Cubs Option Ben Cowles to Triple-A Iowa After Waiver Claim Round-Trip

Ben Cowles has now been acquired by the Chicago Cubs three times, and the paperwork keeps coming. The organization optioned the 26-year-old utility infielder to Triple-A Iowa on March 8, capping a dizzying offseason stretch that took him from Chicago to Charlotte to Toronto and back again in roughly six months.

The transaction itself was the predictable final step in an elaborate roster shuffle. The Cubs designated Cowles for assignment on February 15 to create 40-man roster space for the signing of right-hander Shelby Miller, whose two-year, $2.5 million contract was finalized that same day. Once Miller was placed on the 60-day injured list, freeing that 40-man spot, the Cubs had room to reclaim Cowles after Toronto put him back on waivers. The Blue Jays had claimed him on February 18 but held him for just 11 days before signing three-time Cy Young Award winner Max Scherzer required a roster opening. During that brief Toronto stint, Cowles appeared in five spring training games and went 0-for-9 with five strikeouts.

The revolving door started much earlier. The Cubs designated Cowles for assignment in September 2025 to make room for Carlos Santana, and the crosstown White Sox claimed him. He appeared in 15 games for Triple-A Charlotte before Chicago's South Side team DFA'd him in January 2026 to clear a spot for Munetaka Murakami. The Cubs then reclaimed him, triggering this latest option to Iowa.

On the field, Cowles' 2025 numbers explain the organizational caution. Splitting 128 games between Triple-A Iowa and Triple-A Charlotte, he slashed .235/.300/.371 with nine home runs and a 71 wRC+ across 527 plate appearances. He added 18 stolen bases but was caught eight times, and his 48 RBIs came against the backdrop of a below-average offensive profile. That represents a sharp step back from his 2024 breakout in the Yankees system, where he hit .294/.376/.472 with nine home runs in 378 plate appearances at Double-A before a wrist injury made him available in trade. The Cubs acquired him that July alongside right-hander Jack Neely in exchange for Mark Leiter Jr., though Cowles appeared in just four games for the Cubs organization that year due to the injury.

Originally a 10th-round pick by the Yankees in 2021, Cowles has yet to make his major league debut. His path to a Cubs bench role is further complicated by the presence of infielder Matt Shaw on the 40-man roster. Defensively, he has logged time at shortstop, second base, third base and limited outfield appearances, and he carries two minor-league options remaining, which is precisely why multiple organizations have found him useful as depth without necessarily wanting to commit a permanent 40-man spot.

At Iowa, Cowles will need a meaningful offensive rebound to change that calculus. The infrastructure is there for a bigger role if injuries hit the big league club, but the transaction history of the past six months makes clear that his margin for error is thin.