8/18 14:25: Ken Rosenthal of FOXSports reports that the deal is done. The Chicago Cubs have traded Derrek Lee and cash to Atlanta Braves for right-handed pitchers Robinson Lopez, Ty’Relle Harris and left-handed pitcher Jeffrey Lorick. All three pitchers were prospects in the Atlanta Braves farm system with no Major League experience.

Team	Acquires
Atlanta Braves	1B Derrek Lee Cash
Chicago Cubs	RHP Robinson Lopez RHP Ty’Relle Harris LHP Jeffrey Lorick

8/18 14:22: Mark Bowman of MLB.com says the Braves and the Cubs are in the final stages of the deal. Multiple sources are confident the trade will be completed within the next hour or two.

8/18 14:19: Derrek Lee will hold a press conference after the Cubs game, according to David O’Brien of the Atlanta Journal-Constitution. Lee did not play in today’s Cub’s game versus San Diego.

8/18 14:15: David O’Brien of the Atlanta Journal-Constitution says a deal for Lee is “imminent.”  He adds, it’s “Just a matter of being announced.”

8/18 13:14: Jon Heyman of Sports Illustrated tweets, “derrek lee cleared waivers and can be traded.” Keep in mind that he can still veto petential trades.

8/18 10:10: According to David Kaplan of CSNChicago.com, the Chicago Cubs are close to trading first baseman Derrek Lee to the Atlanta Braves. Bob Nightengale of USA Today says the deal will finalize this afternoon and Troy Glaus will move to the bench.

The trade was first discussed on Sunday evening between the two teams.

“There’s no reason to speculate,” Cubs manager Lou Piniella said Wednesday morning. “We just have to see what happens. But I wouldn’t put that much credence in rumors until something happens – or (doesn’t). I have no idea.

Lee has 10-5 rights (10 years in the Major Leagues and the last 5 years with the same team) so he has the right to reject a trade. However, sources close to Kaplan says that Lee would be willing to approve a trade because the Braves are leading their division, and it would give him the best shot at winning another World Series ring. Ken Rosenthal of FOXSports adds via Twitter that “Lee has signaled willingness to waive no-trade rights.”