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.
Smyly (3-8) allowed an unearned run on a hit and a walk while retiring just one batter to take the loss in Saturday's 6-5, extra-inning defeat to the Rockies.
After Porter Hodge blew the save in the bottom of the ninth inning to force the game into the 10th, Smyly allowed the automatic baserunner to come around and score to take the loss. The lefty's record doesn't reflect it, but he's pitched well this year out of the bullpen with a 3.54 ERA and 53 strikeouts across 56 innings. Smyly was placed on waivers back in late August, though he's stuck around in Chicago and will likely continue to see high-leverage work for the Cubs in the final few weeks of the regular season.
The Cubs placed Smyly on outright waivers Monday, Bob Nightengale of USA Today reports.
Smyly will now be available to be claimed off waivers by the 29 other teams in the league after producing a 2.84 ERA and 1.18 WHIP with 43 strikeouts over 50.2 innings in 39 appearances out of the bullpen with Chicago. The left-hander will likely have no shortage of teams interested in him and a postseason contender could use his services to bolster their bullpen down the stretch.
Smyly (3-6) allowed a solo home run across 1.1 innings of relief to take the loss Tuesday against the Guardians. He struck out one.
A blast by Jhonkensy Noel in the fifth inning was the only damage against Smyly, but it saddled him with the loss in Cleveland's 2-1 victory. Despite the 3-6 record, Smyly has been solid this season with a 2.83 ERA and 1.15 WHIP across 47.2 innings. All of that work has come out of the bullpen, which is a contrast from last year, when the veteran lefty made 23 starts for the Cubs.
