FEBRUARY 13TH: The deal is expected to be for three years and worth around $23MM, according to Gordon Wittenmyer of the Chicago Sun-Times.
12:54pm: Marmol's agent, Barry Praver, arrived at Fitch Park in Arizona today to finalize a multiyear deal for the closer, tweets Paul Sullivan of the Chicago Tribune. The contract extension is expected to be announced Monday, according to Gordon Wittenmyer of the Chicago Sun-Times (via Twitter).
FEBRUARY 3RD: The Cubs are close to signing closer Carlos Marmol to a long-term contract extension, according to Fred Mitchell and David Kaplan of the Chicago Tribune. The new deal is expected to be announced before Cubs pitchers and catchers report for Spring Training in Mesa, Arizona on February 13th.
The deal would buy out Marmol's remaining two years of arbitration eligibility for 2011 and '12 and perhaps lock him up beyond that. The righty had asked for $5.65MM in arbitration with the Cubs countering at $4.1MM. Marmol is the Cubs' final remaining arbitration-eligible player, as our Arbitration Tracker shows.
Marmol, 28, is coming off an excellent season in which he posted a 2.55 ERA and a whopping 16.0 K/9 en route to 38 saves. He gets it done with an extreme blend of strikeouts, walks, and flyballs.