"The Cubs and free-agent reliever Kerry Wood are re-engaged in negotiations, and major-league sources say the sides are nearing a one-year deal with an option for 2013.

Wood, 34, resides in Chicago and has previously indicated that he would prefer to remain with the Cubs — where he has spent 11 of his 13 big-league seasons. It appears that he will get his wish, even though the Cubs are entering a true rebuild for the first time in years."