Manny To Dodgers, Bay To Red Sox

4:05pm: Peter Abraham says Manny’s team options were removed and he has agreed to decline arbitration.

3:58pm: Let’s sort through this wild trade.

• For 1.3 years of Bay, the Pirates receive LaRoche, Morris, Hansen, and Moss.  Moss becomes the regular left fielder, LaRoche takes over at third until Pedro Alvarez is ready.  When that happens, they might have a good problem on their hands.  Future Pirates’ outfield: Moss, McCutchen, McLouth.  The pitchers are a couple of live arms at this point.
• The Red Sox might be downgrading a bit with Bay replacing Manny, but they get Bay next year for just $7.5MM.
• The Dodgers will have Manny play every day.  That leaves Juan Pierre, Andruw Jones, Andre Ethier, and Matt Kemp splitting two outfield spots.  Not ideal, but they didn’t give up a ton to get Ramirez.  One question – can they get Manny to agree to decline an offer of arbitration so they can net draft picks?

3:39pm: Bob Nightengale has the Bucs getting Craig Hansen and Brandon Moss from the Red Sox and Andy LaRoche and Bryan Morris from the Dodgers, correcting what looks like a typo in the Rosenthal report.

3:37pm: Rosenthal has details:

Pirates outfielder Jason Bay is headed to the Red Sox. The Pirates will receive Andy LaRoche and right-hander Bryan Morris from the Dodgers and outfielder Damien Moss and releiver Craig Hansen from the Red Sox.

He adds that the Red Sox will pay the $7MM remaining on Manny’s contract.

3:30pm: According to SI.com’s Jon Heyman.  Jack Curry agrees.