Chicago Cubs Sign Gerardo Concepcion

The Chicago Cubs have agreed to sign Cuban left-hander Gerardo Concepcion to a $7 million contract with incentives that could potentially push the payout to $8 million, according to Enrique Rojas of ESPN Deportes. The contract, which was originally reported by Jorge Ebro of El Nuevo Herald, will become official once he passes a physical.

Concepcion, 18, was declared a free agent last week after defecting from Cuba a few months ago. He established residency in Mexico last month and was heavily coveted by numerous teams, including the Blue Jays, Yankees, White Sox, Royals, Phillies, Giants and Rangers.

As the Cubs try to rebuild the organization under a new baseball operations team led by Theo Epstein, Jed Hoyer and Jason McLeod, these are the kinds of moves that we can expect from the club. They're building for the future, and while Concepcion is years away from hitting the majors, he's got substantial potential.

For more on the offseason, stay tuned to SB Nation Chicago. For more from around baseball, head over to Baseball Nation. To keep track of all rumors and happenings in the game, check out MLB Daily Dish.

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