The Phillies will deal Eaton to any team that will take on $1 million of the $9 million he is due for the final guaranteed season of a three-year contract. The Phillies want nothing in return.

Eaton was 4-8 with a 5.80 ERA this season and spent part of the year in the minors. The Phillies did not include him on the postseason roster. --Gerry Fraley

UPDATED 6:51 p.m. — Latest on Fuentes

Free-agent left-hander Brian Fuentes appears headed for a three-year, $33 million contract, major-league sources say, but the question is which club will give it to him.

The Cardinals might rather trade for someone more inexpensive, and the Brewers and Tigers also would figure to pass on that large of an investment in a closer.

That would leave the Angels, who likely would draw criticism if they paid Fuentes, 33, only $4 million less than the Mets awarded Francisco Rodriguez, 26, over three years.

Fuentes is less accomplished than Rodriguez, and the Angels would forfeit a first-round draft pick if they signed him. They could have kept Rodriguez without losing the pick.

Then again, Angels manager Mike Scioscia has always liked Fuentes, and the Angels tried to acquire him from the Rockies at the July 31 non-waiver deadline.

5:05 p.m. — Mets' trade offer shot down

The Mets, seeking a setup man for new closer Francisco Rodriguez, were rebuffed in their attempt to trade right Aaron Heilman to the Rockies for righty Huston Street.

Heilman has drawn interest from more than a dozen clubs. The Mets turned down the Cubs' offer of righty Jason Marquis. It seems inevitable, however, that the Mets will find a match.

Street, too, has drawn interest from numerous clubs. The Rockies have yet to receive a tempting offer.

5:00 p.m. — Astros shopping Wigginton

While the Astros are having trouble finding a taker for Miguel Tejada, they are also shopping Ty Wigginton as part of their effort to pare salary, and the most interest right now is from Arizona.

Wigginton, who played third base in Houston but played second a fair amount in 2004 and 2006-07, would replace free agent Orlando Hudson at second for the Diamondbacks.

The Dodgers had interest in Wigginton before re-signing Casey Blake, and Cleveland briefly considered him before deciding against it. Teams have told Houston they will consider Tejada if other options fall through. --Ed Price

4:28 p.m. — Source: Braves prepared to lose Smoltz

The Brewers, on the verge of losing free-agent left-hander CC Sabathia, do not plan to tear down their roster and trade players such as first baseman Prince Fielder and shortstop J.J. Hardy, general manager Doug Melvin said Wednesday morning.

"We'll make good baseball deals if they're out there," Melvin told FOXSports.com, "But our players are too talented and too young (to move). If you're trading guys in their first or second year of arbitration, you can't really build like that.

"We've got four players who were All-Stars in their first four years — Fielder, Hardy, (Corey) Hart and (Ryan Braun). They're talented players. We've got two good young pitchers — (Yovani) Gallardo and (Manny) Parra. We'll have to scramble for pitching a bit now." Full story...

11:51 a.m. — Official: Rockies, Embree agree

Colorado has reached an agreement with free-agent left-hander Alan Embree on a two-year deal, a club official said.

Embree, who will pitch next season at age 39, brings a durable arm to the Rockies' bullpen. He has made more than 60 appearances annually since 1999. --Gerry Fraley

3:00 a.m. — Cubs trying to fit Peavy in budget

The Cubs could make the deal for Peavy at any moment and fit him into their 2009 budget as long as they trimmed payroll in other areas, sources say.

One way to do that would be by trading right-hander Jason Marquis and possibly infielder/outfielder Mark DeRosa, then acquiring an inexpensive left-handed hitting outfielder.

General manager Jim Hendry, however, is reluctant to absorb the $63 million remaining on Peavy's contract through 2012 without some type of approval from whoever the new owner might be.

Such approval should not be impossible to obtain; the Cubs evidently had it when they awarded Hendry a four-year contract extension in October.

Thus, a trade still could happen before the completion of the sale, or even the identification of the new owner.

Padres general manager Kevin Towers sounded confident Tuesday that the discussions were moving forward.

The Cubs still need to move Marquis and are reluctant to move DeRosa to the Phillies, the third team in the discussions. But they would not allow their affection for DeRosa prevent them from getting Peavy

2:35 a.m. — Pirates looking to trade SS Wilson

Pittsburgh believes it will soon be able to trade veteran shortstop Jack Wilson.Kansas City, Oakland and the Los Angeles Dodgers are among a group of teams looking for a front-line shortstop. The Pirates want prospects in return to stock what is a thin minor-league system. --Gerry Fraley

12:01 a.m. — Source: BoSox meet with Teixeira's agent

According to a major-league source, Red Sox officials Tuesday night met with agent Scott Boras — presumably their first face-to-face talks on free-agent first baseman Mark Teixeira, whom Boston sees as a very good fit. Discussions with Boras could also include pitcher Derek Lowe. --Ed Price

More news and notes: Monday | Tuesday | Wednesday

Ken Rosenthal is FOXSports.com's senior baseball writer. Gerry Fraley writes baseball for FOXSports.com. Ed Price covers the Yankees for the Newark Star-Ledger.