According to Carrie Muskat of MLB.com, the Chicago Cubs have officially announced the signing of right handed pitcher Kerry Wood. They have scheduled a press conference for 2 pm CT at Wrigley Field today.

David Kaplan of the Chicago Tribune was the first to report that the sides were moving towards finalizing a deal.

Wood told Kaplan in an article that whatever decision he made about pitching in 2011 would have to be good for his family. The right-hander makes Chicago his permanent home, and being close to home and his longtime relationship with Cubs GM Jim Hendry were factors in the Cubs’ favor.