The Astros, Phillies and Angels also had been pursuing Soriano.
The Cubs have pursued free-agent center fielder Gary Matthews and pondered the notion of signing free-agent infielder Julio Lugo to play center. Both are leadoff hitters.
Soriano’s deal would be the fifth-largest total package given to a major league player, behind Alex Rodriguez ($252 million for 10 years), Derek Jeter ($189 million for 10 years), Manny Ramirez ($160 for eight years) and Todd Helton ($141.5 million for 11 years).
Soriano, who could play center field and give the Cubs a leadoff hitter with a combination of speed and power, had 46 homers and 41 stolen bases last season with the Washington Nationals. He batted .277, had 95 RBI and had 41 doubles.