According to a tweet by Bruce Levine of ESPNChicago, the Cubs have agreed to terms with free agent LHP Paul Maholm.  The contract will pay Maholm $4.25 million for one year and includes a club option for 2013 for $6.25 million and a $500,000 buyout.

The 29-year old Maholm spent seven season with the Pirates where he put together a 53-73 record and a career ERA of 4.36.  In 2011, he pitched 162.3 inning and had a 6-14 record and an ERA of 3.66.  The lefty projects to be the Cubs #4 or #5 starter.

I’m ambivalent about the move.  On the one hand, he figures to be a decent back-of-the-rotation starter for the Cubs in 2012.  If he impresses, the team has a club option to bring him back at a reasonable salary.  On the other hand, I’m not certain that the team needs another back-of-the-rotation starter.  They already have Travis Wood, Chris Volstad, Randy Wells, and Jeff Samardjzia competing for that honor.  Did they need to spend another $4.75 (2-11 salary plus 2012 buyout) to bring in someone else?

In the end, Maholm is not going to ruin the Cubs 2012 season nor is his contract going to break their budget.  And I guess that’s what the signing comes down to: it is largely inconsequential.  I hope he does well and I hope he helps improve what otherwise looks to be a rather hopeless team.  But if he doesn’t, I don’t think anyone will be surprised.