UPDATE: The Reds also sent $1 million to the Royals in the deal, according to Jon Heyman of CBS Sports.

The Kansas City Royals made a much-needed acquisition on Sunday and bolstered their starting rotation. They now have a staff ace that drastically improves their chances at making a World Series run.

Kansas City got Johnny Cueto and cash considerations in today's deal while the Cincinnati Reds received left-handed pitching prospects Brandon Finnegan, John Lamb and Cody Reed, according to FOX Sports' Ken Rosenthal and Jeffrey Flanagan of MLB.com.

The Royals became in dire need of a top starter last week after Yordano Ventura was demoted to Triple-A and Jason Vargas suffered a torn UCL. Ventura was recalled after Vargas' injury, but his performance this season has not met expectations.

Cueto will drastically improve the struggling Royals' rotation, which ranks 22nd in the MLB with a 4.30 starters' ERA. The 29-year-old is 7-6 with a 2.62 ERA and 0.93 WHIP in 19 starts this season and he'll switch over to the American League and face designated hitters for the remainder of the year.

"They do have a great team," Cueto said, via Flanagan. "I'm excited about my next chapter. I know they play very good baseball. I'm excited because I know it's going to be good for my career and good for the team."

The right-hander was the subject of trade rumors for much of the past year and was also linked to the Los Angeles Dodgers, Houston Astros, Toronto Blue Jays, New York Yankees and others.

In Cincinnati, the Reds will get three promising youngsters in return for their ace.

Finnegan was a member of the 2014 Royals that made the World Series. The 2014 first-round pick has 28 career MLB games (including the postseason) under his belt and is 3-0 with a 2.96 ERA and 1.19 WHIP in 24 1/3 innings.

However, he's spent much of the year in the minors as he's getting more experience as a starter. He's had a bit of trouble at Triple-A Omaha, going 0-2 with a 7.07 ERA in six games (four starts) after maintaining a 2.77 ERA in five games (three starts) with Double-A Northwest Arkansas.

Lamb, 25, is a former fifth-round pick from 2008 and, after struggling from 2012-2013, the left-hander has a 3.44 ERA in 44 games (43 starts) since the beginning of 2014. He's 9-1 with a 2.67 ERA and 1.16 WHIP in 17 starts this year.

And finally, the 22-year-old Reed is a former 2013 second-round pick. He has spent three seasons in the minor leagues and reached Double-A in 2015 after going 5-5 with a 2.14 ERA and 1.19 WHIP in 13 games (10 starts) at Class A Advanced Wilmington. He's 2-2 with a 3.45 ERA and 1.19 WHIP in five starts with Northwest Arkansas.

The Reds added some serious depth to their minor-league pitching and got value for Cueto while they could to begin their rebuild.

Meanwhile, the best team in the American League hopes to make their second World Series appearance in two seasons.