The Cubs and starter Drew Smyly are closing in on a deal for the 2023 season, reports Jesse Rogers of ESPN. Reports emerged in early October that the two parties were involved in extension talks, but nothing came of those discussions before Smyly opted out of his side of a mutual option in November.
Smyly initially joined the Cubs after the 2021 season on a one-year, $4.25MM contract with a $1MM buyout on a $10MM mutual contract for the 2023 season, which Smyly declined, and $2.5MM in potential incentives. He would go on to make 22 starts, pitching to a 3.47 ERA in 106 1/3 innings with a slightly below-average 2o.4% strikeout rate but paired with a low 5.8% walk rate. Interestingly, despite ranking poorly in fastball velocity (20th percentile), fastball spin (24th percentile), and curve spin (8th percentile), Smyly posted a chase rate in the 77th percentile and limited hard hits (69th percentile).
Since undergoing Tommy John surgery in 2017, Smyly has become a mercenary swingman, spending the 2019 season with the Rangers, joining the Brewers on a minor league deal in 2019 before finishing the season with the Phillies, spending the shortened 2020 year with the Giants, winning a World Series ring with the Braves during the 2021 season, and then joining the Cubs last winter. Over these four years, Smyly has made 71 starts (83 appearances) and pitched to a 4.65 ERA in 373 1/3 regular-season innings with a 22.9% strikeout rate and 8.1% walk rate.
The nine-year veteran will rejoin a rotation that includes Marcus Stroman, recent signee Jameson Taillon, and Justin Steele. Kyle Hendricks will likely have a spot on manager David Ross’s staff, but the 30-year-old had yet to begin a throwing program as of late October after suffering a mid-season capsular tear.
The financial terms of the agreement are not yet clear. The Cubs presently have around $181MM in estimated commitments for 2023, not including Smyly, per Roster Resource. Their projected luxury tax ledger is around $203MM, leaving the possibility of adding with the base tax threshold set at $233MM.