Lester, Cubs Agree To $155M, 6-Year Contract

New manager Joe Maddon says his Cubs have "won the baseball lottery this year," making the first big catch among top free-agent pitchers at Major League Baseball's winter meetings last night.

Jon Lester agreed to a $155 million, six-year contract with Chicago. It contains an option for 2021 that, if it becomes guaranteed, would make the deal worth $170 million over seven seasons.

Lester won two World Series titles with Boston and is a three-time All-Star. The left-hander turns 31 next month.

The signing is part of a major makeover for a team that is trying to end a run of five straight losing seasons and a championship drought that dates to 1908.

Earlier Tuesday, the Cubs acquired All-Star catcher Miguel Montero from Arizona for a pair of minor leaguers. Chicago also has a pending $20 million, two-year deal with right-hander Jason Hammel.