According to USAToday;s Bob Nightengale, Arrieta will be signing within "the next couple of days" and the Phillies are the favorites to ink him to a deal. According to Jim Salisbury of NBC Sports Philly, the two sides have an agreement in principle that is pending a physical. That price could set the market, and the Phillies no doubt will be drooling for the chance to sign a former Cy Young victor to a one or two year deal at even twice that price.
Arrieta, who just turned 32, had a 3.53 ERA last season in 168 1/3 innings over 30 starts with the Cubs.
Arrieta was 68-31 with a 2.73 ERA in five seasons in Chicago after starting his career in Baltimore.
The deal is significantly shorter than what Arrieta hoped to receive on the free agent market, but once he conceded on his original asking price the Phillies aggressively moved forward. He'll join Aaron Nola atop the Phillies' rotation on a team that finished last in the NL East.
It's been an abnormally slow Major League Baseball offseason in terms of the open market, but marquee free agents have begun to start finding homes.