UPDATE 3:08 PM EST: Nick Cafardo of The Boston Globe pours some cold water on the report, tweeting the Cubs are not interested in Lowe.

Original Story: The Chicago Cubs have some interest in acquiring Cleveland Indians pitcher Derek Lowe, according to a report from Gordon Wittenmyer of the Chicago Sun-Times.

"Facing post-trade-deadline depth issues, the Cubs are looking into what it would take to acquire former Derek Lowe, who was designated for assignment by the Cleveland Indians this week."

Lowe was designated for assignment earlier this week after posting a 5.52 ERA with the Indians this season. The Boston Red Sox and Baltimore Orioles have also been rumored to have interest in the 39-year-old.

Cubs general manager Jed Hoyer told Wittenmyer "We'll continue to be active in August." Wittenmyer speculated that Carlos Marmol and Alfonso Soriano should clear waivers because of their hefty contracts. Marmol is owed $12.4 million and Soriano still has $42 million left on the huge contract he signed back in 1997.

While he's certainly not earning the $19 million he's being paid this season, Soriano is having a productive season for the Cubbies. The 36-year-old is hitting .271/.321/.494 with 19 home runs and 61 RBI.

Marmol, 29, has a 4.86 ERA and 1.80 WHIP. He's still managing to overpower hitters, registering 11.6 strikeouts per nine innings pitched, but he's also struggling worse than ever with his control, averaging a career-high 8.6 walks per nine.

____________________________________________________________________

Should a contending team take a chance on Carlos Marmol?

____________________________________________________________________