Chicago Cubs President of Baseball Operations Jed Hoyer met with the media today in the wake of the team missing out on Alex Bregman, who ultimately chose the Boston Red Sox on a deal that’ll pay him $120 million over the next three years, with opt outs after each of the first two years. There are deferrals involved that bring the value down, but it does sound like it was more than the Cubs were offering in any case.

Hoyer said he felt like the Cubs made a strong offer, but that Bregman simply got more from the Red Sox. He is appreciative of Cubs ownership agreeing to stretch the budget to make sure the Cubs could seriously pursue Bregman (and I suppose we can divine from that whatever conclusions we would like about the state of that budget):

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