According to a baseball source, the Rays have liked Baez "for a while" and also covet Kyle Schwarber, who is unlikely to be traded. Chicago and Tampa Bay discussed trade scenarios involving relievers Brad Boxberger and Jake McGee at the trade deadline in July, though nothing materialized.
Reports indicate that in addition to Boxberger and McGee, the Cubs are likely to have interest in controllable Rays' starters like Matt Moore, Jake Odorizzi and Alex Cobb. Chris Archer is not believed to be in play in talks, though Tampa may get creative as it shops its starters to multiple other clubs.
Industry sources have said all day that it would not come as a surprise to see the Rays and Cubs match up on a deal because each club's depth matches up well with the other's. At this point, it is unclear how close the sides are to completing a trade.