• Athletics first-round selection Addison Russell tops Baseball America's list of the 20 best prospects from the rookie-level Arizona League. The A's selected the high school shortstop 11th overall, and he hit .415/.488/.717 in 26 games in the Arizona League before being promoted to Class A ball.
• Cody Ross has been a bargain acquisition in the past, but he’s likely headed for a raise as a free agent following a strong offensive showing with the Red Sox, Alex Speier of WEEI.com writes. As Speier explains, Ross has been traded for next to nothing in the past.
• Kerry Wood will work with the Cubs next year, likely as an on-field instructor, Toni Ginnetti of the Chicago Sun-Times reports. Wood, who retired in May, said he hopes to have some kind of role in uniform with the Cubs, ideally alongside some of his former teammates.
• The Rockies will enter the 2013 season with questions related to Todd Helton, Drew Pomeranz, Jim Tracy and others, Patrick Saunders of the Denver Post writes. The Rockies want to bring Jeff Francis back when he hits free agency this offseason, according to Saunders.

Wood debuted with the 1998 Cubs and it didn't take long for him to make an impression. He struck out 233 hitters in 166 2/3 innings as a rookie, including a record 20 strikeouts in one game against the Astros. After being named the NL's 1998 Rookie of the Year, Wood missed his sophomore season to undergo Tommy John surgery. He returned to the rotation in 2000 and started effectively for five seasons, but had trouble staying healthy and transitioned to the bullpen, where he pitched exclusively from 2007-12.

Wood signed a one-year, $3MM contract with the Cubs this offseason, but struggled through nine appearances, allowing nearly one earned run per inning with twice as many walks (11) as strikeouts (5). Wood's contract included a $3MM club option for 2013 which will no longer be in play for GM Jed Hoyer.

The two-time All-Star will retire with a 3.67 ERA, and 86-75 record, 1379 2/3 innings pitched and 1581 strikeouts. Wood, the fourth overall selection in the 1995 draft, earned more than $70MM in his career, according to Baseball-Reference. He is a client of SFX.

Photo courtesy of US Presswire.

• Before re-signing with the Cubs, Kerry Wood agreed to a deal with another club and was preparing for his physical when the Cubs swooped in according to Bruce Levine of ESPN Chicago. Levine hears that the Reds were most interested in Wood before he re-signed with Chicago, but it's unclear if they're the team he had the agreement with.
• As many as eight teams have inquired about Alfonso Soriano, reports Levine. Most of those clubs are American League teams. Levine says Cubs chairman Tom Ricketts reiterated that he'll to eat most of the money owed to Soriano to facilitate a trade.
• Marc Carig of The Star Ledger wonders if the Michael Pineda trade is a sign of things to come for the Yankees, who could opt to trade for pitching in the future rather than sign free agent arms to long-term deals.
• "All I can do is worry about getting healthy and being a part of this team next year," said Rangers first baseman Mitch Moreland to FOXSportsSouthwest.com's Anthony Andro when asked about the Prince Fielder rumors (Twitter link).
• “Our minor-league system is in the bottom ten-percent in the industry in terms of signing players at the amateur level and developing them for the big leagues," said Orioles GM Dan Duquette to Rich Dubroff of CSNBaltimore.com. "That’s what needs to improve over the next couple of years.”
• The Orioles have signed utility man Peter Fatse away from the independent Newark Bears, reports Roch Kubatko of MASNSports.com. The 24-year-old spent two seasons in the Brewers' farm system before hitting .279/.348/.418 with five homers in 284 plate appearances for Newark last season.

Wood's return to Chicago was considered a foregone conclusion but negotiations hit a snag earlier this week, which drew the Phillies and Reds into the Wood market.  Things appeared to clear up by Wednesday, however, when FOX Sports' Jon Paul Morosi reported the two sides were close on a one-year deal with an option for 2013.

Wood posted a 3.35 ERA, 10.1 K/9, 3.7 BB/9, 0.88 HR/9, and 35.8% groundball rate in 51 innings for the Cubs last year.  He missed time with a blister, and also saw his season end about a week early due to a torn meniscus in his left knee.  With Carlos Marmol tying for the MLB lead with 10 blown saves last year and Sean Marshall now with the Reds, Wood will be next in line to close for the Cubs if Marmol falters.

MLBTR's Tim Dierkes contributed to this post

• An extra wild card team is far from a sure thing for 2012, tweets ESPN's Jayson Stark, as "big scheduling obstacles remain" to be worked out before baseball can expand its playoffs for this fall.
• Tony La Russa has been "informally offered" Joe Torre's old job as MLB's executive vice president for baseball operations, reports USA Today's Bob Nightengale (via Twitter).  La Russa has given no indication that he is interested in the job. 
• Magglio Ordonez intends to play in 2012, Jon Paul Morosi of FOX Sports reports. The free agent outfielder is making progress in his recovery from right ankle surgery.
• Kerry Wood said on the Waddle & Silvy Show on ESPN 1000 that there's "nothing new" to report on his near-deal with the Cubs.
• Dan Johnson, the unlikely hero of the Rays’ exhilarating comeback in the final game of the regular season, tells Joe Christensen of the Minneapolis Star-Tribune that he’s still looking for a job.
• Dodgers scout Carl Loewnstine continues working as he battles bone cancer, Bob Nightengale of USA Today writes. Loewnstine will be honored this weekend at a banquet benefiting the Professional Baseball Scouts Foundation in California.
• Red Sox GM Ben Cherington and David Laurila of FanGraphs discussed the role of information in the decision making process of an MLB front office.
• The Red Sox don’t expect to offer guaranteed deals to free agent pitchers, Jon Heyman of CBSSports.com tweets. The asking price for Hiroki Kuroda and Roy Oswalt is dropping, but those pitchers aren’t likely to sign in Boston, Heyman writes.

• The Reds’ one-year, $8.5MM contract with Ryan Madson is “perhaps the deal of the offseason so far,” ESPN.com’s Keith Law writes. Law says the Phillies seem like losers and that their four-year, $50MM deal with Jonathan Papelbon “looks absolutely comical.”
• The Cubs, who appear to be nearing a deal with Kerry Wood, reached out to the right-hander last night and stepped up their offer, David Kaplan of CSNChicago.com tweets. The Tigers and Phillies are fallback options for Wood, Kaplan notes.
• Cardinals pitching prospect Shelby Miller told Casey Stern and Jim Bowden on MLB Network Radio that he's looking to pitch well in Spring Training and make it difficult for the team to keep him off of the MLB roster.

Wood, 34, was drafted fourth overall in 1995 by the Cubs and stayed in the organization through the 2008 season.  Injuries pushed the hard-throwing Texan to a relief role, and he spent the 2009-10 seasons with the Indians and Yankees.  Wood returned to the Cubs for the 2011 season on a below-market deal with a $1.5MM base salary.  It was suggested he sought a salary closer to market value this time around, and yesterday Cubs GM Jed Hoyer said the team offered Wood a substantial raise.

Wood posted a 3.35 ERA, 10.1 K/9, 3.7 BB/9, 0.88 HR/9, and 35.8% groundball rate in 51 innings for the Cubs last year.  He missed time with a blister, and also saw his season end about a week early due to a torn meniscus in his left knee.  With Carlos Marmol tying for the MLB lead with 10 blown saves last year and Sean Marshall now with the Reds, Wood will be next in line to close for the Cubs if Marmol falters.

The Cubs maintain interest in re-signing Wood, who pitched for $1.5MM last year. They’ve offered the 34-year-old a substantial raise, GM Jed Hoyer said today. Wood posted a 3.35 ERA with 10.1 K/9, 3.7 BB/9 and a 35.8% ground ball rate in 51 innings for the Cubs in 2011 and has also drawn interest from the Phillies.

The Reds have maintained interest in re-signing Cordero throughout the offseason. The 36-year-old posted a 2.45 ERA with 5.4 K/9, 2.8 BB/9 and a 50% ground ball rate in 69 2/3 innings for Cincinnati this past season and has drawn interest from other clubs, including the Angels.

9:34am: Kerry Wood's "days as a Cub appear all but over," writes Dave Kaplan of CSNChicago.com after talking to a source with knowledge of the reliever's negotiations with the team.  Kaplan quotes his source:

"Woody wanted to be here despite the rebuilding process 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.  He has heard from a number of teams that are World Series contenders and they are all willing to pay him a very fair salary to strengthen their bullpen. The Cubs expected him to pitch for another hometown discount. He has already done that for them a couple of times before. There is no reason that he should have to do that again."

Wood told Kaplan last night on WGN Sports Radio that his family plans on staying in the Chicago area for a long time whether or not he finishes his career with the Cubs.  Last week Cubs president Theo Epstein said he was "actively involved in negotations" to bring Wood back, noting, "I think this one should work out."  If Epstein and Wood fail to find common ground, Kaplan says the Tigers, Phillies, Reds, Angels, and others are interested.

6:08pm: The Cubs and Phillies have expressed the strongest interest in signing Wood, according to Jon Paul Morosi of FOXSports.com.

1:50pm: Late last week Kerry Wood appeared to be working toward a one-year deal to return to the Cubs, but we soon heard that it was far from done and that Wood is still in talks with several teams about a 2012 contract. The Phillies could be one of those teams based on these two tweets from ESPN's Jerry Crasnick, who reports that Philadelphia has Wood on their radar but their interest could be contingent on the health of Jose Contreras.

The 40-year-old Contreras had season-ending elbow surgery in August after appearing in just 17 games (14 innings of work) for the Phils last season. He compiled a 3.86 ERA and 8.4 K/9 but struggled with his control, walking eight and hitting a batter in those 14 innings. Wood, on the other hand, whiffed 10.1 per nine over 51 innings of 3.35 ERA ball with the Cubs, with a more reasonable 3.7 BB/9.

The Phillies lost Ryan Madson and Brad Lidge both to free agency this winter. They pounced early to replace Madson by signing Jonathan Papelbon. Wood would represent an affordable option to set-up for Papelbon. As Crasnick notes in a final tweet, the allure of playing for a contender may have more appeal than the Cubs' rebuilding philosophy under the new front office headed by Theo Epstein and Jed Hoyer.

12:29pm: The Cubs and free agent reliever Kerry Wood are making progress on a one-year, Nick Cafardo of the Boston Globe tweets. The Cubs and the SFX client have not completed a deal, however.

President of baseball operations Theo Epstein recently said he'd be greatly disappointed if the Cubs don't re-sign Wood. The right-hander signed a below-market $1.5MM deal last offseason but is said to want a market value deal this winter. Wood posted a 3.35 ERA with 10.1 K/9, 3.7 BB/9 and a 35.8% ground ball rate in 51 innings for the Cubs in 2011. He's 34, but remains a flamethrower; his average fastball checked in at 94.4 mph last year.

• Epstein said Matt Garza is a “top of the rotation type” starter. In general, players like Garza can become long-term assets by signing extensions or becoming trade chips, Epstein said. David Kaplan of CSNChicago.com hears that the Cubs continue asking "for [the] moon" in trade talks about Garza (Twitter link).
• Rules limiting amateur spending in the new collective bargaining agreement won’t necessarily slow the Cubs down. "It just means we have to be better and more accurate with our drafting than the competition," Epstein said.
• Epstein said he'd be greatly disappointed if the Cubs don't re-sign Kerry Wood. Wood signed a below-market $1.5MM deal last offseason but is said to want a market value deal this winter.
• The Cubs expect to start Bryan LaHair at first base. The 29-year-old posted a .331/.405/.664 line with 38 home runs at Triple-A in 2011. He also posted an .885 OPS in 69 plate appearances with the big league club.
• Epstein addressed Zambrano, saying "change needs to happen and change will happen." Not long after the interview, the Cubs agreed to send the right-hander to Miami.
• Epstein explained that some disappointing players can recover from poor seasons to produce again. "It's a game played by human beings and the ability to bounce back is very real," Epstein said.
• The Cubs value Sean Marshall, but felt it made sense to trade him for players who can contribute beyond 2012 (Travis Wood and two prospects), especially since Marshall isn't likely to be tied to draft pick compensation next offseason.
• The Cubs are "very committed" to Carlos Marmol as their closer.

• The Twins are considering Jeff Francis and Joel Pineiro, reports Jon Paul Morosi of FOX Sports (on Twitter). Morosi says Jon Garland is an option as well if he checks out medically after missing most of last season due to shoulder surgery.
• Paul Sullivan of The Chicago Tribune says Kerry Wood's return to the Cubs is "considered inevitable." Wood wants a market value contract after taking a discount last year, and Sullivan says Octavio Dotel's one-year, $3.5MM deal with the Tigers could serve as a decent comparable.
• Earlier today we learned that the Reds have some interest in Jason Kubel, and that the Royals discussed Joakim Soria with the Red Sox before deciding they weren't a trade match.

• Brewers owner Mark Attanasio, GM Doug Melvin and agent Scott Boras (who represents Prince Fielder) had a meeting late last night that Melvin tells Tom Haudricourt of the Milwaukee Journal Sentinel was unplanned and more of a check-in session.  "Scott just said he wanted to give us an update," Melvin said.  "You never really close the door on anything because you don't know what's going to happen. You can't really read anything into it."
• Haudricourt doesn't think the meeting is a sign that the Brewers could re-sign Fielder, believing that "Boras basically was giving them a chance to jump in and make an offer that he could shop around to other clubs….More likely, [the team] gave an indication of what they might be willing to do if Fielder decided he wanted to seriously entertain the possibility of staying in Milwaukee."
• Boras also represents Francisco Rodriguez, and Haudricourt reports the Brewers "got the feeling" in speaking to the agent that Rodriguez will reject the club's arbitration offer today.
• The Pirates are no longer pursuing Wilson Betemit, reports Rob Biertempfel of the Pittsburgh Tribune-Review (Twitter link).  Biertempfel reported yesterday that the Bucs were close to deals with both Betemit and Nate McLouth, and the club agreed to terms on McLouth's contract today.
• Kerry Wood wants to return to the Cubs but wants a raise, tweets Jon Paul Morosi of FOX Sports.  Wood has said he will either pitch for Chicago next season or retire, and last winter signed a one-year, $1.5MM contract with the Cubs that was well below what other teams offered him. 
• The Reds have spoken to the un-retired Dmitri Young, reports John Fay of the Cincinnati Enquirer (Twitter link).  Young, 38, has lost 70 pounds and is looking to make a comeback in either the Major Leagues or Japan.  Young played in Cincinnati from 1998-2001.
• The Astros are looking at Marlins assistant GM Dan Jennings as a candidate for their open general manager's job, reports Jon Heyman of MLB Network (Twitter link).  Jennings' name has been connected to several GM openings in recent years but the Marlins have turned down at least four clubs' requests for interviews.  Jennings is under contract to Miami for four more years.

Updated team decisions:

• The Giants won't offer arbitration to Pat Burrell (B) or Cody Ross (B) according to John Shea of the San Francisco Chronicle (on Twitter). Carlos Beltran (A) contractually cannot be offered arbitration.
• The Dodgers declined to offer Hiroki Kuroda (B) arbitration, according to Dylan Hernandez of the LA Times (on Twitter). Rod Barajas (B) already signed with the Pirates.
• The Pirates offered arbitration to Derrek Lee (B) while declining to offer Ryan Ludwick (B) and Chris Snyder (B) arbitration. Ryan Doumit (B) already signed with the Twins. 
• The Phillies did not offer Roy Oswalt (A) or Brad Lidge (B) arbitration, according to the AP (via ESPN). The team announced that it offered arbitration to Raul Ibanez (B), Ryan Madson (A, will not cost signing team a draft pick), and Jimmy Rollins (A), according to Todd Zolecki of MLB.com (via Twitter).
• The Cubs offered arbitration to Carlos Pena (B) and Aramis Ramirez (B) but not to Kerry Wood (B), according to Paul Sullivan of the Chicago Tribune (on Twitter).
• The Cardinals offered Edwin Jackson (B) and Albert Pujols (A) arbitration, but declined to make offers to Rafael Furcal (B) and Arthur Rhodes (B), according to Derrick Goold of the St. Louis Post-Dispatch (on Twitter). That leaves Octavio Dotel (modified B, no arbitration offer necessary).
• The Mets offered Jose Reyes (A) arbitration, according to Newsday's Ken Davidoff (on Twitter).
• The Padres will offer arbitration to Heath Bell (A, will not cost signing team a draft pick) and Aaron Harang (B), tweets Corey Brock of MLB.com.
• The Brewers offered Prince Fielder (A) and Francisco Rodriguez (A, will not cost signing team a draft pick) arbitration. They declined to offer Yuniesky Betancourt (B) arbitration. Takashi Saito (A), contractually cannot be offered arbitration.
• The Braves did not offer arbitration to Alex Gonzalez (B), according to David O'Brien of the Atlanta Journal-Constitution.

Teams with automatic decisions only:

• Reds: Francisco Cordero (modified B, no arbitration offer necessary), Ramon Hernandez (modified B, no arbitration offer necessary)
• Astros: Clint Barmes (B, already signed with Pirates)
• Rockies: Mark Ellis (B, already signed with Dodgers)