According to several reports out of Chicago, Carlos Zambrano and the Cubs have agreed to a 5-year, $90 million dollar deal that is expected to be officially announced at a 10:15am press conference.
Updated – 9:36am C.T. – Ken Rosenthal from FoxSports is reporting Zambrano’s new deal is 5-years, $91.5 million with a 6th year player option worth $19.25 million. The contract will give Zambrano the highest average salary ever awarded to a pitcher on a multi-year contract and his new contract will also pay him the highest average salary ever in Chicago Cubs history. Will update when more information becomes available.