Cubs ink Lilly to four-year deal  —  ORLANDO, Fla. - The Cubs continued their off-season spending spree Wednesday, reaching preliminary agreement with free-agent left-hander Ted Lilly on a four-year, $40 million contract, FOXSports.com has learned.  —  Lilly, who turns 31 on Jan. 4, becomes the Cubs' first major pitching acquisition.

Braves' top-heavy payroll presents problems  —  You want to know why the Braves must trade Marcus Giles and/or Adam LaRoche in order to improve their pitching staff and stay within budget?  I'll tell you.  Rather, I'll show you.  —  Because seven guys are eating up 80 percent or slightly more of the $80 million payroll.

Nats Are Unmoved by Early Trade Offers for Cordero  —  In the teeming lobby of the Dolphin hotel at Disney World, the discussion among club executives, agents and innocent bystanders during baseball's winter meetings centers largely on the concept of "value" in an ever-escalating market.

Phils make a deal for Freddy Garcia  —  LAKE BUENA VISTA, Fla. - The Phillies pulled off a trade for a starting pitcher at baseball's winter meetings tonight, acquiring Freddy Garcia from the Chicago White Sox for pitchers Gavin Floyd and Gio Gonzalez.  —  Garcia, 30, is 116-71 in an eight …

Yanks Appear Closer to Signing Pettitte  —  The Yankees' solution for their immediate future may come from their recent past.  Andy Pettitte is committed to pitching again, and Roger Clemens could eventually join him for a reunion with the Yankees.  —  Pettitte could still return …

Dodgers reach agreement with Schmidt  —  ORLANDO, Fla. - The Dodgers have landed the biggest free-agent pitching prize to date, reaching a preliminary agreement on a three-year, $47 million contract with right-hander Jason Schmidt, FOXSports.com has learned.

A's appear on verge of signing Piazza  —  ORLANDO, Fla. — The Rangers are out of the bidding for Mike Piazza, the strongest indication yet that the A's are on the verge of signing the free-agent catcher, FOXSports.com has learned.  —  Piazza, 38, would be the A's full-time designated hitter …

Will Bonds leave Giants?  It's a mystery … LAKE BUENA VISTA, Fla. — The mystery guest of the winter meetings headed off to meet his mystery suitor Wednesday.  And for winter-meetings melodrama, you can't beat a cameo appearance by Barry Bonds himself.  —  But even though Bonds' agent …

Brewers rumors carry little substance  —  Hottest discussion involves status of club's Rule 5 Draft pick  —  LAKE BUENA VISTA, Fla. — No face-to-face meetings and only four phone calls, all to investigate rumors that proved to be nothing.  It was another very quiet day for the Brewers' contingent at the baseball Winter Meetings.

Helton deal appears unlikely for Angels  —  Trade with Rockies nearly happened, but L.A. had concerns about first baseman's age, health  —  LAKE BUENA VISTA, FLA. — The Angels nearly made what General Manager Bill Stoneman called the "big splash," a deal that would have fulfilled owner …