Source: Yankees don't regret spending spree  —  The Yankees have no regrets about their December spending spree, a source said Wednesday, despite criticism from other clubs.  But their winter pickups may be done, perhaps leaving no room for Andy Pettitte.  —  The Yankees are comfortable …

Derek Lowe closing in on deal with Mets  —  According to a baseball source, The New York Mets appear to be closing in on a deal for free-agent pitcher Derek Lowe.  —  The deal is believed to be four years in length, or three years with a vesting option.  The contract is estimated to be worth between $14-16 million per season.

Times Co. Seeking to Sell Its Stake in the Red Sox  —  The New York Times Company is trying to sell its stake in the Boston Red Sox baseball team, seeking to raise cash and shield its newspaper franchise from rapidly falling revenue, a person briefed on the plans said on Wednesday.

No deal for Youkilis  —  Kevin Youkilis and the Red Sox will not reach a long-term contract agreement this offseason, said Joe Bick, Youkilis's agent.  Youkilis and the team have discussed a possible long-term contract this winter, but the sides currently stand too far apart for a deal to be finished before the 2009 season.

Padres sign three pitchers to stock staff  —  Ex-Giant Correia to vie for rotation spot; infielder Rodriguez returns  —  SAN DIEGO — Limited by a tight budget, Padres general manager Kevin Towers said a week ago that he hoped to restock his pitching staff with a few free-agent bargains in the weeks leading up to Spring Training.

Yankees Defend Spending as Almost a Public Service  —  Do not hold your breath if you are expecting the Yankees to feel apologetic about all the money they are spending.  After the team's third major off-season signing, the Yankees' president, Randy Levine, surveyed the criticism of the club and said …

Dickey's decision: Better opportunity with the Twins  —  The Seattle Mariners offered R.A. Dickey potentially better money than any other team in 2009, but the greater opportunity to pitch in the big leagues was more important.  —  That's why Dickey, the knuckleball pitcher who spent …

Dragons lose new manager  —  DAYTON — Jamie Dismuke, who was to manage the Dayton Dragons this summer, has instead taken a job as hitting coach for the Class AAA Gwinnett (Ga.) Braves in the Atlanta Braves organization.  —  “It's a better situation for me,” said Dismuke …

Nelson to the Rays  —  Reliever Joe Nelson is a Tampa Bay Ray.  —  On Wednesday, the right-hander, whom the Marlins non-tendered, agreed to terms on a one-year deal for $1.3 million.  —  Nelson was contacted by 20 teams after the Marlins parted company with the 34-year-old reliever …

Brewers Owner Suggests Salary Cap After Yankees Sign Teixeira  —  A A A  —  Dec. 23 (Bloomberg) — Milwaukee Brewers owner Mark Attanasio said Major League Baseball may need to impose a salary cap to preserve competition after the New York Yankees spent $424 million to sign three players.