It looks like Kid K is coming back.
Kerry Wood, who went from a hard-throwing starter to closer with the Cubs, has agreeing to a one-year, $1.5 million contract with Chicago, a person familiar with the negotiations told The Associated Press.
The person spoke Thursday on condition of anonymity because the agreement had not yet been announced.
The Cubs have yet to announce the addition of Wood, as the club does not comment on any transaction until it is official.
Wood was effective in short relief with the Yankees this season, compiling a 0.69 ERA in 24 games and giving up two earned runs over 26 innings and striking out 31.
He would complement lefty Sean Marshall in the Cubs' bullpen and provide an experienced right-hander to set up closer Carlos Marmol. The addition of Wood could prompt the team to move Andrew Cashner from the 'pen to the rotation.
Wood needed to pass a physical and contract details had to be finalized before the deal could be made official. Cubs general manager Jim Hendry is well-versed in the right-hander's medical history. Wood has been on the disabled list 14 times in his career because of his shoulder, elbow, back and blisters.
Last Friday, Wood attended a fundraiser in Chicago for Cubs pitcher Ryan Dempster and told the Chicago Tribune he's putting family first.
"There has been a lot of interest, but at this stage of my career, it has to be the right fit for my family," Wood said. "We are raising our kids and making our permanent home in Chicago, so we'll see what happens."
Wood pitched for the Cubs from 1998-2008, leaving via free agency to sign a two-year, $20.5 million deal with the Indians. On July 31, he was traded from Cleveland to New York for two Minor League players.
As a starter, Wood has a career 71-55 record with a 3.69 ERA, and as a reliever, he's 12-13 with 62 saves (including 34 with the Cubs in 2008) and a 3.45 ERA. He burst onto the scene in 1998, striking out 20 in his fifth big league start, and won National League Rookie of the Year honors that year.
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