8:42 PM: Cole Hamels is set to head to the Cubs. The prospect return or cash changing hands haven’t been reported yet. There is significant amount of cash coming to Cubs.
Hamels is currently 5-9 with a 4.72 ERA with 114 strikeouts in 114 innings. He also leads the league in hit batters. He’s 4-2 when away from Texas with a 2.93 ERA, while he has a 6.71 ERA at home. He also had a 3.34 ERA in the month of June, with a 3.20 in the month of May.
The Rangers are currently paying him $20 million a year with Hamels set to become a free agent at the earliest in 2019. His 2019 year was only guaranteed if he threw a combined 400 innings between 2017 and 2018, with 200 innings required in 2018. He only threw 148 innings in 2017, his lowest of his career.
His option is for $20 million and includes a $6 million buyout.
Stay tuned for more updates.