UPDATE: Cubs "likely" to trade Ted Lilly and Ryan Theriot to Dodgers

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UPDATE: Stark reports that the Cubs are “likely” to send Ted Lilly and Ryan Theriot to the Dodgers. We already know that the Yankees are out, so it sounds like this could get done.

1:06 AM: Jayson Stark of ESPN.com provides an update on Buster Olney’s report, saying that it’s unlikely the Dodgers and Cubs will reach an agreement on Ted Lilly tonight, however a source tells him that they are moving in a “positive” direction.

11:51 PM, Friday: According to Buster Olney of ESPN.com, the Dodgers are “closing in” on a trade for Cubs left-hander Ted Lilly.

Lilly is 3-8 with a 3.69 ERA and 1.14 WHIP over 18 starts this season. He is owed approximately $4.3 million for the rest of this season, so you’d have to assume the Cubs would throw some money in.

Just a little while ago, Tony Jackson of ESPNLosAngeles.com reported that the Dodgers were weighing a deal for just Lilly and another that includes infielder Ryan Theriot.

Dodgers acquire Manny Machado from Orioles for five minor leaguers

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The Orioles and Dodgers finally completed the trade involving Manny Machado, ESPN’s Jerry Crasnick reports. The Orioles will receive five prospects from the Dodgers: Yusniel Diaz, Dean Kremer, Zach Pop, Rylan Bannon, and Breyvic Valera.

Machado, 26, is in the final year of his contract, so this is currently a rental for the first-place Dodgers. Machado ended the first half batting .315/.387/.575 with 24 home runs, 65 RBI, 48 runs scored, and eight stolen bases in 413 plate appearances. In Los Angeles, he will handle shortstop, allowing Chris Taylor to move over to second base.

MLB Pipeline rated Diaz as the Dodgers’ No. 4 prospect and No. 84 across baseball. Kremer was No. 27 in the Dodgers’ system and Bannon was No. 28.

Diaz, 21, is considered the centerpiece of the trade. The outfielder hit .314/.428/.477 with 20 extra-base hits, 30 RBI, and 36 runs scored in 264 plate appearances at Double-A Tulsa this season.

Kremer, 22, was selected by the Dodgers in the 14th round of the 2016 draft. He spent most of his season with High-A Rancho Cucamonga before earning a promotion to Tulsa earlier this month. Overall, in 17 starts, the right-hander posted a 3.03 ERA with a 125/29 K/BB ratio in 86 innings.

Pop, 21, was selected by the Dodgers in the seventh round of the 2017 draft. He has spent his season between Rancho Cucamonga and Single-A Great Lakes. Overall, he compiled a 1.04 ERA with 47 strikeouts and 13 walks in 43 1/3 innings of relief.

Bannon, 22, was selected by the Dodgers in the eighth round of the 2017 draft. With Rancho Cucamonga this season, the infielder batted .296/.402/.559 with 20 home runs and 61 RBI in 403 PA.

Valera, 26, has appeared in 20 games at the major league level for the Dodgers this season, batting a meager .172 with a .445 OPS in 34 PA. Valera has versatility, having played second base, third base, and corner outfield this year while also having experience in center field, shortstop, and first base.