The Yankees are trading for Mark Leiter Jr.

I like his innings pitched and strikeout ratio also he has a good hits to innings pitched ratio. I had high expectations for Neely, but I will say that Leiter is an upgrade. I wonder if he can be a Closer. 

The Yankees are including Ben Cowles in the trade too.

Posted this in the trade deadline thread, so I might as well re-post it here...
Yanks traded for an OK reliever in the Cubs' Mark Leiter. He's not a closer or the Cubs, who have gone through multiple options at that spot recently, would've given him a longer look. He has pitched much better than his ERA, which is one of the things analysts look for, and while his strand rate is very low this year, a red flag for pitching in high leverage, his rate of inherited runners scoring is also very low, just 3 of 21, 14%, well below the MLB average of 33% this season. The ERA simulators think his ERA should be 1-2 runs lower than the current 4.21.

He was hit hard in June, basically ruining his season's numbers, giving up 8 earned runs over 4 consecutive appearances and 3 1/3 innings the last two weeks that month. but he's been almost literally perfect in 7 games since then: 7 games, 7 2/3 innings, 0 hits, 0 runs, 0 BB and 14 K's. I hope he can stay hot with the Yanks. The trade should help the pen, but I don't think he's the closer they're looking for. Stranger things have happened.

Infielder Ben Cowles and right-handed pitcher Jack Neely were the prospects sent to the Cubs. Cowles is a 24 year old middle infielder having a very good year in AA, plays 2nd and SS, batting .294 with medium power and a good walk rate, but also a pretty high K rate. He wasn't in the Yanks top 37 prospects on The Board at Fangraphs. Neely is a 24 year old right handed reliever who pitched well at AA and AAA this year, the Cubs might call him up to replace Leiter later this season. He was not in the top 37 either, but was mentioned in last year's prospects with as "depth reliever" and Longerhagen said at the time: "Neely has a plus slider and sits 93-94; that’s a little less velo than is ideal given his lack of command.". HIs K rates in the minors have always been huge, but his BB rates have been somewhat high as well. Apparently, the slider is a wipeout slider, but I haven't seen him pitch, maybe someone who has can add some detail. Maybe he's added some velocity, but I don't know that, either.

One more thing at the very bottom the MLB Trade Rumors article on the Leiter deal, as you might expect of two 24-year-old prospects:

"Both Neely and Cowles are Rule 5 eligible this winter, so the Yankees would have been facing a decision about whether or not to add them to their 40-man roster. Instead, they have cashed them in for an immediate bullpen upgrade, meaning those decisions will now transfer to Chicago."

Low hit rate, high K rate, has allowed just 2 HR in 36.1 IP. He should help. Doesn't have eye-popping career numbers, but he should be effective.

His dad Mark Sr was briefly a Yankee in 1990, his Uncle Al was a Yankee for parts of 1987-1989 seasons.