From the Wire….Floyd Officially a Cub

Cliff Floyd agrees to 1-year, $3 million dollar deal with a mutual option for 2008

Updated 5:29pm C.T. – With Information on Floyd’s Contract Incentives

According to a report on Yahoo Sports, the Cubs have agreed to a 1-year, $3 million dollar deal with free agent Cliff Floyd….the deal includes a mutual option for 2008. Yahoo names ESPN 1000 in Chicago as their source. Will update when more information is made available

UpdateAccording to a report in the Chicago Sun-Times, Cliff Floyd’s deal is full of incentives and could total as much as $17.5 million over the next 2 years. Here is the breakdown:

  • Floyd could earn an additional $4.5 million in bonuses this season based on plate appearances and time on the active 25-man roster
  • The 2008 option is guaranteed if Floyd starts 100 games or 425 plate appearances in 2007
  • The deal could be worth $17.5 million over the next 2 years if Floyd has 550 at bats in each of the two seasons (1100 total)
  • The deal could be worth $15.5 million over the next 2 years if Floyd has 500 at bats in each of the two seasons (1000 total)

The Cubs 40-man roster currently stands at 42 with the additions of Cliff Floyd and Jeff Samardzija in the last week.

Will Update if additional information is released