Update: MLB.com’s Atlanta beat writer Mark Bowman claims the Braves are NOT in fact interested in Penny stating:

“contrary to an ESPN.com report, a Major League source said that the Braves don’t have any interest in acquiring Brad Penny from the Red Sox. ” and that “the Braves won’t be among the teams showing interest in the big right-hander. “

The Atlanta Braves are interested in acquiring Boston Red Sox pitcher Brad Penny, according to unnamed sources cited by ESPN’s Buster Olney.

Penny’s name has been floated in just about every rumor involving the Red Sox but it appears there may be something to this one as the Red Sox have been evaluating Brave outfielder Jeff Francoeur.

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The Boston Red Sox are reportedly showing interest in the Milwaukee Brewers’ shortstop JJ Hardy.

Tom Haudricourt reported via Twitter that the Brewers would “have to get a very good pitcher in return to think of doing that.”

Update: Haudricourt has added:

“I don’t think the Brewers would trade Hardy. He’s one of those “glue” players that holds team together. Would have to be a blockbuster.”

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The Los Angeles Dodgers’ star slugger Manny Ramirez has reportedly tested positive for performance enhancing drugs and will be suspended by Major League Baseball for 50 games.

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The Boston Red Sox have reportedly agreed on a 4 year extension with first baseman Kevin Youkilis, avoiding arbitration with the slugger for the second straight year. And, just like last year when Youkilis went from $350,00 to a salary of $3,000,00 he’s in for a big raise. The deal is worth $41 million and includes a club option for a 5th year at $13 million.

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The Boston Red Sox have reportedly signed former Dodger closer Takashi Saito to a one year deal with a team option for next season. Saito is a fairly significant injury risk so the deal is heavily incentivized, with the guaranteed portion worth reportedly $1.5-$2.5 million and potentially worth more than $7 million.

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The Boston Red Sox appear to be on the verge of signing both John Smoltz and Rocco Baldelli to one year deals with a heavy emphasis on performance incentives.

Smoltz and the Sox have reportedly agreed to a one year deal for the veteran pitcher who is coming off shoulder surgery last June. The deal will pay the long time Brave a guaranteed $5.5 million and include incentives that could be worth up to $5 million more.

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The New York Yankees have reportedly reached an agreement with free agent first baseman Mark Teixeira on an eight year deal worth $180 million.

The Yankees’ bitter rivals, the Boston Red Sox had been favored to land the slugger but the Bronx Bombers once again won the war of the pocketbooks. Teixeira’s deal takes the Yankees’ off season tab up to $423.5 million to three players over an 8 year period, and also gives the team famous for it’s spending, the 4 highest paid players in the game (Teixeira, Sabathia, Jeter, and Rodriguez).

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The Free Agent pool of players got a bit bigger at midnight on Friday when players who were not tendered contract offers from their teams became free agents. I’ve broken the list down by position and as you can see, there are a few surprises here including former Dodgers closer Takashi Saito (2.49 ERA and 18 saves) and Nationals starter Tim Redding (10 wins).

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The New York Yankees continued their offseason spending spree, signing AJ Burnett to a 5 year deal worth $82.5 million. The Yankees appear to be capitalizing on the down turn in the economy, going on a historic spending spree while the rest of the league has been cutting costs and keeping a sharp eye on their bottom line. Earlier this week the Yanks inked CC Sabathia to a 7 year, $161 million deal, the largest ever contract for a pitcher. The latest signing is pending a physical which is usually a formality, however, with the injury prone Burnett there are no guarantees.

If you thought committing a total of $243.5 million over the next 7 years would take the Yankees out of shopping mode, think again. The New York Post reports that they’ve now joined the bidding for first baseman Mark Teixeira, with Manny Ramirez as a backup option should they lose out on the switch hitting first baseman.

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Ken Rosenthal is reporting that the Atlanta Braves are prepared to lose long time pitcher John Smoltz if another team is willing to give the veteran hurler a guaranteed deal. Smoltz has had a long list of surgeries on his throwing arm, most recently a shoulder surgery in June, and the Braves are apparently only willing to give him an incentive laden deal.

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