Cubs sign reliever Jose Veras to one-year pact

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As first reported by Enrique Rojas of ESPN Deportes, the Cubs have reached agreement on a one-year, $4 million contract with right-handed reliever Jose Veras. The deal also carries a $5.5 million club option for the 2015 season along with some undisclosed performance-based incentives.

Veras drew interest on the open market from the Astros and Rockies before settling Tuesday with Chicago. He will serve primarily as a setup man in 2014 behind Cubs closer Pedro Strop but could eventually get save opportunities if Strop struggles.

The Tigers declined a $3.25 million club option on Veras at the end of the 2013 season — a controversial decision after he posted a steady 3.02 ERA, 1.07 WHIP and 60/22 K/BB ratio across 62 2/3 total frames.

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UPDATE, 6:43 p.m. ET: CBS Sports’ Jon Heyman says Veras will be the Cubs’ closer.

Red Sox shut down David Price for remainder of season

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Red Sox manager Alex Cora said that starter David Price has been shut down for the remainder of the season during Wednesday’s appearance on WEEI’s Ordway, Merloni, and Fauria.

Price, 34, missed nearly a month between August 5-31 with a wrist injury (TFCC cyst). He returned on September 1, but lasted only two innings against the Angels and hasn’t pitched since.

Price ends a disappointing 2019 season with a 4.28 ERA and a 128/32 K/BB ratio in 107 1/3 innings across 22 starts. He’ll enter the fifth year of his seven-year, $217 million contract in 2020. $96 million remains on the deal.