The Chicago Cubs finished out 2008 by trading super-sub Mark DeRosa to the Cleveland Indians for three minor league pitchers and signed former St. Louis Cardinal, Aaron Miles, to replace him. Miles’ deal is a 2 year agreement reportedly worth $4.9 million. Along with the three young hurlers, right-handed closer Jeff Stevens, right-hander Chris Archer and south-paw John Gaub, the Cubs gained more payroll flexibility for next year with DeRosa due $5.5 million next year.

That payroll, along with the savings from trading starting pitcher Jason Marquis, was used, as expected to ink the switch-hitting outfielder, Milton Bradley to a 3 year deal worth $30 million.

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I’m a bit behind on the rumor and trade news so I’ll try to catch you up today.

The Mets, Mariners, and Indians got together on a three team deal that sent a total of 12 players to new teams.

The Mets acquired former All-Star closer JJ Putz, outfielder Jeremy Reed, and reliever Sean Green while giving up Aaron Heilman, Endy Chavez, Jason Vargas, Joe Smith, and three minor leaguers. Putz figures to slide into the setup role for newly signed closer Francisco Rodriguez. With two top flight closers finishing out games, the Mets hope to avoid the late inning collapses that plagued them last year.

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The Cleveland Indians have reportedly agreed to terms on a two year deal with former Cubs closer, Kerry Wood. The deal is believed to be worth nearly $20 million and have a vesting option for a third should the oft-injured pitcher reach certain performance incentives.

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Teams have until midnight eastern time tonight to extend offers of arbitration to their free agents and I’ll be updating this page as often as news becomes available about teams’ arbitration actions.

Update

The offers are all in, and according to the AP only 24 players were offered arbitration. The list is as follows:

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The Cleveland Indians have dealt ace pitcher, and reigning Cy Young award winner, CC Sabathia to the Milwaukee Brewers for a package of 4 prospects. The Brewers will now have one of the best 1-2 punches in the league by pairing Sabathia with ace Ben Sheets. However, the Brew Crew also gave up an impressive [...]

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Steve Phillips checks in from the winter meetings with this tidbit:
There are rumblings that the Pirates could trade left fielder Jason Bay to the Indians for catcher Kelly Shoppach and left-hander Cliff Lee
At first blush I’d have to say that deal favors the Indians considerably. While Bay hit a career low .247 last year, he’s [...]

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