Chicago Cubs pickup Cole Hamels’ $20 million option for 2019, trade Drew Smyly

The offseason has just started, but teams have already begun making decisions on player options. Friday, the Chicago Cubs bolstered their 2019 rotation by picking up Cole Hamels’ option, but at $20 million the North Siders will need to do some payroll re-shuffling.

Over the last several days, teams across Major League Baseball have had to make some important decisions regarding player options. This week several key players have had their 2019 options exercised, including Chris Sale, Madison Bumgarner, and Justin Smoak. Meanwhile, others have been less fortunate, as players including Josh Harrison, Logan Morrison, and Yangervis Solarte who have all had their 2019 options declined by their respective teams, making them free agents.

While players options are being exercised and declined left and right, Cole Hamels is the latest player to have his option picked up by his club. On Friday, the Chicago Cubs announced they have chosen to pick up the 34-year old LHP’s 2019 option, which is valued at $20 million as first reported by Jerry Crasnick.

Along with bringing back Cole Hamels, the Cubs traded fellow southpaw pitcher Drew Smyly to the Texas Rangers. Interestingly enough, Hamels’ former team would have paid his $6 million buyout had the Cubbies not exercised his ’19 option. However, Chicago’s North Side wasn’t interested in parting with “Hollywood” Hamels, and instead dealt Smyly along with a PTBNL (in exchange for, you guessed it, a PTNBL) to the Rangers to clear room for Hamels.

Last December, Smyly signed a 2-year, $10 million deal with the Cubs. This was an intriguing move at the time as “Smiles” missed all of 2017 due to an elbow injury that caused him to undergo Tommy John surgery in July. Now 29 years old, Smyly hasn’t pitched in the big leagues since 2016, when he had a 4.88 ERA in 30 starts with the Tampa Bay Rays. After rehabbing for nearly a year and a half, Smyly should be ready to join his new team in the Lone Star state for Opening Day in April. Smyly is due $7 million in ’19, with an additional $6 million in bonuses.

The Cubs acquired Hamels at this year’s July trade deadline, and was one of the best pitchers in all of baseball for the final two months of the regular season. For the first half of the season with the Rangers, Hamels struggled mightily and looked washed up, but North Siders were treated to a vintage Cole Hamels for the second half as they finished the season sporting the second-best record in the National League. Hamels was the savior the Cubs’ rotation needed; while other normally reliable starts Jon Lester and Jose Quintana faltered at the end, Hamels was also solid as can be and had outings that were instrumental to the Cubs winning those games.

In 12 regular season starts with the Cubs, Hamels had a 2.36 ERA, along with a 3.42 FIP (which is good), 1.10 WHIP, and 74 strikeouts in 76.1 innings. Hamels had a 4-3 record with Chicago’s senior circuit squad, but the incredible 2.5 WAR he amassed across just two months indicates how integral he was to Chicago’s run down the stretch — I wrote about Hamels’ initial dominance with the Cubs in August, and at the time he was a perfect 4-0 with a microscopic 0.79 ERA through five starts.

Now that the Cubs have picked up Hamels’ option, Chicago’s 2019 rotation consists of him, Lester, Quintana, Kyle Hendricks and Yu Darvish, which on paper appears to be one of the strongest in the Majors and ensures the Cubs will be contending for the NL Central crown once again. However, adding Hamels places a significant burden on the Cubs’ payroll. As of now, the Cubbies have the most money tied up heading into next season, and by exercising Hamels’ option that pushes their ’19 payroll over $200 million already. With all of this cash already on the books, Chicago will have to make crafty, low-cost upgrades to the team in order to stay below MLB’s luxury tax.

With the Chicago Cubs young core growing up and earning higher salaries, president of baseball operations Theo Epstein will be limited in the moves he’ll be able to make for the rest of the offseason. Regardless of who else the Cubs acquire, their current roster is already playoff-caliber as everyone expects them to be atop the National League once again next year.