The Cubs avoided this morning's scheduled arbitration hearing with Matt Garza, agreeing to a one-year, $9.5MM contract for 2012. Garza's agency, CAA, tweeted the news and noted that the deal includes performance bonuses.
The Cubs had offered $7.95MM and Garza had asked for $12.5MM for a midpoint of $10.225MM. As MLBTR's Arbitration Tracker shows, the Cubs have agreed to terms on 2012 contracts with all of their arbitration eligible players.
Garza, 28, posted a 3.32 ERA with 9.0 K/9 and 2.9 BB/9 in 198 innings for the Cubs last year. He's a super two player who will be arbitration eligible for a fourth and final time next offseason. I examined the possibility of an extension between Garza and the Cubs earlier this offseason.