Jason Schmidt on the Horizon?

Our local ESPN affiliate reported that the Cubs offered Jason Schmidt a hefty contract today, but I can't find any corraborating information online. Can anyone lend any credence to this rumor (or shoot it down?)

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SI.com has the info

SI.com:

"The Cubs, anxious to steal the winter and maybe the summer, too, are now pursuing star free-agent pitcher Jason Schmidt, SI.com has learned. The Cubs already have spent $239 million on free agents (including the $10 million they used for new manager Lou Piniella), and two high-ranking baseball people said they are bidding about $45 million over three years for Schmidt in attempt to lure him away from the West Coast."