Per Article XX-B of the CBA, any player on an MLB Reserve List who has accrued at least six years of MLB Service Time and who is not signed for the following season becomes a free-agent at 9 AM (Eastern) on the first day after the final game of the World Series (or 9 AM Eastern on October 15th if the World Series is cancelled).
Service time accrued while on the active roster of a foreign club(s) may be considered when determining Article XX-B and Article XIX-A contractual rights & eligibility.
The player's former club retains exclusive negotiating rights with an Article XX-B player up until 5 PM (Eastern) on the 5th day after the final game of the World Series (or 5 PM Eastern on October 20th if the World Series is cancelled), after-which the player is free to sign a Major League contract (or minor league contract) with any club, including with the player's former club.
POTENTIAL CUBS ARTICLE XX-B MLB FREE-AGENTS POST-2023 (updated 9-8-2023):
Cody Bellinger, OF (mutual option)
Brad Boxberger, RHP (mutual option)
Jeimer Candelario, 3B-1B
Michael Fulmer, RHP
Yan Gomes (club option)
Kyle Hendricks, RHP (club option)
Drew Smyly, RHP (player opt-out)
Marcus Stroman (player opt-out)
An Article XX-B MLB free-agent who signs a Major League contract after 11:59 PM (Eastern) on the 5th day after the final game of the World Series (or after 11:59 Eastern on October 20th if the World Series is cancelled) receives automatic "no trade" rights that extend through June 15th of the following season, even if the player re-signs with his former club. An Article XX-B MLB Free-Agent who receives "no trade" rights this way can waive the right, but if he does, his club can trade the player only for player contracts and/or cash with a maximum aggregate value of $50,000. Note that a player who signs a Major League contract after becoming a free-agent by any other means (Outright Release, Non-Tendered, or Article XX-D or MLB Rule 9 minor league free-agent) does NOT receive automatic "no trade" rights through June 15th.
POST-2023 ARTICLE XX-B MLB PLAYERS ON CUBS MLB RESERVE LIST (updated 6-15-2023):
If an Article XX-B MLB free-agent signs a minor league contract at least ten days prior to MLB Opening Day, and then is not selected to an MLB Reserve List (40-man roster) or MLB 60-day Injured List by 12 PM (Eastern) on the 5th day prior to MLB Opening Day, the player can unilaterally opt-out of the minor league contract immediately, or on May 1st if he has not been added to an MLB Reserve List or MLB 60-day IL by that date, or on June 1st if he has not been added to an MLB Active List (25-man roster) or an MLB IL by that date.
NOTE: The $100,000 retention bonus paid to an Article XX-B free-agent signed to a minor league contract who is not released or added to an MLB Reserve List or MLB 60-day IL by MLB Opening Day has been eliminated in 2023.
2022 ARTICLE XX-B MLB PLAYERS SIGNED TO 2023 MINOR LEAGUE CONTRACT (updated 10-6-2022):