Cubs, Travis Wood avoid arbitration

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Left-hander Travis Wood and the Cubs have avoided arbitration with a one-year, $3.9 million deal, according to Patrick Mooney of CSNChicago.com.

Wood was a big bright spot for the Cubs last season, throwing 200 innings with a 3.11 ERA after coming into the year with a 4.22 ERA in 365 innings through age 25.

Around midseason Wood talked about wanting to sign a long-term deal to remain in Chicago, but the Cubs might be hesitant to buy high on a mid-rotation starter and they already control him through 2016 anyway.

Giants sign Austin Jackson to two-year, $6 million contract

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The Giants announced on Monday night the signing of outfielder Austin Jackson. According to Jon Heyman of FanRag Sports, it’s a two-year, $6 million deal with performance incentives that allow Jackson to earn up to an additional $2.5 million for a total of $8.5 million.

Jackson, who soon turns 31 years old, spent last season with the Indians. In 318 plate appearances, he hit .318/.387/.482 with seven home runs, 35 RBI, and 46 runs scored.

The Giants have been on the hunt for a center fielder and Jackson addresses that need relatively cheaply. Jackson will join Hunter Pence and newcomer Andrew McCutchen in the outfield.