There are plenty of valid criticisms to level at Jed Hoyer, as a top executive in baseball operations. He was hired by the Ricketts family to replace his predecessor and mentor, Theo Epstein, partially because he’s a more fiscally cautious, more easily managed version of Epstein. From a fan’s perspective, Hoyer’s inability to manage up and massage more money out of the ownership group is a problem. It’s an obstacle to the sustained success the Cubs and their fans have never enjoyed, and which should be their goal.
Hoyer also hasn’t built as strong a player development or scouting operation as he has attempted to construct, putting more pressure on expensive acquisitions to power each year’s version of his team. That might be beginning to change, but it’s already taken longer to do so than it was supposed to, and Hoyer’s track record in that area is shaky. Like Epstein, he’s generally been good at allocating resources toward those departments, but unspectacular when it comes to actually finding or retaining excellent people to do that work. (Perhaps, in Dan Kantrovitz and Tyler Zombro (and before Zombro, Craig Breslow), we’re beginning to see that change, too.)
One thing Hoyer receives considerable guff for, however, really isn’t fair. Fans tend to catastrophize, and because the catastrophe most often facing the Cubs is a lack of star power stemming from ownership’s refusal to spend the type of money the Dodgers, Yankees, Mets, Phillies and Blue Jays do, many people accuse Hoyer of being habitually inactive in building his teams. That’s just not the case. While he’s limited by his own natural conservatism; a lack of Epstein’s excellence at getting into the room and wooing a player he wants; and the Ricketts’ greed, Hoyer never lets an opportunity to improve his team pass without substantial action.
When he took over in the fall of 2020, there was bad business at hand. The Rickettses put him under the gun, budget-wise, and to make payroll work, Hoyer had to make some unwelcome decisions. He non-tendered Kyle Schwarber, and traded Yu Darvish. However, that Darvish trade was a big thing, in which the team received (among others) Owen Caissie. He also got Zach Davies in that deal, at least partially stabilizing his weakened rotation. When the Rickettses made a midwinter course correction and let him spend some money after all, it was too late to get Schwarber back, but Hoyer splashed that cash around as best he could, signing players like Joc Pederson, Jake Arrieta and Andrew Chafin.
At the 2021 trade deadline, of course, Hoyer was equally aggressive, painful though it was. By gutting a team that fell apart in late June, he got not only Pete Crow-Armstrong, but Kevin Alcántara and Daniel Palencia (among a much bigger group of players, many of whom didn’t pan out). He was decisive and aggressive.
In the lockout winter of 2021-22, he started to build the contender he envisioned, not necessarily in 2022 but especially in 2023. Even in a year when he knew the team would still be rebuilding, he signed Marcus Stroman (three years, $71 million) and Seiya Suzuki (five years, $85 million) to noteworthy deals. Those guys became parts of his medium-term plan, and they were solid moves for a team that was not yet ready to make a bigger splash. Suzuki, of course, has paid off in especially impressive fashion, figuring out American big-league pitching just in time to be instrumental for the team’s resurgence.
The following offseason, sensing that his team was close to ready for a forward surge, Hoyer got more aggressive. He gave Jameson Taillon four years and $68 million and Dansby Swanson seven years and $177 million, in addition to rolling the dice on Cody Bellinger at one year and $17 million. Those weren’t the even bigger moves many fans wanted to see, but Hoyer did (generally) get them right, and they represented major investments in the team. Bellinger, especially, gave him a wonderful return on investment, and Taillon and Swanson have cleared the most important bar for deals of those kinds: three years later, they’re not regrettable moves.
The 2023 team came up short of its goals, for which Hoyer bears plenty of blame. He responded, though, with another strong and very active winter. The proactive, opportunistic trade for Michael Busch might be remembered as the best move he ever made. Later in the offseason, he pounced on the somewhat underrated Shota Imanaga, and the deal to which he inked him turned out to be team-friendly in multiple ways. After waiting out Bellinger’s market well into February, he got him back on shockingly good terms, too.
Last winter, after another season of frustration for the team, he pressed the pedal down even harder. He signed Matthew Boyd for two years and $29 million, and while those numbers didn’t lead anyone to expect a great deal out of him, a great deal is exactly what Boyd has proved to be. His bigger, bolder move, of course, was the trade for Kyle Tucker, wherein he used players acquired at the 2022 (Hayden Wesneski) and 2024 (Isaac Paredes) trade deadlines to land a genuine superstar.
These lists of transactions aren’t exhaustive, either. Along the way, Hoyer has been fairly active (though not always very accurate) in his efforts to round out the roster each winter, with signings and trade acquisitions like Tucker Barnhart, Trey Mancini, Héctor Neris, Carson Kelly, Colin Rea, Caleb Thielbar and Justin Turner. These are the kinds of moves for which no executive needs to be given much credit, and for which they shouldn’t receive much blame, either; they’re the table stakes for the offseason in the modern game. But many teams stop with moves like those. Hoyer has made it a habit to acquire two much higher-level players than that every winter, and while some fans would gladly trade one or two of the deals he’s signed to make the bigger splash (signing Trea Turner instead of Swanson, for instance, or landing Yoshinobu Yamamoto instead of Imanaga), Hoyer’s slow and steady approach means the Cubs get better between Halloween and Easter, each and every winter.
Does this mean fans should give Hoyer the benefit of the doubt, in all cases? I would be a strange courier to deliver that message. He has some profound and important weaknesses as an executive, too. However, worries that the Cubs won’t do anything more notable this winter than signing Phil Maton—or, indeed, that they won’t do at least two things much more notable than that—simply aren’t supported by facts. Hoyer’s track record says he will make big moves this winter. They just might not be as big as you’d like.