Leiter trade wraps Cubs' Deadline deals focused on '25 and beyond

CINCINNATI -- As the Cubs’ postseason hopes have dwindled this season, president of baseball operations Jed Hoyer made it a goal to begin planning for next year in his approach to this Trade Deadline. That meant tackling some immediate needs while also targeting some players to help in the future.

The North Siders made moves on both fronts in the days and hours leading up to Tuesday’s 5 p.m. CT Deadline. The finishing touch for Hoyer’s group was shipping late-inning reliever Mark Leiter Jr. to the Yankees on Tuesday in exchange for pitching prospect Jack Neely and infield prospect Benjamin Cowles.

TRADE DETAILS
Cubs receive: RHP Jack Neely (Yankees' No. 22 prospect), INF Benjamin Cowles (Yankees' No. 29 prospect)
Yankees receive: RHP Mark Leiter Jr.

“We wanted to make deals we felt like made sense for 2025 and beyond. The goal wasn’t just to accumulate assets,” Hoyer said via Zoom before the Cubs’ 6-3 loss to the Reds at Great American Ball Park. “We did the deals that crossed our line and made sense for us, and we didn’t do a lot of deals that didn’t.”

The deal with the Yankees came in the wake of a couple of moves that were more focused on Chicago’s Major League roster. The Cubs acquired All-Star Isaac Paredes for Christopher Morel and two prospects on Sunday and also landed reliever Nate Pearson from the Blue Jays for two prospects on Saturday.

Paredes officially joined the Cubs on Tuesday, donned a No. 17 jersey (a digit last worn by Kris Bryant in Chicago) and was inserted into the fifth spot of the lineup. While Morel was a fan favorite with great offensive upside, Hoyer explained that Paredes’ track record of solid defensive play at third, paired with power and consistency at the plate, made him an attractive fit for the roster.

Hoyer estimated that it took roughly a month for the trade to get done.

“It’s challenging, but that was not a deal that started overnight,” Hoyer said. “Given the number of teams that reached out to me after we acquired Paredes, I know a lot of teams were involved in that bidding.”

Paredes -- originally signed by the Cubs in 2015 -- was ready for the new challenge.

“I talked to the manager, he definitely gave me a lot more confidence,” Paredes said via translator. “I’m just here to contribute to the team in whatever capacity. There’s a lot of good players here -- players with experience. All kinds of good players overall.”

Leiter grew into a trusted bullpen piece for the Cubs over the past few seasons, but he was also a prime trade chip for contending clubs. It was a way for Chicago to inject some more talent into its highly touted farm system, and both Neely and Cowles are climbing closer to the big leagues.

“That type of reliever is often very popular at this time of year,” Cubs manager Craig Counsell said. “It's understandable that there's interest in Mark and they found a trade that is obviously a trade for the future.”

Neely, who was ranked No. 22 on MLB Pipeline’s Top 30 Prospects list for the Yankees and is now ranked No. 20 in the Cubs' Top 30, is a 24-year-old righty who was drafted out of Ohio State in the 11th round of the 2021 Draft. In 31 games this season between Double-A Somerset and Triple-A Scranton/Wilkes-Barre, Neely has logged a 2.81 ERA with 63 strikeouts and 16 walks in 41 2/3 innings. Armed with a fastball and a slider, Neely has averaged 14.3 strikeouts per nine innings in his four Minor League seasons.

“Whenever you get rid of a reliever like Mark, you try to get another reliever in the deal,” Hoyer said. “And Jack Neely is sort of a huge right-hander for them. He’s been performing well in Triple-A and is close to the big leagues. It was difficult to trade Mark.”

Cowles (No. 29 on Pipeline’s Yankees list, No. 30 on the Cubs' list) was a 10th-round pick in the 2021 Draft out of Maryland, where he was teammates with Cubs No. 2 prospect Matt Shaw. Cowles, 24, has moved between shortstop (523 1/3 innings), third base (154) and second (76) this season for Somerset.

In 88 games in Double-A this season, Cowles has slashed .294/.376/.472 with nine home runs, 25 doubles, 51 RBIs and 14 stolen bases. The right-handed batter has also cut his strikeout rate down to 17.7%, following marks of 28% in 2023, 29% in ‘22 and 35.2% in ‘21. Hoyer noted that Cowles is likely out for the rest of the season with a right wrist injury.

“We really like the profile,” Hoyer said. “He’s had really good offensive success in the Minor Leagues. He’s done everything well. Run the bases well. Played good defense in the infield. He’s just had a really good year in Double-A.”

Hoyer said this Deadline was much different than in 2021, when the goal was to net a pile of prospects (many in the lower levels) with the aim of building a deep farm system. The Cubs want to return to contention in ‘25, and Paredes, Pearson and potentially both prospects fit within that plan.

“Ultimately,” Hoyer said, “the three deals we got, those were the three deals that kind of crossed the line and made sense. Did we talk about other deals? Of course. But these were the three that were consummated.”