The Chicago Cubs will reportedly pick up starter Cole Hamels's $20 million option Friday, according to ESPN's Jerry Crasnick.
Chicago also plans to trade lefty Drew Smyly to the Texas Rangers, reports Crasnick.
The Cubs had until Friday's 4 p.m. ET deadline to decide on Hamels's 2019 option. If Chicago declined, the Rangers, Hamels's former team, would have paid a $6 million buyout, allowing him to become a free agent.
Hamels, 32, recorded a 2.36 ERA in 12 starts after being traded to the Cubs on July 27.
By trading Smyly, the Cubs will cut $7 million from their payroll.