Struggling veteran left-hander heads to Chicago in first big deadline deal as New York signals seller intentions amid ongoing slump. In a move that signals the start of a potential fire sale, the New York Mets have traded left-handed pitcher David Peterson to the Chicago Cubs in exchange for corner infield prospect Cole Mathis, according to multiple reports including ESPN’s Jeff Passan and MLB.com.
Trade news: The Chicago Cubs are acquiring left-hander David Peterson from the New York Mets, sources tell ESPN.
— Jeff Passan (@JeffPassan) June 25, 2026
The deal, which comes fresh off the Mets’ sixth straight loss (including three to the Cubs), marks the longest-tenured Met’s departure from Queens. Peterson, a first-round pick by the Mets in 2017 out of the University of Oregon, has spent his entire seven-year MLB career with New York.
Peterson’s Struggles in 2026
This season has been a tough one for the 30-year-old southpaw. In 16 games (eight starts), Peterson posted a 3-6 record with a bloated 6.09 ERA over 68 innings. He allowed 82 hits, walked 30, and struck out 63, resulting in a 1.65 WHIP. After earlier success—including an All-Star nod in 2025—Peterson had been shifted to the bullpen amid inconsistency and was viewed as a trade candidate given his expiring team control (set to hit free agency after 2026).
For the Cubs, who have battled rotation injuries, Peterson provides immediate depth as a lefty arm capable of starting or relieving. Though his 2026 numbers are underwhelming, his track record as a durable innings-eater (career 4.31 ERA) offers a low-cost boost for a contending push.Peterson had a rough season with the Mets, posting a 6.09 ERA in 16 games (8 starts) over 68 innings, with a high 1.65 WHIP, 63 strikeouts, and 30 walks.
— David Desa (@daviddesa2nh) June 25, 2026
Trading Peterson allowed them to get something of value rather than risk losing him for nothing in free agency. #MLB pic.twitter.com/7Ca7EQH5iL
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| Picture Credit: Google Images |
The Return: Cole Mathis
In return, the Mets receive Cole Mathis, the Cubs’ No. 12-14 prospect (per various rankings). The 22-year-old right-handed hitting corner infielder/first baseman was drafted in the second round (54th overall) in 2024 out of the College of Charleston. A former two-way player limited by elbow issues (including Tommy John surgery), Mathis has shown promising power in the minors, highlighted by hot starts with multi-homer games and strong exit velocities.
Mathis, currently on the injured list at High-A, brings raw power and upside as a bat-first prospect who could develop into a middle-of-the-order contributor. For a Mets team in transition, adding a high-ceiling young position player aligns with rebuilding around core pieces while shedding salary and veterans.
Broader Context
This trade comes as the Mets hover below .500 and appear to be pivoting toward selling ahead of the MLB trade deadline. Peterson’s departure could open opportunities for younger arms and signals that president of baseball operations David Stearns is actively reshaping the roster. For the Cubs, it’s a calculated add to stabilize a pitching staff plagued by injuries.
The deal is pending physicals and official confirmation, but it represents one of the first notable swaps of the 2026 deadline season. Fans in Queens may feel the sting of losing a homegrown player, while Cubs supporters hope Peterson can recapture his form in a new environment.
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