Cubs acquire Holland from Giants for lefty bullpen option

(Photo by Thearon W. Henderson/Getty Images)

Derek Holland was acquired by the Cubs from the San Francisco Giants for a player to be named, giving the Cubs a new left-handed option out of the bullpen.

As part of the trade announced Friday, San Francisco agreed to send Chicago $1,846,505 to cover all but $425,000 of the $2,271,505 remaining in Holland's $6.5 million salary this year. San Francisco also agreed to a conditional $500,000 payment if the Cubs decline Holland's $6.5 million option for 2020 and pay him a $500,000 buyout.

The 32-year-old is 2-4 with a 5.90 ERA in seven starts and 24 relief appearances this year. He started the season in the rotation and was 1-4 with a 23.63 ERA when he was moved to the bullpen in mid-May. He has a 5.03 ERA as a reliever this season but has held left-handers to a .182 batting average with one extra-base hit in 89 plate appearances this year.

He had a 0.68 ERA over 10 appearances from late June until he allowed four runs against the New York Mets on July 20. He was designated for assignment the next day.

Holland is 78-77 with a 4.51 ERA in 221 starts and 54 relief appearances for Texas (2009-16), the Chicago White Sox (2017) and San Francisco (2018-19).

Chicago designated lefty Tim Collins for assignment to open a roster spot. Collins had a 3.12 ERA in nine relief appearances for the Cubs this year.