After being non-tendered by the Philadelphia Phillies, Nate Schierholtz found himself as one of the most sought after free agents. The corner outfielder used his leverage to sign a one-year, $2.25 million contract from the Chicago Cubs, as first reported by Jerry Crasnick of ESPN. Schierholtz can earn an additional $500,000 with performance bonuses, Crasnick adds.

Schierholtz looks to be the everyday right fielder for the Cubs in 2013, so the one-year deal gives him a chance to re-set his market value after finally earning the consistent playing time he's been seeking the past few seasons. He choose to go the one-and-done route over taking a two-year deal in the $5 million range, as reported by Jon Heyman of CBS Sports.

At 28 years old, Schierholtz batted .257/.321/.407 in 269 plate appearances with the San Francisco Giants and Philadelphia Phillies last season.

Several other teams were also in the Schierholtz sweepstakes, reports Crasnick, including the Rays, Orioles, Yankees, Mets and Red Sox. Of those teams, the Yankees come out as the biggest losers, and will need to look elsewhere for outfield help. Ichiro Suzuki makes a lot more sense for the team now.