Jake Peavy will soon add a Cy Young to his resume, and the Padres would like to explore a contract extension with him. Under his current contract, Peavy will earn $6.5MM in '08 and $11MM in '09 once he wins the award. The Padres would like to extend him for the 2010 and 2011 seasons and possibly more.
Peavy realizes the Padres won't give him the $18MM+ per year he could earn on the free market. But an extension for 2010-11 in the range of $32-35MM could work.
It's been assumed that any team trading for Peavy this winter would have him for two seasons. However, that isn't the case - Tom Krasovic says he could opt for free agency after '08 as a player traded during a multiyear deal. I assume Dan Haren has the same right, but Erik Bedard does not. That certainly bumps up Bedard's value.
Krasovic also adds that the Padres have their eye on Jim Edmonds and Ryan Church as center field options. The Padres would expect Edmonds to be a salary dump and the Cards to throw in some cash. Meanwhile Jim Bowden has a high asking price for Church.
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