I haven't seen any contract speculation on Wood, yet - but I think it safe to assume he's open to a two-year plus option deal (unless you're the Cubs and he'd accept a one year deal!). Assuming he's well south of Krod and Fuentes projected average annual salary range of $10 - $14 million, let's say he'd go for a two year $6 million a year with a $2 million option-year buyout. Why wouldn't the Tigers jump at this especially considering the signing doesn't cost draft picks?
Sure, Wood is an injury risk - but he pitched 65+ innings last year and was on the DL only once and early in season. His peripherals are wonderful - 1.3 K per inning, 4.7 K to BB ratio - only 18 unintentional walks in 66 innings. Simply, the guy throws strikes and misses bats.