The Cubs have agreed to send Starlin Castro to the Yankees in exchange for pitcher Adam Warren and infielder Brendan Ryan, as first reported by Joel Sherman of the New York Post.
The deal won't be made official until the medical reports have been reviewed and signed off on, but there's no reason at the moment to think this deal will fall through.
Just moments ago, the Cubs signed Ben Zobrist to a four-year deal worth $56 million, which seemed to signal that a trade of Castro was imminent.
Zobrist desired an opportunity in which he could see significant time at second base, making Castro expendable. New York's acquisition of Castro also makes Rob Refsnyder's future with the Yankees murkier.
Of the two players going to Chicago, Warren, 28, will undoubtedly have more of an impact on the team. In 131 innings with the Yankees last season he posted a K/9 of 7.13, a BB/9 of 2.67, an ERA of 3.29, and an FIP of 3.59. It seems likely that he'll wind up in the bullpen for the Cubs, but Warren made 17 starts last season, and could be a long-man or spot-starter in case of injury.
As for Ryan, he's entering his age 34 season, and doesn't have much value left as a major league. His offense has been below league average for most of his career, and his defense took a hit last year. He'll likely serve as depth for Chicago.