Cubs make out well in trading Matt Garza to Rangers

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The new rules that took effect last year made trading quality free-agents-to-be to be trickier than ever. That’s because the deal itself makes a supplemental first-round pick just disappear into the ether. The acquiring team is forced to offer extra compensation for something it’s not going to get back in return, while the seller knows it will get something in return if things fall through.

The Cubs, though, had too much to gain to let Matt Garza walk away for only a draft pick this winter. Since there’s been little hint of Cliff Lee or Chris Sale being available, Garza was clearly the top pitcher up for grabs in trade talks at the moment. The Rangers had to stay ahead of the A’s, Dodgers and others in trade talks.

In the end, the Rangers pulled off the deal without having to part with Jurickson Profar. Surrendered instead were three prospects ranked second (Mike Olt), fifth (Justin Grimm) and 14th (C.J. Edwards) in their system by Baseball America at the beginning of the season, plus two players to be named.

Olt, 24, was always the obvious piece to be included in a Rangers-Cubs trade. Texas, of course, has Adrian Beltre at third base, while the Cubs never have anyone there. Luis Valbuena is their current stopgap. Olt could have been a long-term answer at first or in an outfield spot for Texas, but he projects best at the hot corner. A disappointment earlier this year after battling vision problems, he was hitting .213/.317/.422 with 11 homers in 230 at-bats for Triple-A Round Rock. Throw out his April and that improves to .253/.352/.524 in 170 at-bats. Last year, he came in at .288/.398/.579 with 28 homers in Double-A. If he remains hot in Triple-A, the Cubs will likely give him a shot to replace Valbuena next month.

Grimm, a 24-year-old right-hander, had spent most of the season in the Texas rotation, going 7-7 with a 6.37 ERA. That he’s allowed 15 homers in 89 innings has taken quite a toll, but his 68/31 K/BB ratio is pretty good and the jump to the NL should help. He has the solid three-pitch arsenal to be a No. 3 starter going forward. He should step right into the Cubs’ rotation in Garza’s place.

Edwards, a 48th-round find for the Rangers in 2011, had seen his stock jump this year after an 8-2 start with low Single-A Hickory. The 21-year-old has a 1.83 ERA and a 122/34 K/BB ratio in 93 1/3 innings. In a Cubs system much stronger offensively than from the mound, he may well rate as the team’s top pitching prospect.

Even without factoring in the PTBNs, that’s an ample return for a guy who was going to make about 12 more starts as a Cub. They don’t get a sure star in the bunch, but Olt and Grimm are both nice assets and Edwards brings a lot of upside to the table. The Rangers can get away with it since they have a star locked up at Olt’s position, but it still hurts a bit to bleed that much talent for a guy who could depart this winter.

Report: Gerrit Cole has seven-year, $245 million offer from Yankees

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Bob Klapisch of The New York Times reports that free agent starter Gerrit Cole has a seven-year, $245 million contract offer on the table from the Yankees. As Klapisch also notes, the deal would set a record for total value and average annual value for a pitcher, besting Zack Greinke‘s $34.4 million AAV and David Price‘s $217 million total.

While it is possible that Cole signs before the end of the Winter Meetings on Thursday, clients of Scott Boras have tended to sign later in the offseason, so this may be a protracted process with today’s report as a jumping-off point. Both the Yankees’ and Angels’ front offices have received clearance from ownership to break the bank to sign Cole.

Cole, 29, could not have timed having a career year any better. During the regular season, he led all of baseball with 326 strikeouts and led the American League with a 2.50 ERA while also posting a 20-5 record and walking only 48 batters across 212 1/3 innings. He performed brilliantly in the playoffs as well, holding the opposition to seven runs on 21 hits and 11 walks with 47 strikeouts over 36 2/3 innings of work as the Astros narrowly missed out on winning another championship.

Cole is entering his age-29 season, so a deal of at least seven years would take him well into his mid-30’s. Teams, especially lately, have been hesitant to commit to pitchers, but as the Nationals showed with Max Scherzer and Patrick Corbin, sometimes it leads to a championship.

For what it’s worth, Bob Nightengale of USA TODAY Sports says the Yankees haven’t made a formal offer to Cole yet, though the club plans to make one this week. During this time of year, both sides — front office personnel and player agents — leak details to the press to help establish leverage. What we can generally take from this is that the Yankees are hot for Cole and he’s going to get a record-setting contract from some team, even if it’s not the Yankees.