10:37pm: Kevin Towers said tonight the Braves made a good offer for Peavy a few months ago, but it was unclear whether Peavy would approve a trade there. He also said a proposal from the Cubs "would fill several holes" on the Padres’ roster. Peavy’s agent Barry Axelrod says a framework was in place with the Cubs at the Winter Meetings but they were "trying to fill out that framework" by acquiring some pieces.
Bruce Miles runs through the chances of the Cubs signing various free agent starters mentioned below.
3:32pm: Padres CEO Sandy Alderson doesn’t believe there have been new talks with the Cubs, though that is not exactly what Wittenmyer said below. Alderson said it’s likely Peavy will be with the Padres on Opening Day. He added that the Padres were never that close to a deal with the Braves and did not have an offer from the Cubs on which they could give a yes or no. Also, he doesn’t believe the team’s impending sale changes their position on Peavy.
10:03am: According to Gordon Wittenmyer of the Chicago Sun-Times, "those close to Jim Hendry expect him to restart the Jake Peavy talks" now that the Cubs have unloaded salary with the Jason Marquis trade. Hendry admitted yesterday he hopes to add another pitcher before Opening Day.
Wittenmyer notes that the Cubs’ 2010 payroll was unaffected by the recent moves, so Hendry would need a nod from the new ownership group before taking on Peavy’s contract. The new ownership could be in place with just enough time for the Cubs to swing a Peavy deal, Wittenmyer believes.
As alternatives, Wittenmyer suggests Braden Looper and Tim Redding would fit better financially than Derek Lowe. Dave van Dyck wonders if Andy Pettitte could be a fit. Bob Klapisch says the Mets have considered Pettitte.