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The Chicago Cubs traded Carlos Marmol to the Los Angeles Dodgers for Matt Guerrier, the team announced.
The Dodgers also acquired international signing bonus slot number four from the Cubs.
Guerrier, who is expected to join the Cubs later this week, has gone 25-33 with 112 holds, six saves and 3.54 ERA in 513 major league appearances.
Marmol was designated for assignment on June 25, giving the Cubs a 10-day period to trade him or give him his unconditional release. He had a limited no-trade clause with six teams he could block, including the Dodgers.
Marmol is owed more than $5 million on his $9.8 million for this season, and another source said the Dodgers will absorb some of the money owed. He's ending a three-year, $21 million contract with the Cubs, who are the only team he's played for in the majors.
Marmol can become a free agent after this season.
The 30-year-old Marmol went 2-4 with a 5.86 ERA in 31 relief appearances this season. He has struggled for parts of the past three seasons. He struck out 32 and walked 21 in 27 2/3 innings this season. He had 10 blown saves with a 4.01 ERA in 2011 and has lost his closer role several times.
Marmol has 117 saves over eight seasons with the Cubs. His best season as a closer came in 2010 when he had 38 saves, a 2.55 ERA and 138 strikeouts in 77 2/3 innings.