Michael Saunders

9:15pm: After going through several incarnations over the last 48 hours, the latest version of the deal has outfielder Michael Taylor, catching prospect Travis D'Arnaud, and a pitcher – either J.A. Happ or Kyle Drabek – going to Toronto, writes Stark in his latest update.

Under this scenario, the Phillies would get to hang on to Domonic Brown and would recieve Phillippe Aumont.

8:26pm:  Check that.  Aumont is in the deal, but heading to the Phillies rather than the Jays, says Elliott (via Twitter).

7:51pm: Elliott says (via Twitter) that Drabek is in the deal, but Aumont is not.

7:11pm: M's shortstop prospect Carlos Triunfel could be in the deal in place of Saunders, tweets Jonathan Mayo of MLB.com.

7:04pm: Drabek and "other top [Phillies] prospects" will be involved in the deal, according to Jim Salisbury of CSNPhilly.com (via Twitter).  According to Salisbury, Brown will remain with the club.

6:55pm: J.A. Happ and Joe Blanton took physicals and could be a part of the deal, writes Rob Maaddi of the Associated Press.  Domonic Brown also took a physical today, who is said to be coveted by the Jays.

6:46pm: "People" tell Bob Elliott of the Toronto Sun that Aumont is not a part of the deal (via Twitter).

6:18pm: An interesting update to Jayson Stark's article.  Prior to turning to the M's, the Phillies first attempted to complete a two-team deal with Toronto alone for Halladay.  However, when Philly refused to include their top pitching prospect Kyle Drabek – as they did last summer – they got Seattle involved.

The Phillies also tried to move Joe Blanton in an effort to make space on the payroll for Doc – but couldn't get enough back to allow them to make a Halladay deal.  Stark also adds that the team did no actual negotiating with Lee on an extension but had heard that he was seeking a C.C. Sabathia-type contract. This was apparently enough to put a scare into Ruben Amaro Jr. & Co.

5:20pm: Jon Heyman (via Twitter) hears that Morrow may not be leaving Seattle after all.  He also hears that Aumont is likely involved the trade and "perhaps" Saunders as well.  

5:00pm: ESPN's Jayson Stark heard this deal is close but not done.  He says Halladay's extension would be just three years and $60MM (starting in 2011), with possible vesting options for another year or two.  Aside from Aumont, the M's would also give up two others in the deal.  The Jays would get Phils catching prospect Travis D'Arnaud and Domonic Brown or Michael Taylor plus one other player.  The Blue Jays prefer Brown.

3:56pm: Rosenthal and Morosi write that pitcher Phillippe Aumont of the Mariners and "possibly" outfielder Michael Taylor of the Phillies are among the players heading to Toronto in the trade.  They add that outfielder Michael Saunders and pitcher Brandon Morrow are "in play."  The FOX duo confirms an agreement is in place to send Halladay to the Phillies and Lee to the Mariners.  MLB.com's Jordan Bastian sees an official announcement Wednesday at the earliest. 

3:17pm: In an article, Heyman notes that Halladay's extension "is expected to be a formality" (though it may not be done today).  Heyman appears certain that an agreement has been reached on a Phillies/Jays/Mariners deal that will net the Phils Halladay.  Lee's agent Darek Braunecker hasn't heard anything, tweets Tyler Kepner of the New York Times.

2:56pm: Heyman tweets that a three-way deal has been agreed to with Halladay going to the Phillies and Lee to the Mariners.  The Phillies are now trying to sign Halladay to an extension.  However, in a subsequent tweet, Heyman apologizes for a quick trigger finger and says that while the Ms are confirmed as the third team he is checking to verify they'll get Lee.  And MLB.com's Noah Coslov has no confirmed deal from Lee or the Ms.

2:36pm: Morosi tweets that MLB hasn't granted the Phils permission to negotiate with Halladay yet, but a deal "looks close."

1:49pm: CSN's Jim Salisbury reports today that the Phillies are "actively talking" about a contract extension with Roy Halladay's agent, according to two baseball sources.  One of those sources told Salisbury Doc is likely to take a physical with the Phillies this week.  The Philadelphia Inquirer's Andy Martino adds that Halladay and his agent have checked into a Philadelphia-area hotel.

What's more, Salisbury writes of "indications that pitcher Cliff Lee could be traded."  SI's Jon Heyman wrote today that Lee would take no discount to sign an extension.  Ken Rosenthal and Jon Paul Morosi of FOX Sports write that "a three-team blockbuster that would send Halladay to the Phillies and Lee to another club is under discussion."  They add that the Mariners have "contemplated dealing for Lee in recent days," but a straight Phillies-Jays trade is also possible.  The writers say these complex talks involve the Phils receiving money to put toward Halladay's $15.75MM salary next year.

Questions: would Halladay command a C.C. Sabathia contract, even though he'll be 33 in May? (The New York Post's Joel Sherman suggests Halladay would take less to play for the Phillies).  And which teams could match up for Lee aside from the Mariners?  The Angels, Dodgers, Brewers, Rangers, Rays, and Red Sox were linked to Lee in July trade talks, but things have changed since then.