Jesus Luzardo

The Cubs have been extremely active on the trade market over the past week, but it seems their latest deal may have hit a snag. Bruce Levine of 670 The Score said on air this morning that Chicago’s talks for Marlins lefty Jesus Luzardo “appear to be dead” after having some serious momentum earlier in the week (audio link, Luzardo talk around the 2:13:45 mark). It’s not entirely clear whether the parties will seek to rekindle negotiations, but Levine suggests that medical reviews on one side or the other could have thrown a wrench into talks.

The natural inclination for many will be to presume that Luzardo’s medical records proved to be the hitch, but there’s no firm indication that’s the case. It’s every bit as possible that the Marlins took a look at medical records on one of the prospects who was a focal point in the proposed return and balked at what they saw.

Luzardo, 27, has repeatedly demonstrated front-of-the-rotation potential but hasn’t been able to consistently deliver results at that level — often due to injuries. He posted a 3.48 ERA with an excellent 28.7% strikeout rate against a sharp 7.9% walk rate in 279 innings from 2022-23 but missed time along the way due to a forearm strain. Luzardo, who had Tommy John surgery as a prospect, also spent time on the injured list early in 2024 due to elbow tightness. He returned and pitched well — 3.98 ERA over his next seven starts — only to land back on the injured list in mid-June with a lumbar stress reaction that wound up ending his season.

Luzardo has only reached 100 big league innings twice in his career and has only started more than 18 games in the majors once. Including minor league work, he topped 100 innings each year from 2021-23, but those are his only professional seasons doing so. His 178 2/3 innings from 2023 are far and away a career-high mark.

Durability concerns notwithstanding, prime-aged lefties who average around 96 mph on their heater while boasting plus swinging-strike and strikeout rates alike are rare. Add Luzardo’s at least average command into the mix, and the potential for him to emerge as a bona fide star is clear. He was a top-100 draft pick and one of the top pitching prospects in baseball prior to his debut, after all. However, keeping him healthy has been a difficult task for the A’s and Marlins alike.

Even if it was Luzardo’s medicals that held up a potential deal — and again, we decidedly do not know that to be the case — that doesn’t eliminate the possibility of a trade sending him elsewhere. We’ve seen plenty of past instances where one team backs out of a deal based on a player’s medicals while another club finds them acceptable. For instance, the Yankees reportedly nixed a trade for Jack Flaherty over the summer due to medical concerns. The Dodgers were comfortable enough making a deal and got 10 regular season starts out of Flaherty, plus another five in the postseason. Different teams have different thresholds, and everything that’s taken into consideration is done so relative to the valuation of the players going the other direction in the deal.

As for the Cubs and what might be next if the Luzardo talks can’t be revived — that’s an open question. The trade of Cody Bellinger trimmed $25MM of his $27.5MM salary from the books, giving Chicago plenty of flexibility. RosterResource estimates their current payroll to be around $174MM, with just over $191MM of luxury obligations. That puts the Cubs roughly $50MM shy of the first luxury threshold. At least on paper, that leaves room to add virtually any free agent without needing to worry about the luxury tax, though Levine pushes back strongly on the idea of Chicago making a run at Corbin Burnes.

There’s a clear need for bullpen help and a strong likelihood that the Cubs will jump into the market for some notable late-inning options. History suggests that president of baseball operations Jed Hoyer will prefer to keep any free agent commitments there to the short-term variety. Hoyer has not given out a multi-year deal to a reliever since taking over baseball operations in Chicago. Kirby Yates, old friend David Robertson and Kenley Jansen are among the older but still-effective closing options who could be had on short-term deals. If the Cubs are willing to break from their past behavior on the relief market and pursue larger-scale targets, then names like Tanner Scott, Jeff Hoffman and Carlos Estevez currently top the market.

Dec. 16: Bruce Levine of 670 The Score said in an appearance on the Mully & Haugh show this morning that the Cubs and Marlins have been working on a potential Luzardo deal for some time now (audio link, Luzardo talk at 7:37am mark). Levine adds that a trade for Luzardo is something the Cubs “would really like to get done … in the next few days.”

That, of course, doesn’t necessarily indicate that a trade is close at the moment, but it’s nevertheless notable that the two parties are in ongoing discussions and that the Cubs feel strongly about trying to push something across the finish line.

Dec. 14: The Cubs already added Matthew Boyd to their rotation this winter but remain interested in adding another prominent name (if not someone at the top of the free agent market) to a starter group that already includes Shota Imanaga, Justin Steele, and Jameson Taillon as the top three.  Such trade and free agent targets as Luis Castillo and Walker Buehler have been linked to Chicago already, and USA Today’s Bob Nightengale reports that the Cubs have also shown interest in Marlins left-hander Jesus Luzardo.

Reports surfaced during the Winter Meetings about some teams checking in on Luzardo’s services, as it could be that teams were investigating a buy-low possibility.  Luzardo has been mentioned as a potential trade candidate even before the Marlins entered their latest teardown, and had he been healthy in 2024, it is quite possible he would’ve already been shipped off to a different team prior to the last trade deadline.  Unfortunately for Luzardo and the Marlins, he was limited to 12 starts and 66 2/3 innings due to elbow problems and repeated back problems, including as a stress reaction in his lower back.

Injuries have essentially been the story of Luzardo’s career over his six Major League seasons with the A’s and Marlins.  He has 512 innings pitched across parts of those six seasons, with 178 2/3 of those frames coming in 2023.  Luzardo’s career 4.29 ERA includes a lot of peaks and valleys, with struggles in 2021 and 2024 undermining his otherwise above-average numbers.

The inconsistency resulted in lowering Luzardo’s price tag as he entered his arbitration years, and MLBTR projects him to earn $6MM this winter in his second of three arb-eligible seasons.  If he can replicate his 2023 form, his 2025-26 salaries will be a significant bargain for the Marlins or whatever team Luzardo is pitching for, and he is only entering his age-27 season.

The upside here is obvious, except the obvious concern for any interested teams is that they don’t know what version of Luzardo will show up in 2025.  This could make it hard for Miami to land on an acceptable trade package with the Cubs or any other team, simply because the Marlins naturally want to get as much as they can in return for one of their top trade chips.  Waiting until the deadline might be the wiser tack for Peter Bendix’s front office, as while Luzardo runs the risk of getting hurt again, a healthy and effective first half would restore his trade value.

670 The Score’s Bruce Levine reports that Miami is looking for a “young controllable bat back” in a Luzardo deal, and suggests that the Cubs would have to give up a top prospect like Owen Caissie or James Triantos.  Considering those two are both within the top 55 of MLB Pipeline’s rankings of the top minor leaguers in all of baseball, it would be bold on Chicago’s part to move Caissie or Triantos for an injury-prone pitcher coming off a 5.00 ERA season.

Then again, the Marlins scored a nice trade package for another oft-injured, inconsistent pitcher at the last deadline when they got Connor Norby and Kyle Stowers from the Orioles for Trevor Rogers.  While the deal raised eyebrows at the time, it underscored the value that teams put on controllable pitching.  Of course, the fact that Rogers heavily struggled after the trade to Baltimore also highlights the risk involved in such trades.  The Cubs have already shown their aggression this winter by trading for Kyle Tucker, and might be willing to dip into their deep farm system again in order to make a potentially huge rotation upgrade.  Assuming that the likes of Caissie or Triandos are even on the table in potential trades, Chicago might prefer to opt to move those kinds of prospects only for a more reliable pitcher.