Rumors Of Blockbuster Deal Involving Halladay And Lee Begin To Fly

For seamheads who love the Hot Stove season, consider Monday's action thus far a mere appetizer to the day's main course: FOXSports.com is reporting that the Blue Jays and Phillies are in discussions about a possible deal involving both Roy Halladay and Cliff Lee.

A three-team blockbuster that would send Blue Jays right-hander Roy Halladay to the Phillies and Phillies left-hander Cliff Lee to another club is under discussion, according to major-league sources.

A straight trade between the Phillies and Jays also is possible. Either way, there are strong indications that the Halladay talks are approaching a critical juncture.

The third team that could possibly acquire Lee is not yet known, but it would make sense if it was the Angles, since they appear likely to lose John Lackey to the Red Sox.

Halladay likely would agree to a contract extension with the Phillies to waive his no-trade clause. The Phillies would acquire prospects for Lee to help satisfy the Blue Jays' demands for Halladay, and also send prospects of their own to the Jays.

Lee, signed for one more year at $9 million, will be a free agent after next season. The Phillies are uncertain of whether they can sign him, but by acquiring Halladay - and locking him up with an extension - they would secure an ace long-term.

The trade is highly complex, sources say, with the Phillies receiving money from the Jays to help pay Halladay's salary next season. Halladay is owed $15.75 million, but that number could be negotiated down as part of a new contract agreement.

Adding more heat to this Hot Stove: the Philadelphia Inquirer is reporting that both Halladay and his agent have checked into a Philadelphia-area hotel.