According to mlbtraderumors . com the teams have agreed on a deal:
White Sox, Padres Agree To Peavy Trade
By Cork Gaines [May 21 at 10:11am CST]
10:11am: ESPN's Peter Gammons says Beckham is not part of the deal. CBS' Danny Knobler says it would be Poreda, Richard, and one or two others. The others would also be pitchers, says Knobler. Yahoo's Gordon Edes says the White Sox have agreed to send four pitching prospects including Poreda and Richard.
ESPN's Bruce Levine talked to White Sox pitcher and former Peavy teammate Scott Linebrink, who gave Peavy a 50-50 chance of accepting the deal.
9:39am: MLB.com's Corey Brock and Scott Merkin say Poreda and Clayton Richard are believed to be part of the deal.
9:19am: Jon Heyman says the White Sox and Padres have agreed to a Peavy trade, and await the pitcher's approval. MLB.com's Corey Brock agrees. Ken Williams, always operating under the radar. Now we get to see just how much Peavy hates the AL.
Peavy is owed an additional $8.35MM this year, $15MM in '10, $16MM in '11, $17MM in '12, and a $4MM buyout for '13. Total: $60.35MM guaranteed through 2012. It is surprising to see the White Sox willing to take on such a commitment to a pitcher.
No idea if he's involved, but yes, the Sox could trade Gordon Beckham in this deal as a player to be named later.
9:09am: Via Gonzales on Twitter: "Waiting for approval from Peavy on SD trade, according to source."
6:51am: Tom Krasovic of the San Diego Union-Tribune is reporting that the Padres are in discussions to send Jake Peavy to the White Sox.
According to Padres personnel, Peavy met with Padres manager Bud Black late Wednesday night to discuss a trade overture from the Sox.
It is apparently a four-player offer, which would presumably gut Chicago's farm system. Peavy would have to approve any trade and according to Krasovic Peavy is telling people that the trade is "something to think about." However, Krasovic says Peavy "may have reservations about pitching for Ozzie Guillen."
MLB.com's Corey Brock asked Peavy about the rumor. He said, "I only know what you guys [media] know." Brock expects the Padres would require a frontline pitcher like Aaron Poreda. Scot Gregor of the Daily Herald makes the Poreda link as well, but finds Peavy's contract prohibitive. Mark Gonzales of the Chicago Tribune says the Padres had a scout watching the White Sox last weekend in Toronto. Meanwhile, SI's Jon Heyman says Peavy still prefers the West or Midwest and the NL. Heyman likes the Cubs or Brewers.
Cork Gaines writes for RaysIndex.com and can be reached here. Tim Dierkes also contributed to this post.