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.

Zack Wheeler headed to IL due to shoulder fatigue

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Mets pitcher Zack Wheeler will be placed on the 10-day injured list due to fatigue in his right shoulder, Newsday’s Tim Healey reports. The roster move is retroactive to July 12. Steven Matz will open up a two-game series in Minnesota, starting in Wheeler’s place on Tuesday.

As Healey notes, the soonest Wheeler can return is July 23, which would give him at most two starts ahead of the July 31 trade deadline. Wheeler has frequently been brought up in trade conversations as he can become a free agent after the season and the 42-51 Mets have been freefalling.

Wheeler, 29, owns a 4.69 ERA with 130 strikeouts and 34 walks across 119 innings of work this season.