In a pivotal year, the Cubs are currently more than $30 million beneath the $241 million luxury-tax threshold, according to FanGraphs.

The Chicago Cubs fell short in their attempt to sign free-agent third baseman Alex Bregman after ownership approved stretching the budget to pursue him.

The Boston Red Sox signed Bregman to a three-year, $120 million deal. The Chicago Cubs were among the team shooting their shot for Bregman as team president Jed Hoyer was permitted to try to get Bregman to become a Cub by pushing their budget, according to the Chicago-Tribune’s Meghan Montemurro.