Thompson just signed a split contract with the Reds in early November, but since he’s out of minor league options, Cincinnati must first expose the right-hander to the waiver wire before he can be removed from the 40-man roster and sent to Triple-A. Because Thompson has been cut from a 40-man roster in the past, he could opt for free agency if he clears waivers and the Reds now cut him outright, although Thompson would then have to walk away from the money owed to him for the 2026 season. The split contract pays Thompson $1.3 million for his time spent on Cincinnati’s big league roster.
Now entering his age-31 season, Thompson is looking to return to the Majors for the first time since the 2024 season. His 3.64 ERA over 227 1/3 MLB innings is quite respectable, and working exclusively in a relief role with the Cubs in 2024 boosted Thompson’s strikeout rate to a personal best 28.3%. These numbers and Thompson’s ability to cover multiple innings seemingly made him a pretty interesting bullpen weapon for the Cubs, but the team may have been disappointed with Thompson’s lack of control. The righty’s walk rate increased to 14.7% in 59 big league innings during the 2023-2024 seasons.
Chicago designated Thompson for assignment last March and then cut him from the 40-man, which led to Thompson spending the entirety of his 2025 season at Triple-A Iowa. Thompson had a 4.50 ERA over 64 innings at Iowa, but also a 29.5% strikeout rate and 8.9% walk rate that failed to get the Cubs’ attention for another look at the Show.
Teams in need of bullpen help could potentially claim waivers for Thompson, though a claiming team would also absorb the potential $1.3 million price tag of the split contract. It might not be a huge price to pay if a rival club sees an advantage in Thompson’s ability to chew up bullpen innings, or if the coaching staff views Thompson’s control as a correctable problem. In lieu of a claim, Thompson could pass up another trip to the open market and opt to remain in Cincinnati’s organization, likely expecting a potential DFA sometime this winter.
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