After a few days of speculation, the Yankees and Cubs are close to an agreement to send ex-Yankee Alfonso Soriano to the Bronx. Soriano was pulled from tonight's Cubs lineup, and manager Dale Sveum said it was due to an impending deal with the Yankees.
Soriano continues to be an up and down player, who's still unable to take a walk, but the Yankees are desperate for right-handed power. Soriano has a .254/.287/.467 slash this year and a 100 wRC+, but he was all the way up to a 116 wRC+ in 2012. He should be able to hit 10 or so more homeruns over the next two months, and that would be huge for the current lineup.
Word is that the deal is 99% done, but no word on who's headed to Chicago or the money involved. Keep in mind that Soriano is owed $18 million this year and next year.
Update: (7:51 PM) Buster Olney says that the Cubs will receive a lower-tier pitching prospect if the trade is completed. No one has been pulled from any minor league games yet.
Update: (7:54 PM) Buster Olney also says that the Cubs will eat a bulk of his contract, about $25 million. That makes sense, since the team is aiming for a $189 million budget next season.
Update: (8:05 PM) Buster Olney again, this time he says that the Cubs have been limited by trades due to Soriano's no trade clause. They're happy to finally have salary relief. Should mean less value given up by Yankees.
Update: (9:05 AM) According to Jim Bowden, the deal is done.