Follow the winter meetings in Indy

BY foxsports • December 8, 2009

The winter meetings are under way. Who's going where? Follow along as our team of Ken Rosenthal, Jon Paul Morosi and Tracy Ringolsby breaks the latest news from Indy. Note: all times ET.

Monday's latest news and notes

Valverde rejects arbitration offer — 11:56 p.m.

Free-agent right-hander Jose Valverde declined the Astros' offer of salary arbitration shortly before Monday's midnight deadline.

The Braves' Rafael Soriano, Rockies' Rafael Betancourt and Twins' Carl Pavano accepted arbitration offers, remaining with their current teams.

Valverde's agents, by rejecting arbitration, evidently believe that the closer can land a multiyear deal even though he is a Type A free agent who will cost the team that signs him a high draft pick.

Soriano's agents faced an extremely difficult decision — accept the Braves' one-year, non-guaranteed offer and a lesser role in their bullpen, or gamble on landing an attractive multi-year trade despite his Type A status.

The Braves expect that Soriano might request a trade rather than pitch in the middle innings in front of their new setup man, Takashi Saito, and closer, Billy Wagner.

The Braves will be motivated to move Soriano rather than pay him in the $7 million range in arbitration. His appeal to other teams will increase due to his non-guaranteed deal — and the fact that a team will not need to forfeit a draft pick as compensation.

Soriano, because he is a free agent, cannot be traded before June 15 without his permission. But he might grant that permission to go to a club that would use him in his familiar late-inning role. -- Ken Rosenthal

Pavano accepts arbitration from Twins — 11:49 p.m.

Free-agent right-hander Carl Pavano accepted salary arbitration from the Twins on Monday night, armed with some encouraging news.

Brad Penny, another free-agent right-hander, is on the verge of signing a one-year contract with the Cardinals for $7.5 million.

Pavano can use Penny as a comparable in the arbitration process. The two had similar seasons.

Pavano went 14-12 with a 5.10 ERA for the Indians and Twins, pitching 199 1/3 innings.

Penny went 11-9 with a 4.88 ERA for the Red Sox and Giants, pitching 173 1/3 innings.

Pavano earned $4.35 million last season. -- Ken Rosenthal

Sources: Yanks have discussed big trade — 10:46 p.m.

This would be a blockbuster.

The Yankees, Diamondbacks and Tigers have discussed a three-way trade that would send Tigers center fielder Curtis Granderson to New York and right-hander Edwin Jackson to Arizona, major-league sources say.

The talks are at an impasse, according to one source. The proposed deal is being pushed by the D-Backs, but was rejected by at least one of the two other teams, the source says.

While trade talks are fluid and the names involved could change, sources say the following scenario is under discussion:

• The Yankees would receive Granderson from the Tigers and one or two prospects from the Diamondbacks.

• The Diamondbacks would get Jackson from the Tigers and right-hander Ian Kennedy from the Yankees.

• The Tigers would get right-hander Max Scherzer from the Diamondbacks, and center fielder Austin Jackson and left-handed relievers Phil Coke and Michael Dunn from the Yankees. -- Ken Rosenthal and Jon Paul Morosi

M's pursuing yet another Angel — 9:44 p.m.

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