The Cubs announced Monday that they signed Chang-Yong Lim to a minor league contract. The two-year deal is not a split contract as previously reported and does not require Lim to be added to the 40-man roster. Lim is coming off his second Tommy John surgery (July 2012) and is expected to rehab at the Cubs’ facility in Mesa. Lim could be ready to pitch at the end of the 2013 season but the Cubs are targeting for him to be ready to pitch in 2014.
The Cubs also acknowledged Ian Stewart re-signed with the team on a one-year contract and Jeff Beliveau was designated for assignment to make room on the 40-man roster for Stewart. Both moves were posted last week.
The amount of the two-year minor league contract that Chang-Yong Lim signed is unknown at this time. Reports last week suggested the contract was worth $5 million but reports since have stated the contract is non-guaranteed and would not pay Lim significant dollars unless he is pitching in the majors.
Updated 2:16pm CST – According to Carrie Muskat, Lim’s contract includes a $100,000 signing bonus. Lim will be paid minor league salaries for next two seasons unless the Cubs purchase his contract and he is added to the 40-man roster.
The Cubs still have to clear a spot to add Nate Schierholtz to the 40-man roster, which currently stands at 40 players. Schierholtz was expected to take a physical last week and once he passed, he was expected to be added to the roster. The delay is likely more procedural than Schierholtz not passing his physical.