The Cubs and free-agent reliever Kerry Wood have agreed to a one-year deal with an option for 2013.
Wood, 34, resides in Chicago and indicated during the offseason that he prefers to remain with the Cubs — where he has spent 11 of his 13 big-league seasons. He will get his wish, even though the Cubs are entering a true rebuild for the first time in years.
Wood went 3-5 with a 3.35 ERA in 51 innings for the Cubs last season.
The Phillies showed interest in Wood, sources say.