Sanchez, 31, had an 8.75 ERA (48 ERA+) and 2.15 WHIP in 78 1/3 innings for three teams over the last two seasons. The last time he was actually serviceable was 2011, when he managed a 4.26 ERA (82 ERA+) and 1.44 WHIP in 101 1/3 innings for the Giants.
Chicago will bring Sanchez to camp as a reliever. He has held left-handed batters to a .218/.313/.363 (80 OPS+) batting line in his career while striking out a touch more than one-quarter of batters faced. Given how things have gone the last two years, the role change is worth a try for Sanchez.
Wada, 32, signed a two-year contract worth $8.15 million with the Orioles two offseason ago, but he blew out his elbow and never threw a single pitch for them. In his last healthy season, he went 16-5 with a 1.51 ERA in 184 2/3 innings for the Fukuoka Softback Hawks in Japan.