, Imagn Images
Shota Imanaga will be returning to the Cubs, as The Athletic’s Patrick Mooney reports that the left-hander has accepted the team’s one-year, $22.025MM qualifying offer. The surprising decision means that Imanaga stays put after his time in Wrigleyville seemed to be over, following a series of declined contract options on the part of the Cubs and Imanaga himself.
The four-year, $53MM deal that Imanaga signed with Chicago in January 2024 guaranteed Imanaga $23MM over the first two seasons, and this offseason presented both sides with decisions. The Cubs had to decide whether or not to exercise a three-year option on Imanaga’s services that would’ve paid him $57.75MM over the 2026-28 seasons, and the team decided to decline. Imanaga then had a $15.25MM player option for just 2026 that he also declined, even though exercising that option would’ve then created a $42.5MM club option for the Cubs for next winter covering the 2027-28 seasons that (if declined) would’ve created a $15.25MM player option for Imanaga for 2027.
The Cubs issued Imanaga the qualifying offer to ensure some compensation if Imanaga signed elsewhere, yet as it turned out, Imanaga will indeed take a one-year pact to remain, with roughly $7MM added beyond the price of his player option. He would’ve locked in at least $30.5MM for himself by exercising his player option and generating that other player option for next winter, so he is currently leaving $8.475MM on the table given how this rather complicated situation turned out.
A 2026 season more in line with Imanaga’s impressive 2024 rookie campaign will easily land a multi-year contract worth far more than $8.475MM next winter, even though the lefty turns 33 in September. He’ll be able to re-enter next year’s free agent market without the QO compensation attached to his services. This removes one obstacle for Imanaga in free agency next winter, but more consistency on the mound will be the deciding factor.
Imanaga posted a 3.73 ERA, 20.6% strikeout rate, and an elite 4.6% walk rate over 144 2/3 innings for Chicago this season. Apart from his great control and the solid bottom-line ERA, the rest of Imanaga’s peripherals were almost all well below the league average. The problems included a lot of hard and high-impact contact, as only three pitchers allowed more home runs than Imanaga’s 31 big flies in 2025.
A hamstring strain cost Imanaga most of May and June, but he still managed a 2.40 ERA over his first 75 innings of the year before things started to turn in the second half. Twenty of Imanaga’s 31 home runs allowed came during his last 69 2/3 innings of the season, resulting in a 5.17 ERA. Things didn’t get any better in the playoffs, as the southpaw posted an 8.10 ERA and gave up three more homers in 6 2/3 frames of postseason work.
These issues with the long ball were also apparent in Imanaga’s 2024 season, if not to the same extreme level. He also allowed less hard contact and had a solid 25.1% strikeout rate, while delivering a 2.91 ERA over 173 1/3 innings. This excellent debut season earned Imanaga a fourth-place finish in NL Rookie of the Year voting, a fifth-place finish in Cy Young Award voting, and his first All-Star nod.
Given how well Imanaga was seemingly adjusting to the big leagues over his first season and a half, it seemed like a lock that the Cubs were going to exercise their options to keep Imanaga in the fold through 2028. However, his rough finish to the season seemingly changed the Cubs’ mind about such a substantial commitment.
Likewise, Imanaga and his reps at Octagon could’ve been concerned over how the market would react to his homer-heavy final 69 2/3 innings. MLB Trade Rumors ranked Imanaga 22nd on our list of the offseason’s top 50 free agents and projected him for a three-year, $45MM deal, but Imanaga and his reps at Octagon might have viewed the qualifying offer as an impediment to an acceptable contract. If Imanaga was going to have to settle for a short-term “prove it” type of deal anyway, accepting the QO allows him to aim for a bounce-back season in a familiar environment, and for a bigger one-year average annual value.
Returning to the Cubs also allows Imanaga to play for a team that should again be playoff contenders. Starting pitching should still continue to be a need for Chicago even with Imanaga back, but at least one box has now been checked off of the team’s rotation plans. Imanaga joins Matthew Boyd, Cade Horton, Jameson Taillon, and Colin Rea in the projected starting five, with Justin Steele theoretically able to return from a UCL revision surgery relatively early in the 2026 campaign. Javier Assad and Ben Brown are also on hand, but the Cubs will want to bolster this group with at least one more reliable starter, given how the team didn’t trust its depth (including Imanaga) during the postseason.
Inset photo courtesy of Kamil Krzaczynski — Imagn Images
