Rick Renteria out after one season.

The Cubs will hire former Tampa Bay Rays head Joe Maddon as manager, CBS Sports reported on Wednesday.

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Current Cubs manager Rick Renteria is out after one season. The Cubs finished last in the National League Central in 2014, winning only 73 games and losing 89 to finish with a winning percentage of 0.451.

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Joe Maddon managed Tampa Bay from 2006 until the end of the 2014 season, when he opted-out of his contract.

Maddon is known for his ability to produce quality teams on a low budget. He left the Rays with a .517 winning percentage, one World Series appearance, and two Manager of the Year awards. The Cubs will look to Maddon to develop prospects and produce their first winning season since 2009.

AP Photo/Scott Iskowitz