Giants trade Derek Holland to the Cubs for cash considerations

The San Francisco Giants traded LHP Derek Holland to the Chicago Cubs for cash considerations, the Cubs announced Friday afternoon.

The 32-year-old Holland posted a 5.90 ERA in 31 games for the Giants, mostly working as a middle reliever after a rough outing against the Colorado Rockies in early May effectively knocked him out of the starting rotation.

“I just want to say thanks to the Giants organization for everything they have done for me and helping me in the process,” Holland said in a text to The Chronicle’s John Shea. “It was truly a blessing to get to wear the Giants uniform. Looking forward to being with the Cubs.”

MORE GIANTS: Farhan Zaidi says fans have confronted him in the streets of SF about trading Madison Bumgarner

The lefty was designated for release or assignment earlier in the week, and team president of baseball operations Farhan Zaidi said on Sunday he expected other teams to have interest.

“He did a nice job for us after we moved him to the ‘pen. His stuff ticked up. He got some big outs for us,” Zaidi said. “That’s one reason I think there will be a lot of interest in him out there. He has an ability to get lefties out, which is pretty valuable.”

The move comes just five days before the MLB trade deadline on July 31.

Eric Ting is an SFGATE staff writer. Email: | Twitter:@_ericting

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