Winter Meetings Review: Day 1

We're through one full day of the Winter Meetings, and several significant free agents have already come off the board. Here's a recap of the top stories from amidst the flurry of action yesterday:

Transactions:

• The Giants kept Angel Pagan in the fold by re-signing their center fielder to a four-year deal worth $40MM.
• Mike Napoli won't be returning to the Rangers, nor will he primarily serve as a catcher anymore. The slugger reached an agreement on a three-year, $39MM contract with the Red Sox to serve as Boston's primary first baseman.
• The Rangers did, however, nab a significant free agent when they landed Joakim Soria on a two-year, $8MM contract. Soria figures to setup for Joe Nathan this year and could inherit the ninth inning in 2014.
• Jason Marquis will be returning to the Padres in 2013 after signing a one-year deal worth $3MM — the same guarantee he received from the Twins last season.
• The Rangers retained midseason acquisition Geovany Soto by signing him to a one-year deal that guarantees the former NL Rookie of the Year $2.75MM with another $250K of incentives.
• James Loney signed a one-year deal with the Rays that guarantees him $2MM and contains another $1MM worth of incentives.

Rumors:

• The Yankees will be without Alex Rodriguez for the majority of the season's first half in 2013 as the former MVP will undergo left hip surgery this offseason and need 4-6 months of recovery time.
• The Red Sox, Phillies and Brewers were all linked to Josh Hamilton, but it's the Mariners who reportedly met with the market's top position player most recently.
• The Mariners are also discussing Justin Upton with the Diamondbacks. Talks with the Rangers appear to be stalled, as Arizona is still demanding Elvis Andrus be included in any deal. The D-backs are also discussing Jason Kubel trade scenarios.
• Eight teams met with the Mets about R.A. Dickey, but the price is reported to be sky-high.
• The Angels are in on Edwin Jackson and could also re-visit discussions with Dan Haren despite declining his option.
• Shane Victorino has multiple three-year offers on the table and even has a four-year offer to consider. As many as seven teams have been linked to the Flyin' Hawaiian.
• Ryan Dempster is seeking a three-year contract and is expected to draw interest from the Brewers, Diamondbacks, and Twins.
• The Nationals have shown interest in trading for James Shields and have discussed both Danny Espinosa and Mike Morse with the Rays.
• The Nationals also added a pair of lefty relievers when they inked Zach Duke to a Major League contract and added Bill Bray on a minor league deal.
• The Dodgers are shopping Dee Gordon, but they will only part with the promising young shortstop in exchange for a "significant" return.
• The Reds have an offer on the table for Ryan Ludwick and will meet with their former left fielder's agent today.
• The Mariners and Orioles are both very interested in Billy Butler, but the Royals aren't keen on dealing him unless it's for impact Major League pitching.
• The Marlins are shopping Yunel Escobar and several teams — including the Rays, Athletics, Cubs, and Yankees – are interested. Ricky Nolasco is also said to want out of Miami.
• Multiple teams have placed calls to the Astros about Bud Norris, who is arbitration eligible for the first time this offseason.
• The Indians are looking for a package of four prospects in return for Asdrubal Cabrera. A deal that would have sent Cabrera out of Cleveland in exchange for an MLB pitcher and two prospects fell apart when the Tribe asked for a third minor leaguer to be included.
• The Yankees are willing to listen to offers for Curtis Granderson.