The Chicago Cubs have confirmed signing Closer Carlos Marmol to a new three-year contract. The contract is worth $20 million, and Marmol will have a salary of $3.2 million this season, $7 million in 2012 and $9.8 million in 2013.

The deal was first reported by Ken Rosenthal, of FOX Sports, on his Twitter account.

Marmol recorded 38 saves last season and had a 2.55 ERA, with 138 strike outs and a 1.18 WHIP in 77.2 innings pitched.

His 38 saves tied for third-highest in franchise history, as he finished the season by converting his final 17 save opportunities (dating to August 21) with an 18.2 scoreless inning streak (dating to August 25). His .147 batting average against tied for the second-lowest mark among all big league relievers. Marmol also allowed only one home run in 77.2 innings pitched, an average of 0.12 home runs per 9.0 innings.

Marmol took over as the club’s closer August 18, 2009 and has since successfully converted 49 of 54 save opportunities, a 91 percent success rate.

The native of Banao, Dominican Republic was originally signed by the Cubs as a non-drafted free agent on July 3, 1999 as a catcher/outfielder and was converted to a pitcher during the 2002 campaign.

A Chicago Cubs press release and the Associated Press contributed to this report.

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