Sources: Yankees acquiring reliever Mark Leiter Jr. from Cubs

PHILADELPHIA -- After weeks of scouring the trade market for bullpen help, the New York Yankees are acquiring right-handed reliever Mark Leiter Jr. from the Chicago Cubs for two minor leaguers, sources told ESPN.

The Cubs will receive Double-A shortstop Ben Cowles and Triple-A reliever Jack Neely for Leiter, 33, whose father pitched in eight games for the Yankees as a rookie in 1990 and uncle Al began his 19-year major league career pitching in parts of three seasons for the Yankees in the late 1980s.

The Yankees have been on the hunt for a swing-and-miss specialist, and the younger Leiter qualifies as one of the best. Leiter isn't the typical strikeout artist -- his sinker, his hardest pitch, averages 91.3 mph -- but he ranks in the 98th percentile with a 36.7 whiff percentage. His 34.9% strikeout rate is tied for 12th in the majors among relievers with at least 30 innings pitched.

The peripheral metrics suggest his 4.21 ERA in 39 appearances is a result of bad luck. His 2.11 FIP is sixth among relievers. His 2.61 xERA is in the 96th percentile. His .301 BABIP is high.

The Yankees are betting on that underlying evidence suggesting he'll continue to produce the better results he has posted since coming off the injured list on July 9. Leiter had a 5.34 ERA in 32 outings before he was sidelined with a strained forearm June 23. In seven games since his return, he's logged 7⅔ innings with 14 strikeouts to no walks.

He'll bolster a bullpen that jumped out to a strong start but ranks 22nd in ERA since June 1. All-Star closer Clay Holmes, in particular, has struggled of late, posting a 6.08 ERA and allowing runs in six of his past 13 outings since June 13.

For the boost down the stretch, the Yankees gave up two prospects enjoying strong seasons in the minors.

Cowles, 24, was batting .295 with nine home runs and an .848 OPS for Double-A Somerset before the team placed him on the seven-day injured list. He was a 10th-round pick out of Maryland in the 2021 draft.

The Yankees selected Neely, also 24, in the next round of that draft. The right-hander has a 2.81 ERA in 31 relief appearances between Double-A Somerset and Triple-A Scranton/Wilkes-Barre while striking out 14.8 batters per nine innings.

New York has now traded away five prospects in recent days after trading three to the Miami Marlins for infielder/outfielder Jazz Chisholm Jr. And with a few hours remaining until the 6 p.m. ET trade deadline, they might not be done yet.