I genuinely don't think it was ever the case that the Chicago Cubs felt Shota Imanaga had nothing to offer in 2026. I think there were long-term concerns that came with opting into the additional three years of his unique contract structure, which would take the left-hander into the back half of his 30s.
When Imanaga turned down his $15.25 million player option for 2026, he was set to hit free agency - and, again, it makes sense. Turn it down, put out some feelers and see what might be out there. And if what's out there isn't to your liking, you knew the Cubs were going to extend a qualifying offer, worth a tick over $22 million, so 'worst-case' scenario, Imanaga knew he could lock in next year with a nice pay bump over what he would have gotten via that player option.