Also heading to New York is right-hander Trevor Williams, according to multiple reports.
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The deal is pending medicals, per sources. The compensation going to the Cubs is unknown at this time.
Baez is hitting .248 with 22 home runs and 65 RBIs this season.
Williams is 4-2 with a 5.06 ERA in 13 games, including 12 starts.
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On Thursday, the Cubs began their tear-down, sending first baseman Anthony Rizzo to the New York Yankees for right-handed pitcher Alexander Vizcaino and outfielder Kevin Alcantara, both minor leaguers.
ALSO READ | Yankees acquire Joey Gallo at trade deadline
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