5:46pm: Manager Lou Piniella thinks the Peavy-Cubs rumors are "only talk." At least, he hasn’t talked to Cubs GM Jim Hendry much about it. Piniella remains fixated on a lefthanded hitter.
4:31pm: Yahoo’s Tim Brown has an update on the Jake Peavy trade talks, though it’s not very exciting. A Padres exec says the team has options, but nothing is close. The Padres have not yet asked Peavy to approve a trade.
Interesting note from Brown – the Yankees pushed hard, while the Red Sox and Mets "inserted themselves" into the mix.
Brown notes that Peavy would probably want the fifth year of his contract guaranteed upon a trade. At that point it’d be a five-year, $81MM deal. How much worse off would a team be signing a solid free agent starter at a lower price, while preserving the farm system?