Peavy trade talks progressing

Tim Brown
Yahoo Sports

While there was “some movement” in negotiations with the Atlanta Braves and a “much better than reported” offer from the Chicago Cubs, a source with knowledge of the Jake Peavy trade talks said Thursday morning that the San Diego Padres have not agreed to players in either proposal.

Various reports have had the Braves offering a deal wrapped around shortstop Yunel Escobar and outfielder Gorkys Hernandez. CBSSports.com has reported that the Padres were close to accepting the Braves' offer, the culmination of a month of negotiations.

While Cubs manager Lou Piniella termed his team's interest in Peavy as “just talk,” a source called the Cubs' involvement “serious.” The Cubs are believed to have offered a package that includes outfielder Felix Pie, infielder Ronny Cedeno and starter Sean Marshall, but not Jeff Samardzija.

Into the final hours of the free-agent exclusivity period, the Braves and Cubs remained the favorites. The New York Yankees remained a peripheral possibility, and the New York Mets attempted to become involved despite Peavy's reluctance to pitch for them. The Los Angeles Dodgers, frequently reported among the teams most interested in Peavy, were never seriously engaged.

When the Padres have agreed to players, Peavy will be asked to waive his no-trade rights. Then, Peavy – and his agent, Barry Axelrod – likely will negotiate compensation, at least a guarantee of his $22-million option in 2013.