probable that the Cubs will trade Marlon Byrd to the Red Sox. It's likely the Cubs pick up the bulk of Byrd's remaining contract ($6 millionish) to increase the package they get in return. It's unlikely the Cubs will acquire much talent in this trade. A decet relief pitching prospect is probably about as good as it will get.
More on this as it develops.
1:34pm: Red Sox manager Bobby Valentine acknowledged to reporters that the club’s talks with the Cubs are advanced, writes Scott Lauber of the Boston Herald. “The talks have been good talks, from what I gather,” Valentine said. “Ben [Cherington] will try to get as good a player as he can get.” — MLBTR
Byrd states that he has been traded according to Bruce Levine:
Marlon Byrd confirms he has been traded to Boston. Deal will beannounced after Bostongame.
— Bruce Levine (@ESPNBruceLevine) April 21, 2012
It's also done according to Sean McAdam of CSNNE.com
Baseball source: Byrd to Red Sox for Michael Bowden and PTBNL done. Cubs will pick up "most'' of Byrd's $6.5 million.
— Sean McAdam(@Sean_McAdam) April 21, 2012