Cubs re-sign Kerry Wood to one-year, $3 million deal with club option for 2013

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Things looked a little dicey earlier this week, but Kerry Wood is back where we all thought he would be when the offseason began.

From David Kaplan of CSNChicago.com comes word that the Cubs and Wood have agreed to terms on a new deal. The announcement was made to an “insane ovation” at Cubs Convention earlier this evening. Gordon Wittenmyer of the Chicago Sun-Times reports that he’ll get a one-year deal worth $3 million with a club option for 2013.

Wood signed a team-friendly one-year, $1.5 million deal with the Cubs last offseason, despite getting multi-year offers for more money elsewhere, but his new deal is much more in line with the market value for a veteran set-up man. The 34-year-old right-hander posted a 3.35 ERA and 57/21 K/BB ratio over 51 innings in 2011. He’ll set up for closer Carlos Marmol again in 2012.

Yasiel Puig’s one-game suspension has been rescinded

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MLB.com’s Ken Gurnick reports that Dodgers outfielder Yasiel Puig‘s one-game suspension has been rescinded. Instead, he will make a charitable donation. The alternative “punishment” was agreed to by Major League Baseball and the Players’ Association.

Puig was suspended one game two weeks ago after flipping off some hecklers at Progressive Field in Cleveland. Puig showed remorse after the game, saying, “I stooped to their level.”

Entering Tuesday night’s action, Puig was batting .251/.331/.458 with 14 home runs and 41 RBI in 287 plate appearances.

Video: Adrian Beltre hits his 450th career home run

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Rangers third baseman Adrian Beltre picked a good time to hit his 450th home run. With the game tied 1-1 in the top of the ninth inning, Beltre took the first pitch he saw from closer Cody Allen for a ride, sending it into the left field seats at Progressive Field to break the tie.

The Rangers would go on to win 2-1. Beltre finished 2-for-4. He now has 2,969 career hits, leaving him 31 shy of becoming the 31st member of the 3,000 hit club.

On the season, Beltre is hitting .303/.373/.562 with five home run sand 22 RBI in 102 plate appearances.