Jason Heyward signed a contract with the Cubs today for a reported 8 years, $184 million. The dollar figure/length should be familiar to Twins fans: it's exactly what Joe Mauer got five years ago (meaning there are three years to go on that baby).
Heyward is a valuable player — one of the most valuable in the entire game if we judge this on WAR and look at his 2015 numbers – but he's also an outfielder who had a lower slugging percentage last season than Eduardo Escobar did.
Cubs fans are extremely excited about this because Heyward will help them win and also because he was signed away from the rival Cardinals. He's also only 26 years old, so there's a decent chance he'll earn his contract for many of the years ahead. Or since arguably his best year in the majors was still his 2010 rookie season, Heyward might torpedo into the ground, with the Cubs on the hook for his contract and all the guaranteed money.
And it will not matter either way.
OK, let's back up. It will matter in the sense that the Cubs would be better off if he performed well. But in the context of the team, Heyward could be a massive failure and the Cubs in a couple years could just sign his replacement.
Of the four big-money U.S. pro sports leagues, MLB remains the one without a salary cap. There are penalties and revenue sharing, but there is also this: the Dodgers had a payroll that reached $300 million in 2015; the Marlins had a payroll that was one-fifth that much.
This lack of a salary cap is the single biggest reason, I would say, that when it comes to MLB and free agency, fans lose their minds. Like, normally rational people demand their teams do something, ANYTHING. Only I get it because in the context of this league, nothing is absurd. Your payroll is as big as you want it to be.
It leads to an interesting juxtaposition that is playing out with the Twins, Vikings, Wild and Timberwolves. All four teams arguably have nice young cores. The Wild is a little different because 1) the young players have been here a little longer and 2) the organization has spent considerably in free agency to bolster the roster. You could even argue that more of the "most important" players on the Wild came from outside the organization than from within.