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With Matt Cain ailing, Giants acquire Jake Peavy from Red Sox

In a trade development that moved quickly on Saturday morning, the San Francisco Giants have acquired veteran right-hander Jake Peavy from the Boston Red Sox

Jen Royle of the Boston Herald was the first to report a Peavy deal was coming into place with a National League team. Fox Sports' Ken Rosenthal and Jon Morosi reported that San Francisco was going to be the destination, and CBS Sports' Jon Heyman soon confirmed the deal was done.

As for the return:  

San Francisco was likely to pursue starting pitcher depth even before Matt Cain developed some soreness in his pitching elbow and hit the DL on July 21. However, his loss made it a requirement, so general manager Brian Sabean got a veteran who's familiar with manager Bruce Bochy from their days in San Diego, and who's coming off winning a World Series ring from 2013 with Boston.

Peavy, 33, is 1-9 with a 4.72 ERA over 20 up-and-down starts this season after moving to Boston last August and helping it get over the hump. He's yet to find a groove in 2014, having completed seven or more innings in only four starts. The Giants aren't acquiring 2005 Jake Peavy here, but they're getting what they need, and that's a solid No. 4 type starter, just like the one who helped Boston.

Peavy has also had great success historically against the Los Angeles Dodgers. He's 14-2 lifetime with a 2.21 ERA over 25 games. But of course, these aren't the same Dodgers he's used to facing, and he's not the same pitcher, so those numbers, while interesting, probably mean little going forward.

We might actually get our first taste of the matchup on Sunday, as Peavy is expected to arrive in San Francisco on Saturday and potentially start the prime-time game on Sunday.

Here's a little more from CSN Bay Area's Andrew Baggarly: 

Peavy was an ideal target because his $15 million option for next season won’t vest and he won’t be a drag on a 2015 payroll that already has $125 million committed without addressing third baseman Pablo Sandoval, an impending free agent, as well as upcoming vacancies at second base, left field, No. 5 starter and closer.

The Giants looked at bigger prizes including David Price, Cole Hamels and Bartolo Colon, but the future salary obligations would have significantly crippled their financial flexibility for next year.

The St. Louis Cardinals were also reportedly interested in Peavy, which would have been interesting given their signing of A.J. Pierzynski this weekend. Peavy and Pierzynski have history together in both Chicago and Boston, though Pierzyniski's time with the latter ended unfavorably earlier this month. 

The Red Sox will reportedly pick up some of Peavy's remaining salary this season, which aids their return. He's in the final year of a two-year, $29 million deal. 

Escobar, 22, was No. 56 on Baseball America‘s preseason list, but has struggled with a 5.11 ERA over 111 innings at Triple-A Fresno. He's a left-handed starter that could get a look this season. 

Hembree, 25, is a right-handed reliever with nice upside. He's also been at Triple-A, posting a 3.89 ERA and 46/13 K/BB ratio over 39 1/3 innings. His first extended chance in the big leagues could come immediately. 

You can definitely tell the final few days and hours before the deadline are upon us. This is the first major deal of the week, but you can bet others will soon follow. Stick with us here at Big League Stew and Yahoo Sports for all of the latest. 

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Mark Townsend is a writer for Big League Stew on Yahoo Sports. Have a tip? Email him at bigleaguestew@yahoo.com or follow him on Twitter!

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