My view is that if Wood is going to get a 3-year, 12 million a year deal to pitch somewhere, it's not worth topping/matching/coming close to that. If Wood is going to get a 2-year, 12-13 million a year deal to pitch somewhere, it's worth at least exploring options to keep him around. If Wood is only getting a 1-year deal somewhere for even as much as, say, 14-15 million, there's no reason the Cubs couldn't at least make an attempt to sign him. And either way, they'd better be offering arbitration.