Week In Review: 8/19/12 – 8/25/12

As the dust settles from Saturday's trade of historic proportions, let's catch up on the week that was here at MLBTR…

• The Red Sox and Dodgers completed a nine-player blockbuster sending Josh Beckett, Adrian Gonzalez, Carl Crawford, and Nick Punto to Los Angeles for James Loney, Allen Webster, Ivan De Jesus, Jerry Sands, and Rubby De La Rosa. The deal provides Boston with financial flexibility and talent for the future while Los Angeles' hopes for the playoffs will be bolstered by Gonzalez's bat. 
• Starlin Castro and the Cubs reached agreement on a seven-year contract extension worth $60MM. The deal includes a $16MM option for 2020 which would boost the overall value of the deal to $76MM. 
• The Astros designated right-hander Armando Galarraga for assignment. The 30-year-old signed a minor league deal with the Astros in late May to help fill a spot in Oklahoma City's rotation.
• Bartolo Colon failed an MLB-issued drug test and has been suspended for 50 games. The veteran right-hander has pitched to a 3.43 ERA with 5.4 K/9 and 1.4 BB/9 in 24 starts and 152 1/3 innings for the Athletics this season after signing a one-year, $2MM contract. 
• The Cardinals agreed to a contract extension with Jake Westbrook that will keep the right-hander off of the free agent market for at least one more year. The deal covers the 2013 season and adds a mutual option for 2014.
• The Diamondbacks traded Stephen Drew to the Athletics for minor league infielder Sean Jamieson. Batting just .193/.290/.311, Drew has yet to rediscover his stroke at the plate. Jamieson, 23, was Oakland's 17th-round selection in the 2011 draft. 
• An unidentified team claimed Justin Upton on waivers but the outfielder is expected to remain with the Diamondbacks for the remainder of the season. Upton will earn $9.75MM in 2013, $14.25MM in 2014 and $14.5MM in 2015.
• The Orioles designated left-handed reliever J.C. Romero for assignment after acquiring the veteran from the Indians nearly two weeks ago and purchased his contract from the minor leagues the following day.
• The Pirates claimed Angels reliever Hisanori Takahashi off of waivers. The 37-year-old has held left-handed hitters to a .244/.287/.384 batting line with 9.2 K/9 and 2.1 BB/9 in three MLB seasons.
• Outfielder Chad Tracy agreed to a $1MM contract extension for next season with the Nationals. Tracy, 32, has a .283/.353/.517 batting line in 68 plate appearances as a backup corner infielder and pinch hitter.
• The Athletics acquired right-hander Jesse Chavez from the Blue Jays for cash considerations. Chavez, 29, posted an 8.44 ERA with 11.4 K/9 and 4.2 BB/9 in 21 1/3 innings with the Blue Jays this year before getting designated for assignment.
• The Padres designated right-hander Neil Wagner for assignment. San Diego claimed Wagner off of waivers from the Athletics at the end May, but haven't promoted him to the MLB level.
• Jason Bartlett finds himself in search of a new home after being released by the Padres. The 32-year-old batted just .133/.240/.193 in 98 plate appearances, and overall batted only .231/.299/.292 in 168 games as a Padre.
• The Pirates released Juan Cruz after he cleared waivers and refused an assignment to Triple-A Indianapolis. The 33-year-old appeared in 43 games for the Pirates, posting a 2.78 ERA with 8.3 K/9 and 4.8 BB/9 in 35 2/3 innings.
• The Dodgers signed left-hander Julio Urias. Urias, a 16-year-old from Mexico, signed for an unknown amount that will only partially count against the Dodgers’ $2.9MM spending pool for 2012-13. 
• Right-hander Miguel Socolovich's headed to the Cubs after the franchise claimed him off of waivers from the Orioles and designated catcher Blake Lalli for assignment to create roster space for Socolovich.
• The Padres claimed right-hander Thad Weber from Detroit. Weber, 27, made his MLB debut this year, appearing in two games for the Tigers in April. The team also designated outfielder Jeremy Hermida for assignment. Hermida signed a one-year, $800K contract with the Padres last offseason only to spend considerable time on the disabled list with a strained hip flexor.
• The Brewers released left-hander Randy Wolf. Wolf led the National League in hits and earned runs this year, the final season of his three-year contract with Milwaukee.
• Cesar Izturis elected free agency instead of accepting an assignment to the minor leagues. Izturis posted a .241/.254/.343 batting line in 173 plate appearances for the Brewers and Nationals this year.
• The Athletics designated catcher Anthony Recker for assignment. The 28-year-old has a .265/.358/.435 batting line in 229 plate appearances at Triple-A this year.
• The Braves signed first baseman Lyle Overbay to a minor league contract. The 35-year-old posted a .292/.367/.448 batting line in 110 plate appearances with Arizona this year.