From ESPN: The former Chicago Cubs star finalized a $20.5 million, two-year contract Saturday, a deal that includes a 2011 option that could become guaranteed.Wood had one of those "what could have been" careers in Chicago, as he was one of the preeminent starters in the game before injuries took their toll.
Wood gets $10 million next year and $10.5 million in 2010. The Indians' $11 million option would vest if Wood has 55 games finished in either of the next two years.
General manager Mark Shapiro will hold a conference call later in the day to formally announce Wood's signing.
Wood, who saved 34 games in his first season as a closer for Chicago, reached a preliminary agreement with the Indians during the winter meetings. But because of his long history of arm and elbow problems, Wood had to pass a physical before the Indians would finalize the package.
However, he came back and re-established himself as a solid closer.
I don't think his arm could stand up to the rigors of starting anymore, but he's one hell of a closer with great stuff. The Indians really needed the bullpen help and they got it with Wood.
I'll be looking forward to seeing what he can do in the American League.