Due to steep price, Rays won't parole Bay from Pittsburgh

We just passed the 4 p.m. ET trading deadline, but it's too early to say that nothing went down.

However, Tim Brown just passed along this report, regarding the Pirates-Rays negotiations over outfielder Jason Bay: "Despite reports to the contrary, the Rays found the asking price for Jason Bay to be too high and pulled out of negotiations with the Pirates just before the trading deadline."

So it appears as if Bay — who was the main attraction for both the Rays and the Red Sox during this afternoon's trading theater — will be staying in Pittsburgh, while Boston and Tampa Bay fight on as previously constituted. Was standing pat the right move for both teams?

UPDATE: As Lee Corso might say, notsofastmyfriend: SI.com is reporting that Manny is headed to the Dodgers while Bay is indeed leaving Pittsburgh and heading to Boston. Our Yahoo! Sports baseball experts are on the story and we'll post confirmation as soon as it become available.