He also lost 2.5 MPH off his peak two years ago and has dropped 1 MPH plus each of the last two seasons. He’s an extremely risky signing and should have taken the Cubs offer.
I do not believe that the Cubs gave him a viable offer. They know him best and likely could have signed him what what they gave Darvish. I think they floated the rumor that they made him a perfunctory offer to 1) Help him out so it didn't torpedo his chances of getting signed elsewhere and 2) Convince a competitor to overpay for him.
As you mentioned the fact that he is losing velocity is very concerning.
