Cubs and Matt Garza avoid arbitration with one-year, $9.5 million deal

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The Cubs and Matt Garza have avoided arbitration by agreeing to a one-year, $9.5 million contract. Garza’s agency, CAA Baseball, broke the news via Twitter and added that the deal includes some performance-based incentives. The two sides were able to work out a deal prior to an arbitration hearing scheduled for today.

Garza requested $12.5 million and was offered $7.95 million from the Cubs when arbitration figures were exchanged earlier this month, so they settled for a little under the midpoint of $10.225 million. Presumably the incentives give him an opportunity to make up the difference.

Garza, who remains under team control through 2013, posted a 3.32 ERA and 197/63 K/BB ratio over 198 innings with Chicago last season. It looks like the rebuilding Cubs will hang on to the 28-year-old right-hander for now, but he figures to be a prominent name on the block as the trade deadline approaches in July.