Cubs Avoid Arbitration With Schierholtz, Valbuena, Russell

Numerous Twitter reports Friday morning have summed up the Cubs' arbitration-eligible players signing contracts.

To summarize those multiple reports, infielder Luis Valbuena has reportedly signed a one-year deal worth $1.7 million, and outfielder Nate Schierholtz a one-year contract for $5 million. Another report says James Russell has signed a one-year deal for $1.775 million.

According to this article, five other Cubs are eligible for arbitration and have so filed: Jeff Samardzija, Darwin Barney, Travis Wood, Pedro Strop and Justin Ruggiano. Barney is reported specifically to have not agreed to terms; other agreements could come later today. If not, here are the details of what happens next, from the above link:

Figures will be exchanged Friday between the Cubs and their eight players if no agreement is reached before then. Arbitration hearings are scheduled for Feb. 1-21.

Since two players reached agreement before the deadline, arbitration hearings will be scheduled for the other five. It's still possible for the Cubs and the arb-eligible players to reach agreement before an arb hearing. The last Cubs player to actually go to an arb hearing was Ryan Theriot in 2010; before that the Cubs hadn't had an arb hearing with a player since Mark Grace in 1993.