According to a report from Bill Ladson, Matt Capps agreed to terms on a one-year contract with the Washington Nationals shortly after midnight Thursday.
Bill Ladson tweeted the news passed on by Capps’ agent Paul Kinzer.
Updated 9:38am C.S.T. – Matt Capps’ deal has a $3.5 million base with a chance to earn $425,000 more based on games finished. The Tribune reported “the Cubs seemed committed to losing out to the Washington Nationals in the bidding for former Pirate reliever Matt Capps.” The Cubs had not heard any positive news out of the Capps camp.
The Cubs will “take their time” adding another reliever to the pen according to the Tribune.
Will update when the details of the contract are released …
Update – According to a report from Bruce Levine, Matt Capps will earn $3.5 million in 2010. The one-year deal includes a $425,000 performance bonus bases on games finished. If Capps finishes between 40 to 65 games, the incentive bonus will kick the contract up to just under $4 million.