7/31 12:51: The Indians will receive a player to be named later or cash for Wood (Jayson Stark, ESPN)

7/31 12:43: Joel Sherman of the New York Post tweets, “Kerry Wood deal from #Indians to #Yankees is completed, awaiting Commissioner’s approval on dollars that Indians are sending Yanks”

7/31 12:36: Ken Rosenthal of FOXSports says “Confirmed: #Yankees close on Kerry Wood”

7/31 12:30: Olney adds, “Heard this: The Indians would eat a lot of the money owed to Kerry Wood if the Yankees and Cleveland finish this deal.” and “If the Yankees finish the deal for Wood, as it looks like they will, he will be a strong safety net for Joba Chamberlain as set-up.”

7/31 12:24: Buster Olney Tweets, “Heard this: The Indians would eat a lot of the money owed to Kerry Wood if the Yankees and Cleveland finish this deal.”