The Cubs traded away one of their most trusted and valuable relievers over the last two years.

The team sent right-handed pitcher Mark Leiter Jr. to the Yankees for infielder Ben Cowles and right-handed reliever Jack Neely, the team announced Tuesday afternoon.

In 39 games this season, Leiter has a 4.21 ERA with 13 holds, although the numbers are a bit deceiving. He allowed just 2 earned runs across his first 20 appearances (0.90 ERA) before surrendering 15 over his next 12 outings and then landing on the IL in mid-June.

Since being activated off the IL, Leiter has 7 scoreless appearances in 7.2 innings. He is under team control through the 2026 season.

[WATCH: Jed Hoyer’s press conference following the trade deadline]

Cowles, 24, is a right-handed-hitting infielder who was selected in the 10th round of the 2021 MLB Draft by the Yankees.

He has spent this season in Double-A where he boasts a .295/.376/.472 slash line (.848 OPS) with 9 homers, 25 doubles, 14 stolen bases and 51 RBI in 88 games. Cowles has played all over the infield throughout his minor-league career, including 64 games at shortstop, 20 games at third base and 10 games at second base this season.

Neely is a 24-year-old righty who was selected right after Cowles (in the 11th round in 2021).

Neely was ranked 22nd and Cowles sat at No. 29 on the Yankees’ Top 30 prospect list on MLB Pipeline.

In 31 games between Double-A and Triple-A this season in the Yankees system, Neely has a 2.81 ERA and 1.18 WHIP with 63 strikeouts in 41.2 innings. Throughout his minor-league career, he has averaged 14.3 strikeouts per 9 innings.

Leiter, 33, was one of the team’s most successful stories since he arrived in Chicago in 2022. Originally signed as starting depth ahead of the 2022 season, Leiter joined the Cubs rotation in April of that year and was funneled back and forth between the majors and Triple-A.

[Complete Cubs trade deadline coverage on the Marquee Sports Network app]

After the trade deadline that year that saw them ship away relievers Scott Effross, David Robertson, Mychal Givens and Chris Martin, Leiter became a fixture in the relief corps — and thrived.

In 25 games from July 2 to the end of the year, Leiter had a 3.12 ERA in 43.1 innings, picking up 3 saves and 4 holds. But in the offseason, with the Cubs facing a 40-man crunch, the team designated him for assignment and the other 29 teams had a chance at picking up the righty.

He went unclaimed and returned to Chicago on a minor-league deal. He went on to make the team out of Spring Training and become one of the most cherished members of David Ross’ bullpen in 2023.

The righty — whose splitter helped him have strong reverse splits — was a specialist against lefty hitters and allowed the Cubs to spend most of the 2023 season without carrying a lefty reliever. In 69 games, Leiter had a 3.50 ERA with 28 holds and 4 saves, forming a three-headed monster at the back end of the bullpen with Adbert Alzolay and Julian Merryweather for a large chunk of the season.

Complete Cubs trade deadline content:

–Why the Cubs decided to move on from Christopher Morel
–Behind the Cubs’ trade deadline strategy – and why Jameson Taillon wasn’t moved
–Cubs players react to trade deadline moves
–Why the Cubs decided to trade Mark Leiter Jr. at the deadline
–A comprehensive look at the Cubs’ 2024 MLB trade deadline moves
–Mark Leiter Jr. shares heartfelt appreciation for Chicago in farewell post
–Cubs trade away Mark Leiter Jr. in deal with Yankees
–In a stunning move, Cubs deal away Christopher Morel in big trade with Rays
–Cubs Weekly Podcast: Breaking down the Cubs’ fascinating – and surprising – deadline moves
–Who is Isaac Paredes? The book on the new Cubs third baseman
–WATCH: Christopher Morel shares emotional farewell with teammates and coaches in Cubs dugout
–Cubs acquire hard-throwing pitcher Nate Pearson