With minutes to spare, Hendry and Zambrano agree

The Cubs and Carlos Zambrano agreed to a one year contact for $12.4 million.

Apparently, they reached agreement with literally minutes to spare. There were still some details to be ironed out by the 2:00pm deadline but arbiters gave them leeway.

The figure was slightly higher than the $11.025 million that Zambrano was asking. Now the big question is if the Cubs can lock up Zambrano in a multi-year contract.

Update: What I’ve heard is his contract has a few incentives. They are all awards-based (finishing in the top 5 in Cy-Young, getting on the All-Star team etc).

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