Cubs and Reds agree to Sean Marshall-for-Travis Wood swap

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Last night Bruce Levine of ESPN Chicago broke the news that the Cubs and Reds were working on a trade involving Sean Marshall and Travis Wood, and now he’s reporting that the two sides have agreed to a deal “in principle.”

According to Levine the Cubs will send Marshall to the Reds for Wood and two undisclosed prospects.

Wood became more expendable after the Reds gave up a ton to get Mat Latos from the Padres and Ken Rosenthal of FOXSports.com wrote yesterday that Cubs president Theo Epstein had his eye on the left-hander since his days with the Red Sox.

Wood is 24 years old, cheap, under team control through 2016, and projects as a mid-rotation starter, but Marshall has been one of the league’s top setup men since moving to the bullpen full time in 2010, throwing 150 innings with a 2.45 ERA and 169/42 K/BB ratio. He certainly has the ability to close, but it’s unclear if the Reds will ask him to take over ninth-inning duties for free agent Francisco Cordero.