Kerry Wood expected to sign by Friday; Cubs no sure thing

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Kerry Wood told NBC-5 in Chicago that he expects to sign by Friday, with Jim Salisbury of CSNPhilly.com reporting that the Phillies, Tigers, Angels, and Reds are among the teams competing with the Cubs for the 34-year-old reliever.

Wood took significantly less money to sign with the Cubs last offseason and said just a couple months ago that he might opt for retirement rather than pitch for another team, but apparently something changed along with the new front office regime taking over and now he’s looking to get fair market value.

Last winter Wood accepted a one-year, $1.5 million deal from the Cubs when he was being offered multi-year deals for higher annual salaries elsewhere, including from the crosstown White Sox. This time around Salisbury reports that Wood is looking for a one-year deal worth around $4 million, which is reasonable money and may still be too much for the Phillies unless general manager Ruben Amaro Jr. can get ownership to sign off on a payroll bump to add the setup man.

Wood pitched very well for the Cubs last season, throwing 51 innings with a 3.35 ERA and 57/21 K/BB ratio, so he’s certainly right to think he’s worth similar money to other veteran setup men who got one-year deals this offseason like Octavio Dotel ($3.5 million), Jon Rauch ($3.5 million), and LaTroy Hawkins ($3 million).