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The Cubs on Thursday announced that they signed outfielder Dexter Fowler to a one-year contract plus an option for 2017. ESPN Chicago's Jesse Rogers puts the deal at $8 million for 2016 plus a $9 million club option/$5 million buyout for 2017. This comes two days after the Orioles reportedly agreed to terms with Fowler on a three-year, $35 million contract. Suffice it to say, this is a stunning turn of events. So what's going on? Here's this from CBS Chicago's Bruce Levine:

In 156 games last season for the Cubs, Fowler, who turns 30 in March, hit .250/.346/.411 (107 OPS+) with 20 stolen bases and new career highs in home runs (17) and walks (84). For his career, Fowler has put up an OPS+ of 104 across parts of eight big-league seasons. Earlier this offseason, Fowler rejected a qualifying offer from the Cubs. 

Oh, and he's already at Cubs spring training ... 

The Cubs figure to open the season with Kyle Schwarber and Jorge Soler at the outfield corners and the newly acquired Jason Heyward playing out of position in center. So Fowler, with his speed, solid bat, and ability to man all three outfield positions, figures to be a valuable depth piece. 

Surprise! Dexter Fowler is headed back to the Cubs.
Surprise! Dexter Fowler is headed back to the Cubs. (USATSI)