Wood deal done
Kerry Wood passed his physical and has signed a two-year contract worth nearly $20 million. The contract includes a club option that has a vesting mechanism within it.
General manager Mark Shapiro will discuss the signing — and that complicated option — on a conference call with reporters this afternoon.
UPDATE: Wood is guaranteed $20.5 million over the two years ($10 million in ’09 and $10.5 million in ’10). The option is worth $11 million and vests if Wood finishes 55 games in either season. Otherwise, it’s a club option.
Read all about the deal, including reaction from Shapiro and Wood, right here.