The Rockies have agreed to a deal with Wade Davis, the biggest-name closer on the free-agent market, according to a report from Yahoo Sports' Jeff Passan on Friday.
The club has not confirmed the report.
According to multiple reports, Davis' deal is for three years and worth $52 million, making it the highest per-year salary ever for a reliever. According to MLB Network Insider Jon Heyman, Davis would get a $1 million assignment bonus the first time he is traded and then have full no-trade protection. The Rockies would lose their third-highest Draft pick, which is currently No. 61, and the Cubs would get a compensation pick after Competitive Balance Round B, which currently would be No. 76.
Davis was the Cubs' closer in 2017, notching 32 saves with a 2.30 ERA and 79 strikeouts in 58 2/3 innings for the National League Central champs. He saved four more games in the postseason, including all three wins of the Cubs' NL Division Series win over the Nationals and a 2 1/3-inning save in the winner-take-all Game 5.