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Jake Peavy(notes) just said "no" to the White Sox, killing a trade the Padres had worked out to send the former Cy Young winner to Chicago.

Here's what Peavy told reporters Thursday night:

"San Diego is the best place for us. We've made that decision for the time being.

"It's been a crazy 24 hours."

White Sox general manager Ken Williams must be having a great day; his team also lost to the Twins, 20-1, equaling the widest defeat in club history.

This is a different kind of loss.

The Chicago Sun-Times, citing "a source close to Peavy camp," said he exercised his no-trade clause after sleeping on the possibility.

White Sox reliever Scott Linebrink(notes), a former teammate in San Diego, lobbied Peavy to accept the trade, which reportedly the teams agreed upon and might have included Aaron Poreda(notes), the Sox's top pitching prospect, and three other minor leaguers.

According to the source, Linebrink did a good selling job, and it seemed Peavy was leaning toward accepting the trade, but after an evening of thinking about it, as well as talking with his family, he was not ready to leave San Diego for an American League team.

No deal with the White Sox doesn't mean Peavy won't be traded. Additional suitors are expected as the interleague trading deadline approaches; the Angels are a possibility.

But Yahoo! Sports sources say the Padres are telling other teams that Peavy would only pitch for other NL teams. Also, the packages offered to the Padres seem to be shrinking in quality. The Braves and Cubs, many believe, had put up better packages than the Sox. Those deals fell through, too, of course.

Peavy must realize how long the Padres have to go before becoming competitive again. A question remains: Will the Pads be able to make a deal that sends Peavy to a team he finds more ideal while getting value in return?

Williams, meanwhile, still needs to work on other holes for the defending AL Central champions. The Sox have pitching holes, hitting holes, holes in their gloves — that even swinging a Peavy deal couldn't have patched.

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