Hot Stove Update: Cliff Lee, George Sherrill, Zach Greinke, Carlos Pena, J.J. Putz, Jeff Francoeur

Done Deals

The Diamondbacks signed J.J. Putz to a two-year, $10MM deal with an option for 2013. The former Met passed his physical and will earn $4MM in 2011, $4.5MM in 2012 and either $6.5MM or a $1.5MM buyout in 2013. Last season, Putz posted a 2.83 ERA in 54 innings.

The Chicago Cubs have officially agreed to terms on a one-year deal with Carlos Pena. It is believed to be worth $10MM, half of which is deferred. That’s still a big haul for Pena who batted .196 last season despite hitting 28 homeruns.

The White Sox reached an agreement with first baseman Paul Konerko on a three-year deal, worth $37.5MM. The contract includes deferred money and has been officially announced by the White Sox.

The Royals announced they’ve reached an agreement with outfielder Jeff Francoeur on a one-year deal with a 2012 mutual option. Francoeur will receive a $2.5MM guarantee with another $500K in incentives and the option is worth $3MM. Francoeur, 26, has long been targeted by Royals GM Dayton Moore.

The Rockies signed Ty Wigginton to a two-year, $8MM deal with an option for 2013. Wigginton, 33, batted .248 last season with 22 home runs and 76 RBI in 581 AB last season for the Orioles in 2010.

The Pirates have signed outfielder Matt Diaz to a two-year deal, worth approximately $4.25M according to’s Jenifer Langosch. Diaz, 32, is a nice addition for the Bucs and in 1,554 career at-bats, he has maintained a .301 batting average and .806 OPS.

Latest Rumors

Jon Heyman reports that two teams may have offered Cliff Lee seven-year deals. The Yankees, Rangers, Angels, and Nationals have all denied making an a seven-year offer. The Rangers met with Lee’s agent again this morning, and reports say that the Yankees are going to make a very strong six-year offer in the $140-150MM range to Lee today.

According to Ken Davidoff of New York Newsday, the Yankees met with the agent for Pedro Feliciano on Wednesday. Feliciano has also drawn interest from the Red Sox and Phillies and it’s widely considered he will get a multi-year contract from one of those three.

According to Jerry Crasnick of, George Sherill is close to signing with the Braves. Sherrill, 33, is very effective against left-handed batters, will most likely fill a specialist role for the Braves.

According to Ken Rosenthal, five teams are seriously pursuing Zack Greinke. three of those teams are the Rangers, Dodgers, Nationals. The Blue Jays had been engaged too, but seemed to be turned off by the high price. The other two teams remain unknown. Ed Price adds the the Nationals are in hot pursuit.

According to Nick Piecoro, the Diamondbacks are very close to signing former Mets catcher Henry Blanco. It is expected to be a one-year contract. The D’Backs consider him to be solid defensively and highly regarded for his presence in the clubhouse. He would be a backup to Miguel Montero.

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I'm a lifelong Mets fan who loves writing and talking about the Amazins' 24/7. From the Miracle in 1969 to the magic of 1986, and even the near misses in '73, '00 and '15, I've experienced it all - the highs and the lows. I started Mets Merized Online in 2005 to feed my addiction and interact with other passionate Met fans like you. Follow me on Twitter @metsmerized.