Sunday, 7:52pm: The Yankees and Cubs are working on a deal that would send Chapman to Chicago for top prospect Gleyber Torres plus a second piece (!), report Jon Heyman and Buster Olney. Apparently the Cubbies want Chapman to agree to an extension before consummating a trade. Sounds like the deal could be completed as soon as tomorrow.

Sunday, 1:58pm: Jack Curry, who will inevitably break the Chapman trade news, says nothing is imminent and the Yankees are still mulling offers. For what it’s worth, John Harper says Hal Steinbrenner gave the okay to deal Chapman before the Giants series. Here’s the latest:

• The Cubs are “strong” in the mix for Chapman, says Ken Rosenthal. The Giants, Dodgers, Nationals, and Indians are all involved too. That sounds like a last minute leak from the Yankees to get someone to raise their offer. He’s currently on the DL with a minor shoulder injury and is due back soon.
• The Yankees have interest in Nats righty Joe Ross, reports Jon Heyman. One source told him there is “no chance” they’ll trade Ross for a rental though. Here’s my offseason Scouting the Market post on Ross.
• Keith Law hears the Yankees would get righty Erick Fedde, righty Koda Glover, and a third piece if the deal with the Nationals goes through. That is a lot. Here is MLB.com’s Nationals top 30 prospects list so you can familiarize yourself with those guys.
• The Yankees “love” Cubs shortstop prospect Gleyber Torres, according to Buster Olney. I wrote about Torres in our Scouting the Market: Cubs post a few days ago.

Sunday, 12:41am ET: Rosenthal says a trade is not necessarily imminent. The Yankees are preparing to wrap-up the process though. I guess that means they’re sorting through final offers and things like that.

Saturday, 10:38pm ET: The Yankees are telling teams they are close to trading Aroldis Chapman and will hold on to Andrew Miller, reports Ken Rosenthal. There’s no word on where Chapman may be heading or when a deal may be completed. For what it’s worth, the Nationals have been connected to him most frequently.

Following Saturday’s loss, the Yankees are now 49-48 on the season and 7.5 games back in the AL East. They’re 4.5 games back of a wildcard spot with four teams ahead of them. FanGraphs puts their postseason odds at 8.3% as of this writing, which should have the team firmly in sell mode. I’m not sure what else ownership needs to see.

Now, that said, trading Chapman would make sense even if the Yankees were in the race. They were able to get him at a very discounted rate due to his pending domestic violence suspension, and now that the suspension has been served, they can market him as a full price rental elite reliever. That’s pretty darn valuable and should fetch a lot.

In addition to the Nationals, the Rangers, Cubs, and Giants have all been connected to Chapman to some degree. Washington tried to acquire Aroldis in the offseason following his domestic dispute incident, but the Yankees beat them to the punch. Nationals manager Dusty Baker had Chapman with the Reds and has reportedly been pushing to acquire him.

As for keeping Miller, it’s certainly a sound strategy considering his general awesomeness and the two years left on his affordable contract. It’s been reported that the Yankees will have to be blown away to move him. That could still happen before the deadline, it’s not like there’s a shortage of teams in on Miller. We’ll see. The trade deadline is one week from Monday.