Cubs and Rangers getting closer on Garza deal

UPDATE 9:57

Ken Rosenthal of FOX Sports has tweeted out that the Rangers and the Cubs are getting closer to a deal.

One official in #Rangers-#Cubs talks believes Garza deal getting closer. Prospects from various levels in play. Olt "possibly" involved.

— Ken Rosenthal (@Ken_Rosenthal) July 19, 2013

The Rangers have been the favorite for Garza's services according to multiple reports. Rangers top prospect Mike Olt will likely be involved in any deal for Garza. Olt was ranked the #22 prospect in Baseball America before the 2013 season, but has struggled this season for the Round Rock Express due to an eye issue that has landed him on the DL.

Olt has a lot of issues with strikeouts, but his raw power and defense are highly attractive to any suitor.

EARLIER UPDATE:

The Chicago Cubs are asking for team's final and best offers for right handed pitcher Matt Garza according to Buster Olney of ESPN.

Other teams say CHC are asking for last and best offers on Matt Garza, and they think he'll be traded before he throws another pitch for CHC

— Buster Olney (@Buster_ESPN) July 18, 2013

Garza has been the subject of a lot of trade rumors. According to multiple reports, the Texas Rangers are the favorites to land Garza in a trade, although the Cardinals, Blue Jays, Pirates, Indians and Dodgers are also involved in the trade talks. The Red Sox, who were rumored to be in on Garza depending on the price, are now out according to Sean McAdam of Comcast SportsNet New England.

The Cubs are looking for top-tier prospects for Garza, who is 5-0 with a 1.24 ERA in his last six starts. Garza is eligible to become a free-agent after the year. Garza is considered by many around the league, not as a No. 1 or 2 in a rotation, but a very strong No. 3. The Cubs, however, have set the asking price exceptionally high for the pitcher that Garza is.

Whether or not the team can sign Garza to an extension will likely be one of the determining factors as to who trades for him.

More from MLB Daily Dish:

• Padres trade rumors: San Diego looking to sell
• Giants trade rumors: Tigers, others interested in Tim Lincecum
• Eighty percent chance Garza is traded before start
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