Jon Heyman of SI.com says that the Phillies, Mariners and Blue Jays have agreed to a deal that will send Halladay to Philadelphia, Cliff Lee to Seattle and prospects from both teams to Toronto.

The Philadelphia Inquirer is reporting that Blue Jays ace Roy Halladay is in Philadelphia and possibly negotiating a long term deal in anticipation of a blockbuster deal that will make Halladay a Phillie.

Toronto Blue Jays pitcher Roy Halladay and his agent have checked into a Philadelphia-area hotel, according to two Inquirer sources.

It is not known if a trade sending Halladay to the Phillies is imminent, but if Halladay and the Phils are negotiating–as is indicated by the pitcher’s presence in Philadelphia–that would suggest that the Phils and Blue Jays are far enough along in talks for Halladay to discuss a potential contract extension with the Phils. Halladay has one year remaining on his contract before becoming a free agent.

The Phillies have been after Halladay since last season when they were actively involved in trade talks at last season’s trade deadline.

Obviously this is a big move for the Phillies who get one of baseball’s best starting pitchers for a long term deal in Halladay, in exchange for Cliff Lee who had only one year left on his contract.

This news is breaking and evolving quickly so I’ll try to keep updating this post with any new information as it comes in.

Wow… The dominoes are falling fast and the Mets are still sitting on the sidelines waiting for responses to below market offers that will probably be rejected.