Chicago Cubs Sign Pete Crow-Armstrong to Largest Contract Extension in Franchise History

Almost 24 hours later, we finally learned the details of Pete Crow-Armstrong’s record-setting contract extension with the Chicago Cubs. The soon-to-be 24-year-old and the Cubs have agreed to a six-year, $115 million deal that will begin in 2027.

ESPN’s Jeff Passan first reported that a deal was being finalized on Monday night, and then he revealed the details on Tuesday. The new contract will allow Crow-Armstrong to potentially become a free agent before his age-31 season. Meanwhile, the Cubs are buying out four years of arbitration and by guaranteeing a deal through the 2032 season, the team also bought out two free agent years for Crow-Armstrong.

Not only is this the biggest extension in the Cubs’ franchise history, but, given that Crow-Armstrong still had five more years of team control, it is also the biggest guarantee in MLB history for such players. The caveat is that the new six-year contract between the Cubs and Crow-Armstrong does not include any team or player options that could extend the deal if exercised.

The lack of a club option in Pete Crow-Armstrong’s deal with the Cubs is rare. This is by far the biggest guarantee for a player with five years of club control that doesn’t include an option. Cubs were still fine with it. They get a high-floor player with superstar ceiling.

— Jeff Passan (@JeffPassan) March 24, 2026

According to Jesse Rogers and Bob Nightengale, escalators in the contract could max out the total to $133 million.

The $115 million guaranteed price tag for Crow-Armstrong carries an average annual value of $19.17 million.

Largest Contract Extensions in Cubs History

Pete Crow-Armstrong’s newly signed deal ranks No. 1 in Cubs history for largest contract extensions.

Here are the top-5 contract extensions in Cubs franchise history.

1. Pete Crow-Armstrong: 6-Years, $115 Million
2. Carlos Zambrano: 5-Years, $91.5 Million
3. Aramis Ramirez: 5-Years, $75 Million
4. Sammy Sosa: 4-Years, $72 Million
5. Ian Happ: 3-Years, $61 Million

Cubs fans will now have an eye on a potential Nico Hoerner extension. The two-time Gold Glove winner at second base is in the final year of his previous three-year, $35 million contract extension that he agreed to prior to the 2023 season. Hoerner has been an outstanding player throughout his Cubs career, and whispers have been circulating this offseason that he and the Cubs have been in contact, potentially discussing a new extension.

As for Crow-Armstrong, he almost doubled what the Cubs reportedly offered him a year ago. Prior to the 2025 season, the Cubs approached the center fielder with a deal guaranteeing him $66 million, and, according to Bruce Levine, it could have reached the $90 million range based on incentives and options. Now, Crow-Armstrong is guaranteed $115 million, $49 million more than the original guarantee reported by the Cubs last April.