Cody Bellinger and the Chicago Cubs will continue their partnership as the two parties agreed on a new deal, scratching off the name of one of the top free agents coming into the 2024 MLB season.

The 28-year-old signed a one-year deal with the Cubs in 2022 with a mutual option and became a free agent by the end of the 2023 season.

It took them quite a while to agree on a new deal while other clubs splashed on their new signings but still arrived at a new agreement as the spring training is now in full swing.

Bellinger initially wanted a contract of around $250 million.

Cody Bellinger's contract breakdown

The two-time All-Star and 2020 World Series champ signed an $80 million, three-year contract with the Cubs. This means he will be with the team until 2026 if everything goes well for both sides.

According to the Associated Press, citing an anonymous source, his deal includes an opt-out term for the first two seasons. It will be a huge payday for him in the 2024 season, as he will earn $30 million. He will receive the amount in the next season and then $20 million in 2026 if he does not opt-out.

The deal greatly improved from the $17.5 million, one-season contract he signed during the summer of 2023.

His last few seasons with the Los Angeles Dodgers were riddled with injuries before joining the Cubs. He proved himself to be a good signing last season, posting a career-best .307 with 26 homers, 97 RBIs, and 20 steals in 130 games.

Bellinger also provides lift on the defensive end by manning the center and the first base.

His teammates celebrated Bellinger's return.

"Just the impact that (Bellinger) had on our group last year from a personality standpoint, from a versatility standpoint, and then obviously his ability to produce at a high level really made our team and put ourselves in position to have some success last year," shortstop Dansby Swanson.

"And that's something that we've been looking forward to being able to get back."

Team veteran Kyle Hendricks declared that Bellinger is an indispensable part of the club and that they thought there was a "little void in here" before the outfielder returned.

Highest annual salary in Cubs history?

Bellinger may have failed to secure a $250 million deal, but he could be at the top when it comes to the highest annual earner.

His $80 million is outside the Top 5 in largest Cubs contract. However, his $30 million for 2024 is the club's largest annual pay since his deal is just three years.

Jason Heyward's $184 million spanned eight years, while Dansby Swanson's $177 million covered seven years. That is around $23 million to $25 million.

Jon Lester's $25.8 million in 2019 was the highest annual salary before Bellinger's.

Darby Swanson will earn $25 million in 2024 after his massive deal. His biggest annual salary is set at $27 million by 2027.