Cubs exercise $20 million option on Cole Hamels, trade Drew Smyly to Rangers

The Cubs exercised their $20 million option on left-hander Cole Hamels by creating some financial space Friday.

They dealt left-hander Drew Smyly and a player to be named to the Rangers for a player to be named. The Cubs cleared $7 million by trading Smyly, who hasn’t pitched in a major-league…

Source: Chicago tribune