Pedro Martinez reportedly signs 1yr deal with Phillies

[gmq]

Halladay will be a Phillie. Just you watch motha ucka! Exciting.

[skjelstrom]

Signing Pedro does not affect the deal with Halladay. If the Phillies want to part with the pieces to get Halladay then they will get him regardless of signing Pedro.

from MLB:

Amaro also said Martinez's arrival would not preclude them from making other moves, including the pursuit of Blue Jays right-hander Roy Halladay.

[Wharton93]

Pedro hasn't been "high reward" since 2005. It is low risk, though.