It had been expected since the team claimed Miley off waivers from the Cincinnati Reds.
Miley, who turns 35, went 12-7 with a 3.37 ERA in 28 starts for Cincinnati this season. He threw his first career no-hitter in a 3-0 win at Cleveland on May 7.
If Chicago had not picked up Miley’s option, it would have owed him a $1 million buyout.
The Cubs are looking for pitching help after going 71-91 this year for their first losing record since 2014. They finished with a 4.87 ERA, ranking 27th in the majors.
Miley is 97-92 with a 4.15 ERA in 11 years in the majors. He also has played for Arizona, Boston, Seattle, Baltimore, Milwaukee and Houston.
Source: Yahoo Sports