CSNChicago.com's David Kaplan heard from a source that Kerry Wood's days as a Cub are "all but over."

"Woody wanted to be here despite the rebuilding process," said the source, "but while the Cubs were saying they wanted him back they were unwilling to pay him the market value for a solid set up man." The 34-year-old right-hander has drawn interest from several other teams, and should have no trouble finding a decent contract. He posted a high quality 3.35 ERA and 57/21 K/BB ratio over 51 innings last year for Chicago.

Jerry Crasnick of ESPN.com reports that the Phillies are interested in free agent reliever Kerry Wood.

That's assuming, of course, he doesn't re-sign with the Cubs, which still seems likely but evidently is no longer a given. Crasnick says the Phillies' interest could depend on the status of Jose Contreras, who had season-ending elbow surgery in August. Wood, 34, posted a 3.35 ERA and 57/21 K/BB ratio over 51 innings last season and would make a fine setup man for Jonathan Papelbon.

Jerry Crasnick of ESPN.com was told by a baseball source that Kerry Wood is still talking with multiple clubs and a deal with the Cubs is "far from done."

Nick Cafardo of the Boston Globe reported Friday afternoon that the two sides were close to a deal. Crasnick hears otherwise, but we still think it's inevitable they'll eventually come to terms. Wood, 34, posted a 3.35 ERA and 57/21 K/BB ratio over 51 innings last season. He's reportedly looking for a raise from the $1.5 million salary he earned in 2011.

Nick Cafardo of the Boston Globe reports that the Cubs are close to re-signing Kerry Wood to a one-year deal.

It was inevitable that the two sides would eventually work something out, as Wood doesn't want to pitch anywhere else. He wants a raise from the club-friendly $1.5 million deal he pitched under last season, but he'll still probably wind up taking a little less than he could have earned on the open market. The 34-year-old posted a 3.35 ERA and 57/21 K/BB ratio over 51 innings in 2011.

During an appearance Wednesday on WGN radio in Chicago, Cubs general manager Theo Epstein indicated that he would be disappointed if the club wasn't able to re-sign Kerry Wood.

"Kerry Wood is the type of pitcher we want to have to help us build a winning culture," said Epstein. "If we don't get him signed, shame on us." Wood gave the Cubs a discount last offseason when he signed a team-friendly $1.5 million contract, but the 34-year-old right-hander wants a raise after posting a 3.35 ERA and 57/21 K/BB ratio over 51 innings in 2011.

Jon Paul Morosi of FOXSports.com reports that Kerry Wood wants to pitch for the Cubs again in 2012 but would like a raise.

Wood gave the Cubs a discount last offseason when he signed for $1.5 million, so it's only natural for him to want more after he showed he still has plenty left in the tank (3.35 ERA and 57/21 K/BB ratio over 51 innings). Expect the two sides to figure something out.

The Cubs did not offer arbitration to Kerry Wood.

Wood re-signing with the Cubs is viewed as a mere formality, so the club evidently didn't feel the need to offer him arbitration and net a supplemental draft pick should he change his mind and go elsewhere. The 34-year-old right-hander posted a 3.35 ERA and 57/21 K/BB ratio over 51 innings this past season.

The Cubs have held preliminary talks with free agent Kerry Wood.

Wood took a pay cut to return to the Cubs last season though it is not yet known whether he would be willing to re-sign at his previous $1.5 million salary. The 34-year-old right-hander posted a 3.35 ERA and 57/21 K/BB ratio over 51 innings this year. He is expected to rejoin the Cubs on a team-friendly contract.

Kerry Wood reiterated Thursday that he's hoping to return to the Cubs for the 2012 season.

"I expect to be back and be a part of the organization and help us go in the right direction," said the veteran right-hander. Wood took a pay cut to return to the Cubs last winter, signing for just one year at $1.5 million. It's not yet known if he will be open to another similar salary.

During an appearance on the "The Waddle & Silvy Show" on ESPN 1000 on Wednesday, Kerry Wood said he would like to return to the Cubs next season.

"I've got to go out and pitch and get guys out, so if I'm doing that we can talk in the offseason about what I want to do as far as next year is concerned and make a decision," said Wood. "But hopefully Chicago would like to have me back." Wood, 34, has a 3.24 ERA and 48/18 K/BB ratio over 41 2/3 innings this season. It will be interesting to see if he is willing to take another team-friendly contract. He is making $1.5 million in 2011.

Kerry Wood pitched a scoreless ninth inning Monday to notch his first save of the season.

Carlos Marmol had pitched five of the previous six days, so he was due for a day off. Wood entered the game with a Cubs record-tying eight consecutive strikeouts. But Houston Jason Michaels flew out to start the inning. Wood fanned the next two batters to lock down Chicago's win.

Kerry Wood fanned both batters he faced on Thursday, tying a Cubs record with eight consecutive strikeouts.

Wood has fared pretty well in his return to Chicago this season, so far compiling a 3.62 ERA, 1.37 WHIP, and more than one strikeout per inning. His bid for the team record -- and potential major league record-breaking territory -- should come sometime this weekend against the Braves.

Kerry Wood returned to action on Wednesday July 27.

Kerry Wood is not with the Cubs in Milwaukee due to a case of the flu.

Wood, who was unavailable Sunday due to a "cranky arm," is being treated by team doctors in Chicago. He'll likely rejoin the team in the next couple of days.

Kerry Wood was held out of Sunday's series finale with the Astros due to a "cranky arm."

Wood is only battling a bit of soreness and should resume his setup role early this week. "He wants to come out and pitch well and feel like he's good to go and can help the team win," Cubs manager Mike Quade said. "I think as the day started, he didn't feel that confident in how he felt arm-wise. We're all getting older."

Jon Heyman of SI.com hears that Kerry Wood will not approve a trade from the Cubs.

Wood, 34, has a full no-trade clause and just launched a foundation to benefit children's charities in the Chicago area. According to Heyman, it's more likely that he re-signs with the Cubs.

Ken Rosenthal and Jon Paul Morosi of FOX Sports.com report that the Diamondbacks have targeted the Cubs' Kerry Wood in their pursuit of relief pitching.

Although Wood might be their top choice, he would prefer to remain in Chicago, so he might not be a legitimate option. They have also discussed the Nationals' Todd Coffey, the Mets' Jason Isringhausen and the Blue Jays' Jason Frasor. A starter such as Jason Marquis could also be of interest.

Cubs activated RHP Kerry Wood from the 15-day disabled list.

Wood hasn't appeared in a game since early June due to a blister on his right index finger. He's expected to be involved in trade rumors around the deadline but appears likely to remain in Chicago. The owner of a 2.25 ERA and 7.9 K/9 rate, Wood will resume his setup duties in front of closer Carlos Marmol.

During an appearance on the "The Waddle & Silvy Show" on ESPN 1000 in Chicago on Thursday, Kerry Wood indicated that he would prefer to stay with the Cubs past the trade deadline.

"At this point, it's here or nowhere," said Wood. "I don't have a desire to go travel around the country any more and do all that and be away from the family." Wood, 34, is making just $1.5 million guaranteed this season, but he does have a full no-trade clause in his contract. He won't leave unless it's the perfect situation.

Kerry Wood (blister) said Thursday that he will be activated from the disabled list for Friday's series opener against the White Sox.

Wood threw 15 pitches in live batting practice Wednesday without any issues, so the Cubs don't think a minor league rehab assignment is necessary. The veteran right-hander has been sidelined since June 13 with a blister on his right index finger.