Both Chicago teams are viewed by their competitors as serious players for Japanese pitcher Masahiro Tanaka, though the deep-pocketed Los Angeles Dodgers and New York Yankees are also seriously involved and can't be counted out, Jon Heyman of CBSSports.com said.
One executive heard Tanaka was the Cubs' "to lose," but Cubs people weren't saying anything of the sort. White Sox general manager Rich Hahn declined to comment.
The Arizona Diamondbacks are also reportedly interested.
Any possible deal ranges from $120 million to $140 million for six years. Tanaka's Japanese team will get $20 million from the winning bidder. The right-hander went 24-0 for Rakuten last season.
A deadline for a deal is Friday.
Once Tanaka signs, things should start sorting themselves out for top free-agent pitchers such as Matt Garza, Ervin Santana, Ubaldo Jimenez and Bronson Arroyo.
Olympian Katie Ledecky won the 800-meter freestyle at the Austin (Texas) Grand Prix about 10 minutes after she swam in another event. She beat Danish Olympian Lotte Friis by more than a body length in 8 minutes, 26.70 seconds.
Ledecky was fourth in the 200 individual medley shortly before she stepped on the blocks for the 800. Caitlin Leverenz led all the way to win the 200 IM, and Olympian Jessica Hardy won the 100 breaststroke. Both attended Cal.
Bert Williams, the England goalkeeper who gave up the goal that allowed a team of journeymen Americans at the 1950 World Cup to produce one of soccer's great upsets, has died. He was 93.
Williams struggled to shake the memories of the 1950 trip to Brazil when England arrived at its first World Cup as one of the favorites, but departed after a 1-0 loss to an American team that arrived at the stadium smoking cigars and wearing cowboy hats and left all of soccer in disbelief. In the U.S., the game was labeled the "Miracle on Grass."
Chataway, who was knighted by Queen Elizabeth II in 1995, competed at the 1952 and 1956 Olympics, and acted as a pacemaker to help Bannister become the first man to break the four-minute mile barrier in 1954.
Chataway gained recognition for himself in 1954 as well, winning the three-mile race at the Commonwealth Games.
The Associated Press contributed to this report.