The Chicago Cubs are bolstering their bullpen, having agreed to acquire veteran closing pitcher Ryan Pressly from the Houston Astros.

It's a trade that's been in the works for a while, though it couldn't be completed until Pressly agreed to waive his no-trade clause. Multiple reports indicate that he's given the green light to be dealt to Chicago, and the trade will be finalized pending a physical.

ESPN's Jeff Passan reports that Houston will send money to Chicago in order to cover some of Pressly's $14 million contract. The 36-year-old is entering the final year of his contract and will be an unrestricted free agent after the 2025 season.

The return for Pressly's services has not yet been reported, though Chandler Rome of indicates that there will be at least one prospect headed to the Astros.

Last year, Pressly had a 3.49 ERA with 58 strikeouts across 56 2/3 innings. He registered four saves on the year, having returned to setup duties with Josh Hader serving as Houston's primary closer. Pressly, who had 90 saves from 2021 to '23, will likely be in the mix to close out games for Chicago.

This marks the second trade between the Cubs and Astros this offseason, as Chicago previously acquired three-time All-Star outfielder Kyle Tucker in a separate deal.