Latest On Roy Oswalt

10:45pm: The Reds continue talking to Oswalt, though he'd prefer to pitch for the Cardinals or Rangers, Ken Rosenthal and Jon Paul Morosi of FOX Sports report. Cincinnati would have to clear payroll to add Oswalt and Homer Bailey would be the most likely candidate to be dealt.

9:33pm: Cardinals GM John Mozeliak acknowledges he’ll be ‘opportunistic’ about potential deals, but says he’s not expecting significant moves before Spring Training, according to Derrick Goold of the St. Louis Post-Dispatch. Though the Cardinals and Roy Oswalt had mutual interest in a deal, they couldn’t reach an agreement.

Oswalt was asking for a significant guarantee in terms of role and salary, but the Cardinals aren’t looking to add payroll. The Cardinals haven’t spoken to Oswalt’s agent in the past week or so, Goold writes. The Reds appear to be kicking the tires on the right-hander, but the Rangers aren’t likely to sign him.