Cubs re-sign Kerry Wood

The Cubs and pitcher Kerry Wood have agreed to terms on a one-year contract with a club option for the 2013 season. The deal is worth a reported $3 million.

Wood, 34, returns for his 16th season in the organization after going 3-5 with a career-high 21 holds, a save and a 3.35 ERA in 55 relief appearances for the Cubs last season. He held opponents scoreless in 41 of his 55 outings and limited opponents to a .236 batting average.