CHICAGO -- The Cubs are finalizing a trade to acquire closer Ryan Pressly from the Houston Astros, pending medical review, sources told ESPN's Jeff Passan on Sunday.

Pressly will waive his no-trade clause to facilitate the move, and Houston will send money to help cover his $14 million salary, the sources said.

The Astros will receive a low-level prospect from the Cubs who is not on Chicago's 40-man roster, a source told ESPN.

Pressly, 36, is likely to become the Cubs' closer, a role he held with Houston from 2021 to 2023 before it signed Josh Hader to a long-term contract. The veteran righty has 112 saves with a 3.27 ERA compiled over his 12-year career, which includes six seasons in Minnesota.

Pressly will join a bullpen that blew 26 saves last season, as the Cubs are looking to make a playoff push in 2025. Chicago hasn't been to the postseason since 2020, working without an established closer over the past few years.

Righty Adbert Alzolay was ineffective last season and then got injured, eventually needing Tommy John surgery. Porter Hodge, 23, finished the season in the closer's role, but the team wanted more experience and depth in the back end of the bullpen.

The Cubs pursued lefty Tanner Scott before he signed with the Los Angeles Dodgers last weekend, according to league sources, but Chicago was less interested in the other free agent closers, instead settling for Pressly, who has one year left on a three-year, $42 million contract signed before the 2023 season.

Pressly will join newcomers Eli Morgan, Cody Poteet, Matt Festa, Caleb Thielbar and Rob Zastryzny in the Cubs' bullpen.

The trade likely will conclude the bulk of the team's winter moves.