Chicago, IL (AP) – The Chicago Cubs added Alex Bregman on Wednesday, finalizing a $175 million, five-year contract with the All-Star third baseman.

Bregman will be formally introduced by Chicago during a news conference on Thursday at Wrigley Field. With Nico Hoerner wearing No. 2 for the Cubs, Bregman will switch to No. 3 with his new team.

Chicago is deferring $70 million, which is 40% of the contract.

Bregman gets $35 million annually, with $15 million deferred this year and in 2029, $10 million each in 2027 and 28, and $20 million in 2030.

His deferred money is due in eight installments each July 31 from 2034-41. The payments are $1,875,000 each for the salaries of this year and 2029, $1,875,000 apiece for 2027 and ’28 and $2.5 million for 2030.

He receives a full no-trade provision and a hotel suite on road trips.

Bregman, who turns 32 in March, also was pursued by Chicago before he signed a $120 million, three-year contract with Boston last February, a deal that included opt-outs after each of the first two seasons. He attended an NHL game in Chicago on Monday night and got a big cheer when he was shown on the videoboard, wearing a Blackhawks jersey.

Bregman hit .273 with 18 homers and 62 RBIs in his only season with the Red Sox. He missed all of June with a quadriceps injury and appeared in 114 games, his fewest since 2021.

His contract with the Cubs includes a no-trade provision that allows him to block deals without his consent.

Bregman was selected by Houston with the No. 2 overall pick in the 2015 amateur draft out of LSU. He played his first nine seasons with the Astros, winning World Series titles in 2017 and 2022 — although the first of those yielded a sign-stealing scandal that earned Bregman and his teammates plenty of scorn.

Chicago finished second in the NL Central last year with a 92-70 record. The Cubs reached the playoffs for the first time since 2020 before getting eliminated by Milwaukee in a five-game Division Series.

The Cubs used Matt Shaw at third base last season, and the rookie played stellar defense while batting .226 with 13 homers, 44 RBIs and 17 steals in 126 games. Shaw also can play second base, but Hoerner is a two-time Gold Glove winner at the position.

The Cubs could make another trade to clear up the team’s infield situation, or Shaw could move into a super-utility role with Bregman’s arrival.

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AP Baseball Writer Ronald Blum contributed to this report.

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