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Zambrano, Cubs reach $12.4 million, 1-year deal

Updated: February 20, 2007, 7:43 PM ET
Associated Press

MESA, Ariz. -- Carlos Zambrano and the Chicago Cubs agreed to a $12.4 million, one-year contract Tuesday, avoiding salary arbitration by striking the deal just before the scheduled hearing.

He would also earn bonuses for finishing among the top five in Cy Young Award voting, being named MVP of the World Series and League Championship Series, making the All-Star game, winning the Gold Glove and the Silver Slugger award.

Zambrano earned $6.5 million last season while going 16-7 with ...

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