Cubs and Carlos Marmol avoided arbitration Monday by agreeing to a three-year, $20 million contract.

The new contract will cover Marmol's final two years of arbitration and his first year of free agency. He'll take home $3.2 million this season, $7 million in 2012 and $9.8 million in 2013. The new deal also includes a limited no-trade clause. The 28-year-old right-hander had a rough debut with the Cubs in 2006, but has a 2.54 ERA and strikeout rate of 12.9 K/9 since the start of the 2007 season. There's some risk attached due to the potential for injury, but Marmol should continue to be a pretty good value, even with his control issues.

Bruce Levine of ESPN Chicago reports that Carlos Marmol and the Cubs have avoided arbitration by agreeing to a three-year contract believed to be worth $20 million.

Marmol completed a physical with the Cubs over the weekend, so we've expected this one for a while now. The new deal will buy out his final two years of arbitration and his first year of free agency. The 28-year-old right-hander is a bit erratic at times, but posted a 2.55 ERA and an incredible 138 strikeouts over 77 2/3 innings with the Cubs last season.

The Chicago Sun-Times' Gordon Wittenmyer reports that Carlos Marmol's contract extension is expected to be announced Monday.

This one has been in the works for a while. Marmol took and presumably passed a physical Saturday, so the two sides appear to need only to dot the i's and cross the t's to make the extension official. It's still not known how long the deal is or how much Marmol will be getting, but we'll find out soon enough. The 28-year-old posted a 2.55 ERA, 1.18 WHIP and historic 15.99 K/9 rate in 2010.

Carlos Marmol took a physical Saturday and his long-term contract should be finalized soon.

The details of the deal have yet to be revealed. Marmol is in his second year of arbitration, so he'll at minimum be buying out those last two years. The closer is coming off a fantastic season that saw him save 38 games while posting a 2.55 ERA, 1.18 WHIP and record-breaking 15.99 K/9 rate.

Carlos Marmol needs to pass a physical before his long-term contract extension with the Cubs can be finalized.

The Cubs could wait to perform that physical until Marmol reports to spring training with the rest of the team's pitchers and catchers on February 13. They could hold off on announcing the length and worth of the deal, too. The 28-year-old closer posted a cool 2.55 ERA and set a baseball record with his 15.99 K/9 last season. He also saved 38 games for the Cubs and will be rewarded handsomely no matter how long the new deal runs. Marmol requested a $5.65 million salary for 2011 and was offered a $4.1 million figure when arbitration numbers were exchanged in January.

According to the Chicago Tribune, the Cubs are close to finalizing a long-term contract with closer Carlos Marmol.

The Tribune article gives barely any details, saying only that the deal "should be announced" before pitchers and catcher report to spring training in about two weeks. Marmol is eligible for arbitration this winter for the second time in his career and requested a $5.65 million salary when figures were exchanged last month. This extension could be of the two-year variety, buying out his remaining years of arbitration eligibility. Or it could be bigger, and worth major money. Marmol posted a fantastic 2.55 ERA and 38 saves last season for the Cubs while fanning 138 batters in 77 2/3 innings.

Carlos Marmol requested $5.65 million and was offered $4.1 million from the Cubs when arbitration figures were exchanged Tuesday.

Marmol earned $2.1 million in his first time through the arbitration process last winter, but is poised for a sizable raise after posting a 2.55 ERA, 38 saves and 138 strikeouts over 77 2/3 innings last season. There has been some optimism between the two sides about a potential multi-year contract.

The Cubs are trying to work out a multi-year deal with Carlos Marmol.

Marmol is arbitration-eligible for the second time this winter, but the Cubs would like to lock him up beyond that after a season that saw him post 38 saves, a 2.55 ERA, 1.18 WHIP and ridiculous 16.0 K/9 rate. He made $2.1 million in 2010 and would likely at least double that in arbitration.

Carlos Marmol's agent Barry Praver met with Cubs general manager Jim Hendry on Wednesday.

Marmol earned $2.1 million this past season while posting a 2.55 ERA, 38 saves and 138 strikeouts over 77 2/3 innings, so he could make somewhere around $4-5 million via salary arbitration this winter. The 28-year-old right-hander is under team control through 2012, but look for the Cubs to try to lock him up to a contract extension before long.

A team source tells Bruce Levine of ESPNChicago.com that Cubs pitching coach Larry Rothschild informed the team Monday that he is picking up his option to return next season.

Rothschild has been the team's pitching coach for the past nine seasons. The Cubs were 13th in the league with a 4.18 ERA this season, after ranking in the top five from 2007-09. It's not known if a high-profile new manager could have an impact on his plans to return next season.

Carlos Marmol pitched a perfect ninth inning Thursday en route to his 37th save of the season.

Marmol has really had a fantastic season. He's converted 37 of 42 save opportunities, posted a 2.58 ERA, 1.20 WHIP and a whopping 136 strikeouts, which is the same number as Tim Hudson, who has thrown 145 more innings. He'll be taken among the elite closers at fantasy drafts next season.

Ed Price of AOL Fanhouse reports that former Diamondbacks skipper Bob Melvin will be interviewed Friday for the Cubs' opening at manager.

Melvin was fired by the Diamondbacks during the 2009 season and is currently working as a scout in the Mets' organization. Ryne Sandberg is still believed to be the front-runner for the the gig in Chicago, but the Cubs have not yet committed to him and he's now speaking with the Blue Jays.

Carlos Marmol racked up his ninth save this month by getting four outs in Wednesday's win over the Giants.

Marmol is absolutely on fire. He has converted 12 straight saves and now has 34 on the season with his usual impressive strikeout rate. Marmol proved he can handle the ninth inning job in his first full season in the role.

Carlos Marmol is available to pitch Sunday despite notching a save on Friday and Saturday.

Manager Mike Quade originally thought about staying away from Marmol, but he changed his mind after talking to the closer. Quade did say that Marmol would only pitch if there's a save situation, which is all fantasy owners care about, anyway.

According to ESPN's Tim Kurkjian, the Cubs plan to interview former Diamondbacks manager Bob Melvin for their managerial vacancy.

The Cubs have already spoken with former Indians skipper Eric Wedge and also have plans to interview Triple-A Iowa manager Ryne Sandberg and former Marlins manager Fredi Gonzalez. Sandberg, for now, appears to the be the favorite but the Cubs are clearly going to consider a variety of options. Melvin was fired by the D'Backs in 2009 and is now a scout for the Mets.

According to Bruce Levine of ESPN Chicago, the Cubs are expected to interview Ryne Sandberg for their managerial opening in the next 10 days.

Former Indians manager Eric Wedge has already been interviewed and the Cubs are also expected to meet with former Marlins skipper Fredi Gonzalez. Sandberg, at least in our eyes, remains the favorite to land the gig. He's put in his time at Triple-A Iowa and is well-liked around the game of baseball.

The Cubs began their search for a new manager on Thursday with an interview of former Indians skipper Eric Wedge.

Wedge, 42, collected over 500 wins with the Indians from 2003-2009 and led the Tribe to the ALCS in in 2007. He had a face-to-face chat with Cubs GM Jim Hendry on Thursday in Cleveland and is one of many candidates that the Cubs are going to consider. Triple-A Iowa manager and former Cubs great Ryne Sandberg, for now, seems to be the favorite.

Carlos Marmol blew his fourth save of the season in epic fashion on Saturday, allowing four runs and five walks in a 4-1 loss to the Phillies.

An effort like this may very well ruin your entire week. Marmol retired Greg Dobbs with an innocent flyball to begin the inning, but then walked Brian Schneider and Ross Gload. After getting Shane Victorino to strike out, Marmol allowed a game-tying single to Placido Polanco. Tyler Colvin's throw to home plate actually had a legitimate chance to nail Schneider, however Geovany Soto couldn't come up with the ball. Sadly for Cubs fans and Marmol owners, he wasn't done. He would go on to walk three more batters (one intentionally) and throw a wild pitch, resulting in two more runs. He was yanked by Cubs manager Lou Piniella after throwing 36 pitches. James Russell would allow the fourth run to score, closing the book on Marmol's nightmare afternoon. His ERA hopped from 2.11 to 2.91 in the loss.

Carlos Marmol struck out the side in the ninth Thursday to protect a one-run lead against the Dodgers.

The Cubs didn't generate many save chances early on, but Marmol has converted six of seven over the last 12 days. For the year, he's 11-for-13, with both of his blown saves coming in games that he was asked to enter in the eighth. He's struck out a remarkable 49 batters in 24 2/3 innings.

Carlos Marmol worked a very shaky ninth inning, but didn't allow a run and picked up his seventh save of the season Wednesday night.

Marmol was more wild than normal, which is saying a lot. He threw three straight balls to Jimmy Rollins before getting him to line out. He then walked Raul Ibanez and plunked Carlos Ruiz. At that point, manager Lou Piniella was steaming and called for Sean Marshall to get up in the bullpen. Marmol settled down and struck out Ross Gload and Shane Victorino to end the inning. Marmol is a fantasy asset because of his high strikeouts and somewhat secure job, but know you're taking a hit in WHIP.