"Time is running out on Francisco Cordero.

"I expect to have it resolved one way or another this week," Walt Jocketty said.

The Reds are trying to work out a one-year deal to bring back Cordero as closer. Since the deal would involve the last big chunk of payroll, the Reds would like to get it done so they know what they have left for fill other needs.

"We gave them a soft deadline," Jocketty said. "Sometimes giving a hard deadline doesn't work out too well."

If the Reds fail to sign Cordero, they are likely to make a move for Kerry Wood. Wood reportedly is no longer part of the Cubs' plans."