The Theo Epstein/Jed Hoyer era in Chicago begins with the team avoiding any arbitration hearings. The last unsigned player was Matt Garza, and this tweet from his agent gives the scoop on Garza's deal:
The Cubs had offered $7.95 million and Garza had asked for $12.5 million; the midpoint of those was $10.225 million, so the settlement is somewhat less than that, although the unspecified "performance bonuses" could presumably make up the difference.
Just 15 days until pitchers and catchers report to Mesa to begin workouts.