From the Wire … Cubs Avoid Arbitration with Matt Garza

According to a report from Matt Garza’s agent, the Cubs and Matt Garza avoided arbitration on Friday morning by agreeing to a one-year contract worth $9.5 million. The contract also includes performance bonuses but those terms have not been released.

Garza’s arbitration hearing was scheduled for Friday.

Updated 12:33pm CST – According to the Associated Press, Matt Garza can earn additional $150,000 in performance bonuses based on innings: $50,000 for 210 and $100,000 for 220.

Matt Garza submitted a $12.5 million figure for 2012 and the Cubs had countered with $7.95 million, Garza was paid $5.95 million in 2011.

Will update when more information is made available …

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