Carlos Correa will not be joining the Cubs.
Correa, the All-Star free agent shortstop and a top Cubs offseason target, has agreed to a 13-year deal with the San Francisco Giants, ESPN’s Jeff Passan reported Tuesday night.
The deal is worth $350 million, for an average annual value of about $27 million for the 28-year-old Correa.
The Cubs were among the teams in on Correa, and San Francisco emerged with heavy interest after failing to land Aaron Judge, who returned to the Yankees on a nine-year deal.
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As arguably the top shortstop available this winter, he represented an opportunity for the Cubs to add a cornerstone piece during this rebuild as they look to compete in 2023.
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The Twins were also interested in retaining Correa; he spent last season with Minnesota and opted out of his three-year deal after the 2022 season.
Correa coming off the board leaves Dansby Swanson remaining among the four big-ticket shortstops in this offseason’s class.
Trea Turner came off the board first, landing a 11-year, $300 million deal with the Phillies last week. Xander Bogaerts then landed his own 11-year deal, worth $280 million, with the Padres.
The going rate in the shortstop market is high this winter, raising the question of what contract Swanson will land as the top shortstop left on the market.
Along with the Cubs, he's been linked to the Dodgers, Cardinals and Red Sox.