Chicago also declined a $7.5 million option on catcher Max Stassi.
The 29-year-old Moncada gets a $5 million buyout, completing a $70 million, five-year contract.
He played in just 12 games this year.

There’s absolutely no doubt about his raw tools and God-given talent.
Suffice to say, the saga on the Southside of Chicago gets progressively sadder with each development.
And that’s happening despite everyone knowing each development well ahead of time.
Just like it’s obvious MLB wants the White Sox in Nashville and they’re slowly headed that way.
Everyone sees the writing on the wall but that doesn’t make it any easier.
In this case the White Sox started to die three seasons ago.
It was around late May 2022 when the wheels really started to fall off in all respects.
By far and away the most passionate and dedicated fans, arguably anywhere for any sport outside the Northeast.
And now all those people are being force-fed shit burgers on a near daily basis.
So much that I want to puke, and I don’t even cheer for these assholes.
However, my father and my older brother are diehards.
There’s a lot of material on the table that only makes things worse.
Or Milton Bradley’s turned a corner.
Or Jacque Jones and Jason Marquis still have another gear.
Or that Ronny Cedeno can play 155 games a year at shortstop.
On it goes, over and again, creating a near 12-year gap between meaningful baseball seasons at Wrigley.
Then there’s like three solid years start-to-finish only to go right back to being overwhelmingly mediocre.
All of this to say it sucks for all of us.
White Sox fans can be down bad right now because of the Moncada news and related embarrassment.
But realistically, almost everyone else is extremely disappointed in their baseball team.
Even Dodgers fans are annoyed with the parade route and postseason Dodger dog surcharge and parking garage gouging.
At least wait for him to go 40/40 next year with the Boston Red Sox.