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.

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.

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.

Piazza close to deal with A's, who add Embree  —  LAKE BUENA VISTA, Fla. — The Oakland Athletics and left-handed reliever Alan Embree agreed to terms on a two-year contract Wednesday, and the club also was closing in on a deal with Mike Piazza to be designated hitter.

Sox break bank — Agree with Drew, Lugo; Ramirez talks may be dead  —  LAKE BUENA VISTA, Fla. - Not long after announcing an agreement in principle with outfielder J.D. Drew [stats], the Red Sox [team stats] continued an aggressive offseason spending spree last night by coming to terms …

Mets to meet with A's, seek Harden  —  LAKE BUENA VISTA, Fla. — The Mets are expected to meet with Oakland today about acquiring right-hander Rich Harden or possibly another of the A's top starting pitchers, SI.com has learned.  —  A's GM Billy Beane is due to arrive here Wednesday night.

Nats' Risky Business  —  The Nationals live in the future, not the present.  They wish you would, too.  It'd make their lives much easier.  And cheaper, too.  —  After losing 21 percent of their attendance last season, their second in Washington, the Nats now want to roll the dice with the affections of their paying public.

All is not Wells for Williams  —  White Sox GM sits tight, with his eye out for a young pitcher  —  ORLANDO — On Ken Williams' side of the table, the chips are stacked high, like the skyline of Chicago.  Other players eye him enviously, waiting to see how he will play his hand.

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 …

Old ace, new deal  —  Maddux, Padres reach agreement on $10 million deal  —  Pitcher Jake Peavy says the Padres became a better, smarter team yesterday when his friend Greg Maddux and the club reached a preliminary agreement on a one-year, $10 million contract.

Brewers turn attention to trade market  —  Free agent landscape steers Melvin toward alternate options  —  LAKE BUENA VISTA, Fla. — Unable to compete in the soaring free agent market, Brewers general manager Doug Melvin is looking to swing some trades before these Winter Meetings adjourn on Thursday.

Post-Dispatch's Hummel named to Hall of Fame  —  The Baseball Writers Association of America this morning announced Post-Dispatch baseball columnist Rick Hummel as winner of the Spink Award, and with it enshrinement into the writers' wing of the National Baseball Hall of Fame.