Chicago Cubs left-handed relief pitcher Drew Smyly could be on the move soon. The team has placed him on waivers, according to Bob Nightengale of USA Today.
The decision allows a rival team to claim him, provided it is willing to take on the remainder of his contract. Smyly is in the second year of a two-year, $20.5 million deal with a mutual option for a third year at $10 million. The team that claims him would owe him the roughly $1.9 million he has left for his 2024 salary, and if it does not exercise its option, he would owe a $2.5 million severance package.
So any team willing to pay at least $4.4 million can claim him off the waivers list. The Cubs didn’t designate him for transfer, so this isn’t the typical situation where a team would have to give up the player they waived. Smyly can continue to pitch for the Cubs during the process, and the team can’t get him back. If someone claims Smyly, he’s gone.
Smyly could be a valuable addition to any team looking to make the playoffs. With the trade deadline having passed, there aren’t many opportunities to add experience to your roster. Smyly has been around since 2012 and won the 2021 World Series with the Atlanta Braves.
After spending most of his career in the starting lineup, including 23 times last year, Smyly is making a comeback in 2024. In 39 appearances – all from the bullpen – he has a 2.84 ERA and a 1.184 WHIP. Although lefties actually have a higher batting average than righties (.226 vs. .219), they haven’t been as productive with those hits. Lefties have just a .603 OPS against him with two home runs, compared to six home runs for righties.
The timing of the Cubs’ decision is important. It comes on August 26, six days before the roster expansion. For Smyly to be eligible to pitch for a contender in the postseason, he must be on the Cubs’ 40-man roster before the start of next month.
The loss of Drew Smyly could mean the end of the Cubs’ playoff hunt
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If you look closely, the Cubs aren’t really out of the playoff race. They’re .500, but they’re only 5.5 games out of the National League wild card odds with five weeks to go. On the other hand, they also have three teams ahead of them in the wild card bracket, so they’ll have to hope those teams go through rough patches.
FanGraphs gives them a 2.5% chance of making the postseason, and by putting Smyly on the waivers list, the Cubs seem to have decided that’s not good enough. Giving another team a chance to sign him would save at least $4.4 million as the team enters its fourth consecutive offseason without October baseball.
From here, the question becomes who else could join Smyly on the waivers list. If Chicago has decided to sit out the rest of the year, the team might as well see if it can free up even more money by trading away guys it doesn’t see as part of its future. Mike Tauchman is a candidate. He has two years of arbitration remaining and has performed well as a fourth outfielder. He could be an attractive choice for a team looking to sign another left-hander.
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