The Cubs declined Smyly's $10 million mutual option for 2025 on Saturday, Jon Heyman of the New York Post reports.
Smyly moved to the bullpen full-time in 2024 and logged a 3.84 ERA and 1.40 WHIP over 58.2 innings. While those are both improvements from his 2023 statline (5.00 ERA, 1.43 WHIP), the Cubs will elect to pay the southpaw's $2.5 million buyout rather than keep him on the squad for his age-36 season.