The Cubs outrighted Woodford to Triple-A Iowa on Tuesday.
Woodford will have the ability to elect free agency, but it's unclear if he plans to test the open market or join Iowa following the All-Star break. The veteran right-hander has spent most of the season in the big leagues between stops with the Brewers and Cubs, logging a 7.46 ERA and 1.82 WHIP across 25.1 innings.