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