From the Wire….Cubs Agree to Terms with Alfonso Soriano

Updated – 2:15pm – Soriano Agrees to Deal with Cubs – 8 Years, $136 million
Updated – 2:31pm – With Info from the Chicago Tribune – Soriano to Play Center and Hit in the Lead-off Spot
Updated – 4:21pm – With More Info on the Signing

According to a report 12 minutes ago from Ken Rosenthal at FoxSports.com, the Cubs are close to signing Alfonso Soriano. The ALERT from Fox Sports indicates the deal could be 8 years worth $135 million dollars or $17 million per year.

The Astros, Phillies and Angels may have something to say about this.

Update – According to a report on ESPN.com the Cubs have agreed to an 8-year, $136 million dollar contract with the Cubs.

Check back for Updates as the story unfolds….

Update – 2:31pmAccording to a report in the Chicago Tribune by Paul Sullivan, the deal for Alfonso Soriano is contingent on Soriano passing a physical and the deal is expected to be made official on Monday. According to Sullivan, Soriano will play centerfield and hit in the leadoff spot.

The Cubs will now turn their attention to the rotation.

Update – 4:21pm - The Cubs deal with Soriano is the 5th biggest in the history of Major League Baseball behind Alex Rodriguez ($252 million for 10 years), Derek Jeter ($189 million for 10 years), Manny Ramirez ($160 million for 8 years) and Todd Helton ($141.5 million for 11 years). Soriano will turn 31 on January 7th and the deal will conclude just before his 38th birthday. The terms of the deal have not been released but there are reports stating that 5-6 years are guaranteed and the other 2-3 years are option years….no word yet on the no-trade clause that has to exist.

Soriano, last season with the Nationals, was the first player in the history of the game to hit 40 home runs, steal 40 bases, hit 40 doubles and have at least 20 outfield assists….he also became the first member of the 40(home run), 40 (doubles) and 40 (stolen bases) club.

The Cubs signing Soriano will cost them a sandwich pick, between the 1st and 2nd rounds, and a 2nd round pick in the 2007 draft as compensation to the Washington Nationals for losing Soriano (the first 15 picks in the draft are protected).

Will update when more information on the terms of the contract are released….