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12/07/2006 11:07 AM ET
Reds acquire outfielder Josh Hamilton
Send cash to Cubs for former overall No. 1 pick
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LAKE BUENA VISTA -- The Cincinnati Reds today acquired from the Chicago Cubs OF Josh Hamilton in exchange for an undisclosed amount of cash. Reds general manager Wayne Krivsky announced the trade following Major League Baseball's Rule 5 Draft.

Earlier this morning, Hamilton was selected by the Cubs from the Tampa Bay Devil Rays with the third overall pick in the first round of the Major League phase of the Rule 5 Draft.

Hamilton, 25, last season appeared in 15 games for Class A Hudson Valley. On August 11 he had season-ending arthroscopic surgery to clean out his left knee.

Tampa Bay selected the lefthanded-hitting Hamilton with the first overall pick in the 1999 first-year player draft. In 2000 for Class A Charleston he hit .302 with 13 homers, 23 doubles and 61 RBI in 96 games and was named co-Most Valuable Player of the South Atlantic League and low Class A Player of the Year by Baseball America.

Hamilton must remain on the Reds' 25-man roster all season or be offered back to the Devil Rays for $25,000. He is the 43rd player acquired by Krivsky since he was named general manager on February 8.

Also in today's Rule 5 Draft, the Reds selected from Oakland's Class AAA Sacramento roster RHP Jared Burton with the eighth pick in the first round of the Major League phase, selected from Toronto's Class A Dunedin roster LHP Francisco Mateo in the first round of the Class AAA phase and selected from Tampa Bay's Class A Visalia roster RHP Nick Moran in the first round of the Class AA phase.

Burton, 25, last season for Class AA Midland went 6-5 with a 4.14 ERA in 53 relief appearances. He must remain on the club's 25-man roster all season or be offered back to the Athletics.

Mateo, 22, went 5-2 with a 4.18 ERA in 14 starts with Rookie Pulaski. Moran, 26, went 2-1 with a 5.51 ERA in 21 relief appearances with Visalia.

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