According to Paul Sullivan of the Chicago Tribune, Carlos Zambrano announced yesterday that he’s close to signing a five-year contract with the Cubs. However, Sullivan’s source says the two sides still have a long way to go and Zambrano has yet to receive a concrete offer.
Based on comments from Zambrano and Cubs GM Jim Hendry, the two parties seem to agree on a five-year length. Capping at five instead of six or seven years is a huge win for the Cubs, even if they go up to $17MM annually. Most likely, the sides will settle around five years and $80MM. That’d be a significant loyalty discount for the Cubs. On the other hand, Zambrano’s deal would be on par with those of Roy Oswalt and Chris Carpenter.