Wood, 34, returns for his 16th season in the organization after going 3-5 with a career-high 21 holds, one save and a 3.35 ERA (19 ER/51.0 IP) in 55 relief appearances for the Cubs last season. He held the opponent scoreless in 41 of his 55 outings and limited foes to a .236 batting average (45-for-191). Overall, Wood is 86-73 with 63 saves and a 3.64 ERA (555 ER/1,371.1 IP) in 436 major league outings (178 starts) covering 13 big league seasons with the Cubs (1998, 2000-08, 2011), Cleveland (2009-10) and the New York Yankees (2010).
In 2012, Wood will become only the fourth pitcher in team history with 12 or more seasons with the franchise, joining Charlie Root (16 seasons), Guy Bush (12) and Rick Reuschel (12). Wood ranks third in franchise history with 1,464 strikeouts and ranks 14th with 331 appearances in his 11 big league seasons with the club.
Since pitching exclusively in relief starting with the 2007 season, Wood has posted a 3.49 ERA (94 ER/242.2 IP) and limited opponents to a .223 batting average in 247 appearances. In the last five seasons Wood has a 15-17 record, 63 saves and 32 holds. He has struck out 277 batters in 242.2 innings and allowed only 19 home runs since converting to a relief role.
Originally selected by the Cubs with the fourth overall pick of the 1995 Draft, Wood spent the first 14 years of his pro career in the Cubs organization before signing with Cleveland prior to the 2009 campaign. He was acquired by the Yankees at the 2010 trade deadline before returning to the Cubs on a one-year deal for the 2011 season.
The Cubs will make a corresponding 40-man roster move before Wood is officially added to the roster.