According to John Perrotto of Baseball Prospectus, Ryan Dempster turned down the Cubs 4 year, $52 million offer.  This isn’t really news since we all knew there was little chance he’d sign for that kind of money after having the kind of season he did in 2008.  A lot of teams are interested in him ad he reportedly wants 5 years and $75 million.  I don’t think he’ll have a problem getting that, especially if CC Sabathia takes the Yankees 6 year, $140 million offer.  This is Dempster’s last big payday, and maybe his only big payday.  Cubs fans will likely be upset with Dempster for turning it down after repeatedly saying he wants to remain with the team, but Dempster is making the right decision.  Why take $50 million when you can get $75 million?  He shouldn’t have to settle for less and it appears he won’t. 

Of particular interest in this piece by Perrotto is where he says it’s still distinctly possible that Kerry Wood returns to the Cubs at a below market rate for one year since he’s not getting much interest on the free agent market. 

Below is the interesting part in the article.

Despite their seemingly ugly breakup this past week, some close to the situation believe that free agent Randy Johnson will still be in a Diamondbacks’ uniform on Opening Day, though the Dodgers and Cubs have interest in the veteran left-hander. ... Also breaking up to make up could be Kerry Wood, who may return to the Cubs on a low-budget contract with the market for relief pitching this winter flooded, and in light of the limited interest being shown in the big right-hander by other teams. ... Dempster re-signing with the Cubs is no longer a certainty after he turned down a four-year, $50 million offer, especially since they want to have money available to sign a left-handed hitting outfielder, either Bobby Abreu or Raul Ibanez. ... The Braves are interested in Dempster, Burnett, and Lowe after failing to complete a trade with the Padres for right-hander Jake Peavy. Padres GM Kevin Towers is looking to bring a third team into the discussion in an effort to restart the talks

Paul Sullivan said the other day that re-signing Dempster was Plan A with acquiring Jake Peavy as the back-up to plan A.  That makes it Plan B, but Sullivan doesn’t know his alphabet apparently and went on to say that Plan B would be the Cubs signing Randy Johnson and Plan C would be Ben Sheets.  The Cubs obviously have nothing in the system that can get a deal done for Peavy and Hendry has said he wants the pitching situation figured out before the Winter Meetings begin in a few weeks.  It would make sense that Hendry would act fast now that Dempster has turned down his offer and he’d be wise to leave the Peavy negotiations the way the Braves did. 

Several places have reported that the Cubs won’t go to 5 years in their offer with Dempster and some have speculated that they offered him as much money as they would.  So unless Perrotto’s source is incorrect, Ryan Dempster is gone and the Cubs will get 2 draft picks.  That’s 4 extra draft picks so far.  Word on the street is that the Giants may sign Howry before December 7th, which would give them another 2 picks without having to take the risk of offering him arbitration.