Alex Bregman, the most coveted free agent on the market this offseason, reportedly will be a Chicago Cub.

The veteran third baseman agreed to a five-year, $175 million contract with the Cubs on Saturday night, ESPN’s Jeff Passan reported, citing sources.

Passan also reported that Bregman’s deal has a full no-trade clause and no opt-outs. The Athletic’s Ken Rosenthal added, per his sources, that $70 million of the $175 million is deferred money.

Bregman, 31, figures to be the Cubs’ starting third baseman next season, displacing Matt Shaw, who played in 126 games last season and hit .226 with 13 home runs and 44 RBI. Bregman, though, is a clear upgrade. He’s one of MLB’s top right-handed sluggers and a three-time All-Star, and he won two World Series championships with the Houston Astros.

Bregman turned down the Cubs’ overtures last offseason and played for the Boston Red Sox in 2025, hitting .273 with 18 homers and 62 RBI in 114 games. But Bregman’s Red Sox contract — three years for $120 million on paper — was laden with opt-outs, and he chose to test the free-agent market after only one season.

Bregman has 209 homers and 725 RBI during his 10-year MLB career, with nine of those years in Houston.

In a story for ESPN.com, Passan wrote that the Cubs’ Bregman interest “had as much to do with his leadership traits as it does his pull-happy offensive approach that should fit well at Wrigley Field.” Passan also noted Bregman’s “baseball IQ, interpersonal skills and work ethic” as positive traits that the Cubs now will have in their clubhouse, once the deal is official.

Bregman’s reported addition caps a busy week for the Cubs, who acquired right-hander Edward Cabrera from the Miami Marlins in a trade Wednesday. Bregman’s contract will rank third in Cubs history in total value, behind Jason Heyward’s $184 million and Dansby Swanson’s $177 million.

Bregman and Swanson, who is signed through 2029, will be the only Cubs players locked up on long-term deals.