MESA, Ariz. -- Chicago Cubs general manager Jim Hendry and the agent for closer Carlos Marmol expect to have a deal in place by Monday, a day before the two sides were scheduled to go to arbitration.

Hendry and Barry Praver met at Hendry's office at Fitch Park on Sunday morning. When he emerged from the meeting, Hendry was confident that a deal was near.

"We've done a lot of deals with Barry Praver," Hendry said. "We've been working on avenues of a multiyear deal or a one-year deal. I certainly don't have any anticipation that something won't be done before the arbitration hearing date which is Tuesday."

As Praver left the Cubs complex on Sunday he told the media: "We expect to have something done by Monday."

Marmol is seeking $5.65 million while the Cubs offered $4.1 million.

In terms of a multiyear deal, multiple sources said the Cubs favor a three-year contract. In that scenario, Marmol would be signed through 2013, which would be his first year of free agency. The likely settling point on a multiyear deal would be somewhere between $20-22 million for three years.

Marmol made $2.25 million in 2010, his first year of arbitration. He set a record for strikeouts by a Cubs reliever last season with 138. He also posted 38 saves and a 2.55 ERA.

Bruce Levine covers the Cubs for ESPNChicago.com and ESPN 1000.