Kerry Wood Traded to New YorkWe aren't done... With a half hour left until the MLB Trade Deadline at 4 PM ET, the Yankees are on the verge of obtaining Kerry Wood from the Indians.
At about 3:20, Buster Olney came through that the Yankees were closing in on a deal for Wood and a few minutes after that said that the Indians would eat a large portion of Wood's remaining salary.
More details on their way.
3:46 ET: The deal is done with the MLB's approval of the money the Indians are sending the Yankees. Wait, what? Yeah it's weird. You would think if there is one team that would just take on all the salary that a player like Wood is still owed, it would be New York, but apparently not even the Yankees will take that on without the Indians picking some of it up.
Either way, I'm sure the Indians will save SOME money, which again could be turned around and thrown into the draft pick budget. Will the Indians get a player in the deal? Who knows, if they do, it probably will be no one of significance. At least in my opinion.
Wood is owed just short of $4 million on his contract for the rest of the season.
And in sort of a poetic justice, if that's what you want to call it, Chris Perez is on to save his first game as the official full-time closer. As I said earlier when Wood went on the DL, I believed that was the start of his reign as closer and that is indeed going to be the case.
3:48 ET: Jayson Stark says the Indians will get a PTBNL or cash.. Wait I thought the Indians were paying the Yankees? Or is it that the Indians will get some money back later if they don't want the player?
Either way, the Yankees could owe us two players... One of significant major league value according to Shapiro.
3:53 ET: Joel Sherman says the Yankees are picking up $1.5 million of the $3.6 million that Wood is owed. Meaning the Indians are picking up the other $2 million. You laugh but that million and a half can go towards two draft picks.
4:06 ET: Jayson Stark returns to say that the Yankees will pay an extra $200,000 if Wood remains healthy. If he "breaks down" it will be just the $1.5 million. Weird addition to this trade.
I think this could be it for this one.. I'll return if there is, but otherwise, full recap and all that fun stuff tomorrow morning on all the trades and all the roster moves in response to the trades throughout the organization.
4:18 ET: I continue to lie... Last one.. Castrovince says the Indians have until October 18th to select PTBNL or Cash.