Indians' Wood active; Yanks closing in?

7/31/2010 - MLB Kerry Wood Cleveland Indians + more

CLEVELAND -- The Cleveland Indians have activated Kerry Wood from the disabled list.

The Indians announced Saturday that Wood will take the place of Austin Kearns, who was traded Friday to the New York Yankees.

But Wood could be joining Kearns in New York shortly. The Yankees are closing in on a deal for Wood, sources told ESPN The Magazine's Buster Olney.

The trade would be for a player to be named later or cash, a source told ESPN.com senior writer Jayson Stark.

Wood was placed on the disabled list earlier this month for a blister on his right index finger. It was his second time on the DL this year. He didn't pitch until May 8 because of a strained muscle in his upper back.

Information from The Associated Press was used in this report.