On Wednesday, it was reported that Philadelphia Phillies LHP Cole Hamels had been claimed off of revocable trade waivers, but the team who claimed him was unknown. Early on Thursday morning, it was released that the Chicago Cubs were the team to claim Hamels.

Now that the Cubs have claimed Hamels, the Phillies have three options. First, they could just let him go to Chicago without any compensation coming their way from the Cubs. That simply is not going to happen, as Hamels is a talented pitcher with a large track record of success.

The next option for the Phillies is to work out a trade with the Cubs in exchange for Hamels. If the two sides are unable to come to a deal, Hamels simply remains in Philadelphia, and cannot be traded for the rest of the season.

Before the non-waiver trade deadline last week, the Phillies made Hamels available to teams. Many contending clubs showed interest, but General Manager Ruben Amaro simply would not lower his asking price on the talented lefty.

While the Phillies are far from contending, 2014 has arguably been Hamels’ best season to date. With a 2.42 ERA (2.86 FIP), Hamels is proving that he still has plenty of talent remaining in his left arm.

Hamels is under contract until 2018, collecting $22.5 million per season. He also has a $20 million club option for 2019. That is not a cheap contract for a pitcher who will turn 31 this off-season, but the Cubs certainly have the payroll flexibility to make it work.

As great as Hamels would look as the ace of the Cubs’ pitching staff in the near future, a deal between the two sides appears to be unlikely. The Phillies were asking for a huge haul in exchange for Hamels before the trade deadline, and nothing suggests that they are willing to lower their asking price now. Sure, trading Hamels would give the Phillies payroll flexibility, but they have been adamant that they will not trade him without getting a huge return.

In a deal with the Cubs, that would likely mean including at least one of their highly ranked offensive prospects. Jorge Soler and Javier Baez are on the Cubs’ 40-man roster, so they would have to clear waivers in order to make a deal with the Phillies for Hamels. There is no chance of that happening, leaving 3rd baseman Kris Bryant and shortstop Addison Russell as the obvious targets for the Phillies in this deal. That simply is not going to happen either.

While the near future is starting to look very bright, the Cubs are still a rebuilding organization. They simply are not even going to consider dealing important prospects like Russell and Bryant at this point in time. I am sure that the Cubs will put together a solid offer for Hamels, but they simply will not be willing to overpay like the Phillies are going to expect.

Acquiring Hamels is extremely unlikely to happen, but the fact that the Cubs were willing to eat his remaining contract if necessary, helps prove that they will likely be major players in costless agency this off-season.

With an offensive full of young and talented hitters, the Cubs could turn this thing around quickly if they are able to land the right pitchers in costless agency. Jon Lester or Max Scherzer anyone?