The Cubs and veteran reliever Kerry Wood have agreed to a one-year contract that also includes an option for 2013. The contract will pay Wood $3MM next season, according to Gordon Wittenmyer of the Chicago Sun-Times (via Twitter) with the 2013 option also worth $3MM. The new deal was announced with a bit of theatricality at the Cubs fan convention, as Wood then stepped onto the stage to a raucous ovation from fans.
Wood's return to Chicago was considered a foregone conclusion but negotiations hit a snag earlier this week, which drew the Phillies and Reds into the Wood market. Things appeared to clear up by Wednesday, however, when FOX Sports' Jon Paul Morosi reported the two sides were close on a one-year deal with an option for 2013.
Wood posted a 3.35 ERA, 10.1 K/9, 3.7 BB/9, 0.88 HR/9, and 35.8% groundball rate in 51 innings for the Cubs last year. He missed time with a blister, and also saw his season end about a week early due to a torn meniscus in his left knee. With Carlos Marmol tying for the MLB lead with 10 blown saves last year and Sean Marshall now with the Reds, Wood will be next in line to close for the Cubs if Marmol falters.
MLBTR's Tim Dierkes contributed to this post
Yes!!
This was a no brainer for the Cubs.
Is this the year everyone should be excited about the signings of the set up man? Â
Good news
who would’ve ever guessed. though I was surprised to hear it was ONLY for $3MM and an option.
source on the 3 mil?
i believe sully tweeted it earlier, though i’m not sure if he’s who “broke” the #.
Finally… 🙂 Welcome back Kid K!
Now, trade him at the deadline for prospects, any prospects. Rinse and repeat.
Apparenty Theo Einstein is not calling all of the shots.
 People often forget that Hoyer is GM.
Theo has said from the beginning that he wanted to sign Wood. This is still a Theo move. Plus, club option for a second year. Good PR move and good for the bullpen. Welcome back Kerry!