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The moves are official. The trade is actually Smyly and a PTBNL to the Rangers for a PTBNL. Interesting that there's a PTBNL on both sides.

Interesting.  So, basically a salary dump. 

I imagine some possible contingencies on the PTBNL? 
*If SMyly is no good, we give them somebody to offset the million? 
*If Smyly ends up being good, maybe we get a decent prospect in the 15-30 range of the Rangers system?

With his injury history, its likely a innings # to hit for a good prospect.

Given this, what was the point in picking up Smyly in the first place?

Good point.  Smyly probably requested to be traded if the Cubs were going to pick up Hamels' option, realizing that his chances of cracking the rotation were slim and presumably not wanting to be relegated to the pen.

Given this, what was the point in picking up Smyly in the first place?

How would you answer? 

In hindsight, another of the winter decisions.  Spent $200 million on four post-surgery arms.  The only arm that held up couldn't find the strike zone. 

In some markets, if you flush $180M one winter, and flush another $200 two winters later, you'd get in some trouble.  Theo is probably fortunate to work for a big-market operation that can absorb some unsuccessful decisions. 

I'm not suggesting any were dumb or illogical, they just didn't work.  Who knows, maybe this year Smyly, Chatwood, Morrow, and Darvish will all be very effective and healthy too.  Maybe Kinzler will be a solid workman, too. 

I think method and Curt are correct.  Smyly was picked up as a potential buy low asset who might fit in the 2019 rotation (or bullpen) depending on how things developed.  As it turns out, there isn't a clear place for Smyly in the rotation and he likely prefers a chance at starting rather than being relegated to the pen.  We'll need to see who the PTBNLs are before we can assess the cost of the Smyly escapade.

Sahadev Sharma
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Cubs claimed INF Jack Reinheimer off waivers from Mets,
reinstated Yu, Morrow, Hancock and Zagunis off 60-day DL and
outrighted Gore and Freeman. 40-man now at 39