12:50pm: According to Paul Sullivan of The Chicago Tribune, a Cubs source "quickly responded to the report by saying the rumor has 'no legs at all,' adding the team has not discussed the possibility of bringing Wells to the North Side."
9:45am: We've heard plenty of talk that the Cubs will try to trade disgrunted outfielder Milton Bradley this offseason, and somewhat surprisingly there's been plenty of interest in his services. Most believe the Cubs might have to take on another bad contract in return, maybe someone like Pat Burrell, but Bob Elliott of The Toronto Sun tosses a new name into the rumor ring: Vernon Wells.
"It's early on, but we think this one has some legs," said one Cubs official. "But they aren't the only team we are talking with."
Wells has hit just .276/.324/.439 since signing his big contract, which still has five years and $107MM left on it (including a still-to-be-paid portion of his signing bonus). Bradley is owed just $21MM over the next two years, and Elliott indicates that the "Cubs' idea is to split the difference on monies owed," which works out to each team absorbing $43MM.
Looking it from the Blue Jays' point of view, they would probably love to go through with this deal because they'd be saving a boatload of cash while picking up the player with a shorter commitment. Things don't appear to add up for the Cubbies, who would be taking on a ton of money while added another long-term, untradeable contract to Alfonso Soriano's. Not sure this one passes the sniff test, but crazier things have happened.