Smyly exercised his $8.5 million player option for the 2024 season Monday, Jesse Rogers of ESPN.com reports.

EDGE Analysis

Smyly will remain in Chicago for the 2024 campaign, as he was unlikely to surpass his guaranteed money elsewhere over the next year. He'll look to bounce back after a rocky 2023 season, accruing a 5.00 ERA and 1.43 WHIP with a 141:56 K:BB across 142.1 innings.