The Chicago Cubs are picking up the option on left-hander Cole Hamels' contract for the 2019 season, sources told ESPN's Jerry Crasnick.
Sources also said the Cubs will trade left-hander Drew Smyly to the Texas Rangers.
Hamels will make $20 million next season on the team option. The Cubs had until 4 p.m. ET Friday to make a decision on retaining him.
The 34-year-old Hamels went 9-12 with a 3.78 ERA in 32 starts in 2018. Earlier this week, Hamels' agent, John Boggs, told 670 The Score that Hamels would be open to exploring a longer-term deal.