From the Wire … Cubs Re-Sign Kerry Wood

The Chicago Cubs re-signed Kerry Wood to a one-year deal worth $3 million that includes a club option for 2013 worth $3 million … without a buyout on the club option.

The signing was announced during Opening Ceremonies of the 27th Annual Cubs Convention. As the player introductions were coming to an end, the news of Kerry Wood re-signing with the Cubs began surfacing.

Pat Hughes made the announcement and the Grand Ballroom at the Hilton Chicago exploded with cheers of “Kerry! Kerry! Kerry!”

Kerry Wood was reportedly close to signing with another team earlier in the week and actually took, and passed a physical. The Cubs stepped up and kept Wood with the team.

During an interview on WGN Radio during the Cubs Convention, Jed Hoyer credited Theo Epstein and Tom Ricketts with re-signing Kerry Wood.

The Cubs have not announced a corresponding roster move. With the addition of Kerry Wood, the Cubs 40-man roster stands at 40 with one contract pending.

Follow ChicagoCubsOnline on Twitter: @TheCCO

Note: This report was updated – 9:30pm CT

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"As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them." - John F. Kennedy

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  • Tony_Hall

    Woody took a physical for another team, and was ready to take physicals for 2 others.  Makes you wonder what the initial offer was to Woody, if he said yes to $3M…of course the option could be just as important and the details behind it.

    • cubtex

      Now the question is who do they drop off the 40 man. Sonnanstine,Corpas,Mateo or Coleman. Any guesses??

      • mutantbeast

        Id drop Coleman. 

      • Tony_Hall

        Coleman…but they just introduced him.

        They might stick the contract in a drawer for awhile, to buy some time for some trades.

      • texcubnut

        I vote Casey Weathers

        • Ripsnorter1

          But they won’t….at least, I think not, since they just traded for him. But then again, Bianchi was cut after they acquired him two weeks earlier.

          I’d cut Mateo. He’s older and injured.

  • Vivid_Reality

    Still a discount, you’re a good man Woody.

    • cubtex

      I don’t know if it is a discount but it is a fair contract. This should have been done months ago. 1 year 3 mil. Cmon. What was the delay?

      • Vivid_Reality

        Its not a huge discount by any means but I think he could have gotten 3.5 – 4 mil elsewhere.

      • John_CC

        Yeah really, what’s the matter with these guys!?!

        Do think that maybe Woody’s agent was out trying to get another team to pay more? 

        Who cares!!  He is re-signed.  You made (another) big stink about nothing. Just leave it.

        • cubtex

          Ha…..I knew that would get a response from Theo JR :)……I could see a play about the Cubs based on this!!! It would go like this……Key free agent sees the Cubs string Kerry Wood along for months. A player who signed a 1 mil year deal last year just to play with HIS team…. Key free agent saying to his wife….”Damn baby!! Look what the Cubs did to Kerry Wood! They let the man take physicals with other teams and risk losing him over a 1 year 3 mil contract? Hahaha…If they treat Kerry that way….ain’t no way I will ever sign there!” Audience applauds…..John is saying to himself…..Theo is a stud. Theo is my hero. Theo has such great complexion.

          • John_CC

            Don’t quit your day job.

          • Tony_Hall

            You really think so…that all the free agents out there are sitting around worried about Kerry Wood and his $70M he has already made and how he had to wait until January 13th to get $3M more.   

            I don’t think so Tex!

            I think anyone who is still a FA has only 1 thing they are concerned with, their own contract, they are about to sign.  It will be with the team that pays the most money, period, end of story.

      • paulcatanese

        Interest from the bank:)

  • CubNC

    Loyalty in professional sports is all but dead. As a Cub fan, Kerry signing again makes us all believe in our team past, present and future.

    • Anthony

      loyalty stopped the day free agency began

      • John_CC

        Yeah, HaRUMpff!

  • Jeff in AZ

    Job well done Theo.

  • jw

    Hey hey!!

  • cubtex

    Yankees get Pineda from Mariners for Montero and sign Kuroda. Talk about a boost to their rotation!

    • cubtex

      With Michael Pineda traded tonight for Montero….does that hurt or help the market for Garza? Will the Blue Jays step up? Will the Tigers?

      • Ripsnorter1

        At the minimum, It takes one player out of the bargaining for Garza. Add in that the Yanks had the better prospects, and it possibly dilutes the compensation, don’t you think?

  • jw

    Hoyer: Have to build up foundation of organization, once foundation is built then use free agency to build house

  • Tony_Hall

    Wow, this is a swap of young talent.

    Pineda for Montero

    http://www.mlbtraderumors.com/2012/01/mariners-yankees-swap-pineda-for-montero.html 

    Plus Yankees sign Kuroda

    http://www.mlbtraderumors.com/2012/01/yankees-agree-to-terms-with-hiroki-kuroda.html 

    Kind of remaking their rotation.  I like Pineda (had him in fantasy last year), this almost assures that I will make him one of my keepers…D.

    • Aaron

      that is one of the worst trades in MLB in quite awhile. If you’re a Yankee fan…..wow, you must be on cloud nine. Montero, while having a great bat and plenty of hype, never really put it all together even though he wasn’t bad at all….it was just that results never came close to matching the hype.

      Pineda for Montero was slightly in the Yankees favor but the inclusion of that 19 yr old fireballer really made it no contest in favor of the evil empire.

      • Tony_Hall

        I guess, I will give it a little more time before declaring a winner on this one.  With 4 young players, the true winner of this trade won’t be seen for a few years.  The Yankees are getting an immediate need filled with a young SP, under control for 5 more years, and a young fireballer that may or may not make the majors in the future, while Seattle gets a bat that is very good in Montero, who will start immediately in Seattle and a SP to fill in the rotation spot of Pineda.  The winner will, most likely, come down to who has a better career, Pineda or Montero.

  • Tony Spumoni

    Whoopie, Whoopie!  World Series, here we come!

  • cubtex

    With the Yankees picking up 2 pitchers tonight……Soriano for AJ Burnett???? It makes sense.

    • Anonymous47701

      I’ll Buy that.

    • Aaron

      Very logical…especially with Posada retiring…..but would only happen if Garza is traded in my opinion

    • Tony_Hall

      The Yankees have a front 4 in the rotation of (in no order)

      CC
      Kuroda
      Pineda
      Nova

      and have Garcia, Hughes and Burnett for the last spot.

      They have been “rumored” to want Pena again this off-season.

      http://www.mlbtraderumors.com/2012/01/yankees-looking-for-hitting-carlos-pena-on-radar.html 

      I would rather have Pena than Soriano anyday, and wouldn’t cost any players, can be gotten on a 1 year deal, and can still play the field.

      AJ has 2 years,$33M left on his contract, so it makes sense, but he has a limited NTC that can block trades to 15 clubs.  

      So lets look at that potential list for this year.

      AL
      Indians, Royals, Orioles, A’s, Seattle, maybe White Sox

      NL
      Astros, Reds, Pirates, Mets, Padres

      Thats maybe up to 11, there’s no doubt for 2012, that the Cubs would be added to this list.

      A trade with the Cubs is more likely to be for Garza, and that is slim to none right now.

  • paulcatanese

    Cespedes must have something caught in his throat, choking for two days now.

    • Aaron

      He is already making excuses….did you see his quote about night games?

      • paulcatanese

        No, I didn’t see that, but if he is saying there’s a problem playing at night, then he better pick a new career.
        I was just thinking that in these playoffs he face’s better pitching and his true value shows.
        Better pitching and pressure, will be his downfall.

        • Dorasaga

          Like I posted before, Peter Bjarkman, a long time observer of Cuban baseball, already made a realistic assessment. It’ll be hyper-optimistic to assume Cespedes makes that “jump” from high-A or AA level to the Big, like his showcase video.

  • paulcatanese

    Not knocking it, but it seems everyone from management are saying exactly what Cub fans want to hear.
    Thats not all bad, Cub fans deserve a pep rally that they can believe in, I just hope for the fans it comes about.

  • Ripsnorter1

    Two quick questions:

    1. How many pitchers are on this roster?

    2. Have you ever thought about this?

    Theo Epstein: 5 year, $20 million dollar contract = $5 million per.

    Kerry Wood: $3 million.

    • gary3411

      20/5 = 4