11:02am: A Cubs source told ESPN's Jim Bowden the prospects are outfielder Abner Abreu and reliever Carlton Smith (Twitter link).

10:30am: Hoynes tweets that the Indians are paying $775K of Fukudome's remaining salary, which would leave about $3.9MM for the Cubs.

9:35am: The prospects the Indians are sending are "one upper level, one lower level," tweets Paul Hoynes of the Cleveland Plain Dealer. He says one is a pitcher and the other is a position player.

9:13am: The Cubs will receive two prospects for Fukudome, tweets ESPN's Buster Olney, and a deal is likely to be done by today's game at 1:10pm central time. Olney adds that the Cubs are picking up more than half of the $4.7MM owed to Fukudome, while SI's Jon Heyman tweets that they'll pay the "vast majority." Jayson Stark tweets that the only hangup is determining minor perks for Fukudome in exchange for waiving his no-trade clause, and Jon Paul Morosi notes that the Indians are indeed on the outfielder's 15-team no-trade list.

The Indians are still working on other things, tweets Olney. Bastian expects a push for another outfielder.

8:57am: The Indians are in serious talks for Cubs right fielder Kosuke Fukudome, tweets Ken Rosenthal of FOX Sports. The deal is "very close to happening," tweets Danny Knobler of CBS Sports. With Shin-Soo Choo and Grady Sizemore on the DL, the Tribe has a clear need for outfield help.

Fukudome, 34, is hitting .273/.374/.369 in 345 plate appearances for the Cubs this year. Throughout his Cubs career, Fukudome has been able to draw walks but has shown limited power. Though his right field defense drew praise initially, he's been below-average per UZR over the last few years. Since Fukudome is owed almost $4.7MM for the balance of the season, the Cubs will likely have to kick in money to make a deal happen. He cannot be offered arbitration after the season, so draft pick compensation is not a factor. Fukudome has a limited no-trade clause, which MLB.com's Jordan Bastian thinks he may have waived to come to the Indians (Twitter link).