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Well, Ken Rosenthal reported last night that the Cubs were looking to trade someone to make some salary room and maybe just pitching room for Cole Hamels. That has occurred according to Jerry Crasnick.
The Cubs will reportedly pick up Hamels’ $20 million option for 2019, and will make another trade with the Rangers. Drew Smyly is heading to Texas.
The #Cubs are picking up Cole Hamels' $20 million option today, according to sources. In a related move, they're trading pitcher Drew Smiley to the #Rangers.
— Jerry Crasnick (@jcrasnick) November 2, 2018
Sources confirm: #Cubs picking up Hamels’ $20M option, trading LHP Drew Smyly to #Rangers. TEX would have paid Hamels’ $6M buyout if CHC declined option. First reported: @jcrasnick.
— Ken Rosenthal (@Ken_Rosenthal) November 2, 2018
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The Cubs signed Smyly to a two-year, $10 million contract before the 2018 season. The lefty is coming back from Tommy John surgery and was hopeful to return by the end of last season, but time ran out.
Drew Smyly has a base salary of $7M in 2019, plus another $6M in performance bonuses. By moving his contract, the #Cubs will essentially pick up Cole Hamels' $20M option for a net cost of $13M.
— Jerry Crasnick (@jcrasnick) November 2, 2018
So, the Cubs shed $7 million to bring back Cole Hamels in 2019.
