As expected, former Met Cliff Floyd agreed to terms with his hometown Chicago Cubs yesterday. The deal was a long time in the making as the Cubs attempted to find room in their budget for Cliff while constructing a highly complex, incentive-laden contract with the oft-injured slugger. According to ESPN.com, the deal is “creatively structured” and guarantees one-year at $3 million, however that number could rise to $7.5 million if certain health-related incentives are met. The deal also contains a player option, club option, and a vesting option that is activated if Floyd makes 425 plate appearances in 2007 or starts 100 games. If he gets 500 plate appearances in each of the next two seasons, the total value of the deal increases to $15.5 million. The ceiling for the deal is $17.5 over two years, and can be attained by reaching 550 plate appearances in each of the next seasons.

The Mets will miss Floyd for both his bat and his presence in the clubhouse. Floyd was extremely popular among his teammates, and a close friend to third baseman David Wright, who carried Floyd’s bags throughout his un-official rookie season in 2005. At the end of the day, the Mets decided that 40-year-old Moises Alou would be less of an injury-risk than the 34-year-old Floyd. Given Floyd’s history, it’s tough to argue with them.