Posted: Sat January 26, 2013 7:01PM; Updated: Sat January 26, 2013 7:01PM

Cubs finalize 2-year, $10M deal with Villanueva

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CHICAGO (AP) -- Pitcher Carlos Villanueva and the Chicago Cubs have completed a two-year, $10 million contract.

Villanueva will earn $5 million annually as part of Saturday's deal. The sides had agreed to the contract in mid-December, pending a successful physical.

The 29-year-old right-hander spent the past two seasons with Toronto and went 7-7 with a 4.16 ERA last year in 16 starts and 22 relief appearances. He slid to 0-3 with an 8.10 ERA in five September starts.

Villanueva spent the previous five seasons with Milwaukee. He has a 33-35 career record with six saves and a 4.26 ERA.

To clear a roster spot, the Cubs designated right-hander Lendy Castillo for assignment.

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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