There is no reason why Kenny Lofton should still be a free agent. At the age of 40, he managed to hit .296, rack up 145 hits, and pick up 23 steals in 136 games. Last we heard, Kenny received a minor-league offer from the Reds, which he turned down as an insult (rightfully so). Do you mean to tell me that not a single team couldn't use his services? He's a versatile outfielder and he's healthy. Buying Lofton is hardly a risk.
Personally, I think the Cubs are the best fit for Kenny. The Cubs are contending this year, and Lofton is a proven and experienced postseason player. However, picking up Jim Edmonds (who was released by the Padres earlier this year) was a mistake, and the Cubs' management should have thought a little harder about their center-field spot.
All they would have to do is either trade Edmonds (which would be hard to do), make him a backup, or release him. Lofton should without question be the starting center fielder on the Cubs. His speed, defense, and hitting would be a tremendous upgrade to (in my opinion) the best team in the National League.
Although I'm a vocal supporter of the other free agent out there, I can understand why teams have been hesitant to sign Barry Bonds. What if his trial begins earlier than expected? His next court date is scheduled for June 6, and that may be the answer to Barry playing this season. On the other hand, what the hell is Kenny involved in? Sign him already!