Cubs pick up Cole Hamels' $20M option but trade another pitcher to Rangers

The Chicago Cubs picked up Cole Hamels’ $20 million option for the 2019 season Friday, as first reported by Jerry Crasnick at ESPN and confirmed by Joel Sherman. They plan to send Drew Smyly to the Texas Rangers, according to the reports, to free up money for the ace lefty’s hefty salary.

The teams involved have a connection in the front office, and worked together on the initial trade that sent Hamels north for two minor league players.

The Cubs had until 4 p.m. ET to make the decision on the 34-year-old Hamels, who joined the team in July. The four-time All-star and 2008 World Series MVP went 9-12 with a 3.78 ERA in 32 starts last season. He was 4-3 with a 2.36 ERA in 12 games for Chicago.

If the Cubs had declined Hamels’ option, and negotiated a lower deal instead, the Rangers would have owed him a $6 million buyout as part of the trade.

Smyly has a base salary of $7 million in the upcoming season, with $6 million in performance bonuses. By moving him to the Rangers, the Cubs open up space in the checkbook:

Smyly, 29, spent the 2018 season recovering from his June 2017 Tommy John surgery. The lefty has a career ERA of 3.74 over five seasons with the Detroit Tigers and Tampa Bay Rays.

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