Update: Conflicting reports on Cubs signing RHP Anibal Sanchez

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UPDATE: Bob Nightengale of USA Today is now reporting Anibal Sanchez has agreed to a five-year contract with the Cubs, citing an official with direct knowledge of the negotiations told USA TODAY Sports. The person spoke on condition of anonymity because the deal has not been announced.

In the aftermath of the Angels signing Josh Hamilton and the Red Sox signing Ryan Dempster, conflicting reports emerged on the destination of Sanchez.

The Cubs have signed Sanchez to a five-year deal according to a report from Bob Nightengale of USA Today via Twitter.

An earlier tweet from Fox Sports' Ken Rosenthal said the Cubs' deal could be worth $75 million.

Jon Heyman of CBSSports.com quickly contradicted those tweets, reporting Sanchez's agent was still talking to several teams, including the Tigers.

Sanchez, 28, was 9-13 with a 3.86 ERA, 1.27 WHIP and 167 strikeouts in 195 2/3 innings last season for the Marlins and Tigers. A late-season surge and strong postseason elevated Sanchez's value in the free agent market. In his last eight regular-season starts, he produced a 2.15 ERA and 0.98 WHIP. In three postseason starts, Sanchez produced a 1.77 ERA, 0.98 WHIP and 18 strikeouts in 20 1/3 innings.