6:09pm: Blair also hears that the Jays will send about $4MM to the Reds.
4:50pm: Richard Griffin of the Toronto Star reports that the Jays will pay all of Rolen's 2009 salary, nearly $4MM. Ken Rosenthal and Jon Paul Morosi report that an undisclosed amount of cash is changing hands.
4:26pm: The Jays will pay some of the $4MM Rolen makes between now and the end of the season, according to Jeff Blair of the Globe and Mail.
4:25pm: MLB.com's Jordan Bastian reports that Jays GM J.P. Ricciardi says Rolen asked to be traded for "personal reasons."
3:14pm: Rolen approved the deal, according to Joel Sherman of the New York Post (on Twitter). ESPN's Keith Law says Yonder Alonso is not in the deal. Instead, it'll be Encarnacion, Josh Roenicke, and Zach Stewart heading to Toronto according to John Fay of the Cincinnati Enquirer.
2:56pm: FOX Sports says the Blue Jays will get Edwin Encarnacion and a minor leaguer. Rolen is expected to approve the deal. It's a massive upgrade for the Reds defensively.
2:40pm: The Reds acquired third baseman Scott Rolen, according to SI's Jon Heyman (via Twitter). The next step is Rolen approving the trade. He's owed $4MM this year and another $11MM in 2010. The slick-gloved 34 year-old has bounced back to hit .320/.370/.476 in 373 plate appearances this year.