Cody Bellinger and the Chicago Cubs have agreed to a one-year, $17.5 million deal, per Jeff Passan.

Bellinger is hoping he can rebuild his market with a strong performance on a one-year contract. He's continued to play well on defense, but Bellinger's offensive struggles have been well-documented with the Los Angeles Dodgers over the past two seasons. He will aim to turn things around in the Windy City.

Insider Jorge Castillo shared an update on Cody Bellinger's contract with the Cubs.

“Bellinger’s deal is for one year with a mutual option for a second year. It’s a $12 million salary in 2023 and a $5.5 million buyout if the mutual option isn’t picked up — essentially a one-year deal because the option isn’t expected to be exercised,” Castillo wrote on Twitter.

Bellinger was not set to hit MLB free agency this offseason. But the Dodgers opted to non-tender him amid his hitting woes. The decision to non-tender Bellinger was a difficult one for Los Angeles. Nevertheless, they felt as if it was time to move on.

There is no question that Bellinger's ceiling is high. He was the National League MVP just a few years ago and offers a unique blend of speed, power, and defense. The Cubs are likely a few years away from contending, so Bellinger will have the opportunity to rebound in a low-pressure environment.

It will be interesting to see how he fares in Chicago. Despite his recent struggles, Cody Bellinger will be missed by the Dodgers' faithful.