FOX Sports' Ken Rosenthal reports that the Angels will pay at least $32 million of the $42 million owed to Vernon Wells in their trade with the Yankees.

The deal still isn't done, but it looks like the Yankees will have to pay Wellls somewhere around $10 million over two years, which is still expensive for a fourth outfielder. Wells has already waived his no-trade clause and the Los Angeles Times reported that his nameplate has been removed from his locker. A deal should be finalized by Monday.

Vernon Wells has approved a trade to the Yankees.

Jeff Passan of Yahoo! Sports reports that the Yankees are in trade talks with the Angels regarding Vernon Wells and a deal "could be done today."

Vernon Wells plans to retire when his contract expires after the 2014 season.

Wells will "only" turn 36 that winter, but he thinks it will be time to devote more to his family at that point. He'll also have made close to $150 million over the course of his career, so he obviously won't need to take another job for the money. Wells, who batted just .230/.279/.403 in 2012, is interested in possibly owning a team eventually, perhaps with friend Torii Hunter.

CBS Sports' Danny Knobler reports that the Angels are unlikely to trade outfielder Vernon Wells.

Knobler hears that the Angels pursued trades in the weeks after signing Josh Hamilton, but that owner Arte Moreno wasn't willing to pay a substantial portion of the two years and $42 million left on Wells' contract. Unless Moreno caves, Wells will continue to be a ridiculously overpaid bench player for the Angels.

CBS Sports' Jon Heyman reports that Vernon Wells is "on the Phillies' shopping list."

Heyman also notes that they're interested in Cody Ross in their quest for a right-handed hitting outfielder, but this is the first we've heard of them being a potential player for Wells. Obviously, the Angels would have to eat most of the $42 million owed to Wells over the next two years for a deal to go down. Wells batted just .230/.279/.403 for the Halos this past season after hitting .218/.248/.412 in 2011.

Jon Heyman of CBSSports.com reports that the Angels would have to eat "almost all" of Vernon Wells' contract in a trade with the Yankees.

FOX Sports' Ken Rosenthal reported Saturday that the Yanks might have interest in the veteran outfielder, but Heyman says a deal isn't close to going down. The Angels are fully aware that they'll have to pick up most of the $42 million owed to Wells in order to move him, and the outfielder's no-trade clause is another stumbling block. Wells batted just .230/.279/.403 for the Halos this past season after hitting .218/.248/.412 in 2011.

Ken Rosenthal of FOX Sports reports that the Yankees could have interest in acquiring Angels outfielder Vernon Wells.

The two sides discussed the veteran outfielder at the Winter Meetings, and would fill the Bombers need for a powerful right-handed bat in the outfield. Wells is owed $42 million over the final two years of his contract, and the Halos would have to assume most of that cost in order to deal him. Wells also holds a no-trade clause and would have to approve of trade.

According to FOX Sports' Ken Rosenthal, the Angels are "actively trying to move" outfielder Vernon Wells.

It's going to be a tough task. Wells hit just .230/.279/.403 with 11 home runs and 29 RBI in 77 games this past season for Anaheim and is owed a whopping $42 million over the next two years. He also has a full no-trade clause.

Vernon Wells (personal) is expected to rejoin the Angels on Saturday.

Wells missed the last two games while attending to a family emergency. Look for him to start in left field Saturday if Kendrys Morales (ribs) isn't available.

Vernon Wells smashed a two-run homer in a losing effort against the Athletics on Tuesday.

The second-inning blast off Daniel Straily was Wells' only hit in four trips to the plate. He's actually been a serviceable player for the Angels as of late, hitting .281 (9-for-32) with four homers and nine RBI over his past 12 games.

Vernon Wells went 2-for-2 with a homer, two walks and a steal against the A's on Monday.

Wells is mostly playing against lefties right now, but he's showing nice pop when he gets in there. In 44 at-bats since the beginning of August, he's hitting .250 with four homers and 12 RBI.

Vernon Wells had two hits, including a solo home run, but the Angels fell to the Tigers in Detroit on Saturday.

Wells finished the evening 2-for-4. His solo shot off Drew Smyly got the Angels on the board in the third inning, and was his second blast in his last three games. Since returning from the disabled list on August 4, Wells is hitting .243 (9-for-37) with three homers and 10 RBI in 14 games.

Vernon Wells led the Angels offense with a homer and three RBI in a wild extra-inning 14-13 victory over the Red Sox on Thursday.

Wells finished the evening 2-for-5 with a homer, double, two runs scored and three RBI. After falling behind 6-0 after two innings, Wells drew a bases loaded walk as part of a eight-run third inning to put the Halos back on top. He added a critical solo homer off Alfredo Aceves to start the ninth inning, starting a three-run rally to re-take the lead. He wasn't finished yet though, as Wells added an RBI double in the 10th inning that proved to be the winning run in the game. While he's overpaid and has been a major disappointment thus far, Wells could be mixed-league relevant if given daily at-bats over the remainder of the season.

Vernon Wells went 3-for-3 with a two-run homer and three RBI against the Mariners on Saturday.

Wells' first three-hit game since July 22, 2011 against the Orioles. It was just his second start in August after he went 0-for-11 in his first three games back from the disabled list last month. Contract or no, he's going to have to hit if he wants to play.

Vernon Wells (thumb) is scheduled to take early batting practice Friday.

Wells wrapped up his minor league rehab assignment with Triple-A Salt Lake on Thursday night. It's not clear if the Angels will officially activate him on Friday or wait until Saturday.

Vernon Wells (thumb) wrote on his Twitter account that Thursday will be his final game with Triple-A Salt Lake.

We're guessing this means he could be activated from the disabled list for Friday's series opener against the Rays. Wells, who has been out for two months following thumb surgery, is hitting .348 (8-for-23) with two homers and one double over six games in Triple-A. The veteran outfielder will have to settle for a part-time role upon his return.

Vernon Wells (thumb) went 1-for-4 as the designated hitter on Monday in his latest rehab game with Triple-A Salt Lake.

Wells is now 6-for-15 (.400) with a homer, a double and three stolen bases over his first four rehab games. He could rejoin the Angels by the end of the week. The veteran outfielder has been sidelined for two months following thumb surgery.

Vernon Wells (thumb) finished 2-for-4 with a home run Sunday in a rehab game at Triple-A Salt Lake.

Wells also stole a base. He's now 5-for-11 in three rehab games with the Salt Lake Bees and seems likely to be activated from the disabled list by the end of this week.

Vernon Wells (thumb) is on track to begin a minor league rehab assignment Friday with Triple-A Salt Lake.

That's assuming he doesn't suffer any setbacks with his surgically-repaired thumb over the next three days. Wells is expected to need seven to ten games in the minors, which places his return before the end of the month. He is likely to return in a part-time role.