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