ESPN is reporting that the Cubs and free agent Ryan Dempster have agreed on a 4 year 52m dollar contract, with an option for a fifth year. Dempster was in the Cubs rotation this year after serving as their closer from 2005-2007.

Dempster went an impressive 17-6 with a 2.96 ERA in 2007.

I see a bit of risk in this move for the Cubs, as this was only Dempster’s first year starting in four years. He was very impressive this year, but I’m not sure I can see him going 17-6 with a sub 3 era again.

In other news..

The NYPost is reporting that the Yankees are in serious pursuit of free agent fireballer AJ Burnett, and could offer him a deal in the 5 yr 80m dollar range.

Burnett went 18-10 with a 4.07 ERA for the Blue Jays in 2008.

Burnett is really intriguing, but if we go after KRod I feel that the price tag will be too high.

Gorden Wittenmyer of the Chicago Sun-Times reports that the Cubs are currently the team to beat in the race to sign OF Kosuke Fukudome. The White Sox, Padres, Mariners, Rangers and Giants have reportedly had serious interest in signing him.

The report also has a couple of trade rumors regarding the Cubs. As it stands right now, Mark Prior appears likely to land in his hometown of San Diego if dealt this offseason, though the Reds have also been linked to the 27-year old southpaw.

Also, Wittenmyer notes that the Toronto media have had reports out that suggest the Jays may pursue Cubs closer Ryan Dempster, who is prepping a return to the rotation next year.