Kerry Wood has made a name, a living and a family for himself in the city of Chicago playing for the Cubs. So why would he ever want to leave?

The reliever, who signed with the team he played for from 1998-2008 after spending parts of two seasons with the Indians and the Yankees, is scheduled to come off the disabled list on Friday following blister problems and can be expected to be a hot commodity on the trade rumor mill that is always filled with names of quality relievers come July. However, Wood told the Daily Herald that he wouldn’t waive his full no-trade clause unless he was convinced it would work out for his family and the Cubs organization.

“I think it would have to be great for both,” he said.  “Obviously, [his wife Sarah] and I will talk about it. We have a little bit. It would have to be ideal for both. It would have to be something that is definitely going to help this organization down the road and something that’s going to fit for us, which is, right now, here. I know the talk’s going to come. I’ve already been hearing it. So we can address it now. I doubt it. We’re committed here. We’ve got an event in September. So I’ll just leave it at that. I don’t see it. I don’t see it happening.”

Wood’s biggest trade asset to any team may not be his 2.25 ERA but his low $1.5 million salary, which should have plenty of teams calling Cubs GM Jim Hendry in the coming month.

The Cubs are scheduled to announce Friday the signing of pitcher Kerry Wood to a one-year deal worth a reported $1.5 million with the Cubs. Wood was a standout starter for the Cubs early in his career, when he was healthy enough to pitch. He left Chicago for the Indians in 2008 and was acquired by the Yankees during last season.

Could the Cubs be thinking about returning Kerry Wood to Wrigley Field? That’s speculation floated by ESPNChicago, which suggests that Wood would come back as a set-up man after a brief departure that took him from Cleveland to the Yankees. The report also has the Cubs making a play for Adam Dunn.

The New York Yankees will not pick up the 2011 options on big name free-agent signees Lance Berkman and Kerry Wood, the Newark Star Ledger reports. The Yankees will also not pick up the option on Nick Johnson, who was added before the start of the 2010 season. Berkman’s contract included a $15 million team option or a $2 million buyout for 2011, but when he was traded to New York it was changed to a mutual option.

Berkman played in 37 games for the Yankees after the trade was finalized, only hitting .255.

Wood’s 2011 deal was worth $11 million with no buyout required. During the season, Wood had been a target of the Red Sox at the trade deadline, but the Yankees made a more aggressive salary bid for the right-hander, which led him to New York. Wood ended up being a key member of the Yankees bullpen, forging a 0.69 ERA in 26 appearances. Given the Sox’ interest in him during the regular season, if he is open to a middle relief role next year and becomes available on a short-term deal (one or possibly two years), it would seem a decent possibility that the Red Sox would be interested in him.

Johnson had a $5.25 million mutual option for 2011, but the Yankees chose a $250,000 buyout after the first baseman missed nearly the entire season after having wrist surgery. The $5.25 million would have been slightly less than what Johnson made this season.