This was tweeted late last night, too late for me to get a story posted here on the front page; I know you've all been busy discussing it at this FanShot.
This morning, we have more information, via a tweet from Bruce Levine:
It's been speculated in many places that if the Cubs signed Maholm -- another of the starting pitcher candidates they've been stockpiling -- this would make it more likely that Matt Garza would be traded. There are rumors that the Detroit Tigers are interested; I've written before that although I think Garza should stay, if the Tigers would send Jacob Turner the Cubs' way (along, perhaps, with Drew Smyly or Nick Castellanos), I'd be fine with this.
This deal can't be announced officially until there is a 40-man roster spot open; if Maholm is going to be at the Cubs Convention Friday and be a member of the team, more moves would seem to be coming.
There's one more thing. Garza was likely to make about $9 million this year via arbitration (or settlement before arb). The difference between that and what Maholm will make this year (according to the Levine tweet) would be enough to sign Kerry Wood.
Get it done, TheoJed.