It was clear, even before news broke that the Cubs had reached a complicated agreement with free agent lefty Shōta Imanaga, that the Red Sox’ bid for him had fallen short. Now the world knows just what exactly chief baseball officer Craig Breslow offered the Japanese southpaw.

Imanaga’s deal guarantees $53 million over four years ($13.25 million average annual value) and comes with options and opt-outs that protect both parties. Per MLBTradeRumors: “The deal contains a fifth-year team option and could reach $80MM. The Cubs will need to decide after the 2025 and potentially ‘26 seasons whether to exercise the option for 2028. If the club declines the option at either point, Imanaga would have the ability to opt out and become a free agent. He receives limited no-trade rights and would earn a full no-trade clause if the Cubs exercise either of their options.”

According to Speier, Boston’s offer was for “two guaranteed years with the potential for two additional vesting years.”

“The Sox’ guaranteed money was slightly more than what the Cubs will pay Imanaga for his first two years, but the left-hander opted for the longer deal, which offers more stability, more control — he can opt out after 2025 if the Cubs do not extend the deal to five years — and considerable financial upside,” Speier wrote.

Even before the final bids came in, the Red Sox were considered a “long shot” to sign Imanaga, according to one source involved in the negotiations, because their offer was not nearly as attractive to him as others he received. Based on Speier’s reporting, that proposal offered far less than the $80 million opportunity he has with Chicago. Another factor may have been the fact Imanaga reportedly spent the last few weeks in Chicago, where his agent, Octagon’s Alan Nero, is based.

The Imanaga pursuit is the latest instance of the Red Sox getting outbid for a free agent target this winter. Boston has signed just one free agent for more than $1 million — Lucas Giolito, who signed a one-year, $19 million deal with a player option for 2025 — while losing out on many other targets, largely because they didn’t offer the best deal. Boston is known to have fallen short on starters Yoshinobu Yamamoto and Seth Lugo, outfielder Teoscar Hernández and a handful of others this winter.

MassLive’s Sean McAdam spoke to a veteran scout who had watched Imanaga extensively in both the World Baseball Classic and NPB and said he profiled as a back-end starter.

“He’s an undersized lefty who can really throw strikes,” said the evaluator. “He has a plan out there on the mound. He’s not overpowering but I think his strike-throwing and feel to pitch are really his strengths. The (four-seamer) fastball plays. It’s got ride to it, and it’s also got some spin to it. He’s got the ability to got some swing-and-miss with it, even though it’s not overpowering. He can locate it, move it around the zone and keep it away from the barrel.

“I would say his next best pitch would be his split-change. Hitters don’t see that over here as much, and he can throw it to both lefties and righties. After that he has a slider which he throws to lefties, and a curve.

“I see him as a back of the rotation guy. He’s a strike-thrower, but when it comes down to just the quality of the pitches, that gives me a little pause. And the durability.”