Day 1 of the Cubs Convention had no shortage of events. Players from Hall of Famer Andre Dawson to Jose Cardenal to Todd Walker all were introduced with various levels of reaction.

New President of Baseball Operations Theo Epstein received a rousing ovation from the crowd in his first fan-oriented appearance since taking over in October. His reaction was only topped by the news that Kerry Wood had been re-signed. Wood then emerged from behind a blue curtain to welcome the rowdy fans.

Wood’s new deal will pay him $3 million in 2012, with a team option for 2013, also at $3 million. No buyout was reported as part of his new contract. While it’s a significant raise from his 2011 salary of $1.5 million, Wood again left potential higher money on the table to stick with the Cubs. CSNPhilly.com’s Jim Salsbury wrote that Wood was seeking $4 million a year.

Much like last year, when he turned down offers from the Red Sox and White Sox that would have paid him a $5 million salary, Wood took the lesser money to stay a Cub.

Wood was pushed out the door after the  2008 season, when the Cubs acquired Kevin Gregg from the Marlins for Jose Ceda. Ceda had previously been acquired from the Padres for Todd Walker.

At the time, then-GM Jim Hendry said, “Kerry is certainly deserving of a three- or four-year contract.” Speculation and rumors at the time were that Wood was willing to accept a one-year deal to stay a Cub. With the failure of Kevin Gregg at closer, one has to wonder if that would have been the right move.

Coming back into the fold for 2011, Wood was promised a post-playing career position with the Cubs, according to ESPNChicago’s Bruce Levine. The job, rumored to be as a broadcaster, would seemingly stay intact with Wood’s new contract agreement.

Also of note on Friday were two reports from ESPN.

The first, from Jayson Stark, stated that the Cubs may still be in the bidding for Prince Fielder. Even with the acquisition of top first base prospect Anthony Rizzo, the Cubs still have a lot of room in the 2012 budget, and Scott Boras could agree on a deal with the Cubs for Fielder on the Cubs’ terms.

With Rizzo waiting in the wings, the deal would presumably be for no more than three years with a very high annual salary. While this may go against what Boras wants for Fielder, it may wind up leading to Prince making more money by the end of his career. Signing a short-term contract in Chicago could put him in place for a 10-year deal in a couple of years, when more teams will have openings at first base and cash to spend.

The second report, from Levine stated that Alfonso Soriano has reiterated his willingness to waive his no-trade clause. The catch is that Soriano will only waive this to join a contender, so any chance of flipping him to Baltimore for Brian Roberts has been crushed.

The Yankees are one possibility for Soriano. His old team could send the Cubs a mid-level prospect for Soriano, assuming the Cubs eat the vast majority of his contract. Soriano would slide in at DH, with his contract expiring just in time for the Bronx Bombers to shift Alex Rodriguez into that slot.

Another possibility for Soriano is the Texas Rangers. Assuming they come to terms with Japanese pitching sensation Yu Darvish, it’d seem highly unlikely that the Rangers sign Fielder, according to Fox Sports’ Jon Morosi on Twitter. With that in mind, the Rangers seem to potentially be in the market for another big bat to add to their high-powered offense. Soriano could take over at DH and see his numbers rise in the hitters paradise that is The Ballpark At Arlington.

My personal dark horse pick for where Soriano will land is the Tampa Bay Rays. As I wrote back in December, Soriano could provide cost-controlled power and speed for the offensively starved Rays. While Soriano wouldn’t net the return of someone like Alex Cobb from the Rays’ system, he could bring in a solid starting prospect, which is what the Epstein and Hoyer regime seems to be all about.

In a final, smaller move, the Cubs have reportedly signed utility man Alfredo Amezaga to a minor league contract, according to Ken Rosenthal of Fox Sports via Twitter. Presumably Amezaga will get an invitation to Major League camp, but will provide depth and insurance at Triple-A Iowa.

All in all, a very interesting first day of the Cubs Convention. More is sure to come over the next two days of the convention, and the month and a half until spring training.

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