This story was approved by MLB Rumors.
According to the Chicago Tribune, the Cubs offer to Ryan Dempster is for four years at 12.5 million dollars annually. Dempster went 17-6 with a 2.96 ERA and 187 K in 33 games for the Cubs this past season. He dominated nearly all of his opponents and showed no signs of slowing down towards the end of the season. A source close to Cubs executives informed me that the Cubs would really like to lock him up before Friday, so a deal this Thursday is very possible. The Blue Jays are showing the most interest in Dempster so far, but several teams would probably jump in on him if he does hit the open market.
The Cubs are still in on Jake Peavy, and reportedly would like to get a deal done before Thanksgiving. With the Braves calling for a deal to be done by Friday, the Cubs will probably put no pressure on the Padres to get a deal done so they will be the only front-runner.