Report: Anibal Sanchez will not sign with Cubs

UPDATE 2: According to Jon Heyman, the Cubs are out on Sanchez, leaving the Tigers in position to sign the right-hander.
UPDATE: The Cubs have increased their offer for Sanchez to $77.5 million, while the Tigers have offered $75 million over five years, according to Ken Rosenthal.
Breaking: The Chicago #Cubs have just signed Anibal Sanchez.
— Bob Nightengale (@BNightengale) December 13, 2012
According to Bob Nightengale of USA Today, the Chicago Cubs have signed right-handed pitcher Anibal Sanchez to a 5-year deal. Ken Rosenthal reports that the deal could be worth $75 Million over 5 years.
The 28-year old starter was 9-13 with a 3.86 ERA and 167 K's in 195 innings split between the Miami Marlins and Detroit Tigers.
More information as it breaks at Getting Blanked
