Source: Phils to sign Madson for 3 years  —  One day after locking up No. 1 starter Cole Hamels for the next three years, the Philadelphia Phillies are on the verge of doing the same with their top set-up man, Ryan Madson.  —  Madson  —  The team and Madson have agreed to a three-year …

Hernandez gets $3.8 million from M's  —  The Seattle Mariners have signed pitcher Felix Hernandez, who was eligible for arbitration for the first time, to a one-year contract worth $3.8 million.  —  The Mariners and the right-hander have explored multiyear deals over the last two offseasons, but without success.

O's lock up Markakis  —  Sources: Club finalizes six-year, $66 million extension with right fielder  —  The Orioles have finalized a six-year, $66 million contract extension with outfielder Nick Markakis, according to baseball sources.  Markakis will be in Baltimore later this week to take a routine physical and to sign the contract.

Another trade (updated again)  —  The Orioles have dealt reliever Randor Bierd, last year's Rule 5 pick, to the Boston Red Sox for right-hander David Pauley.  —  At least the teams aren't afraid to trade within the division.  —  The San Diego Padres selected Pauley, 25, in the eighth round of the 2001 draft.

Cards Agree to Terms with Wellemeyer and Duncan  —  The St. Louis Cardinals agreed to terms today with pitcher Todd Wellemeyer and outfielder Chris Duncan, avoiding salary arbitration with both players.  Financial terms of the contracts were not released.  —  Wellemeyer and Duncan represent …

Zim: I've recovered from stroke  —  Despite a recent health scare, Don Zimmer believes he'll be back in uniform next month to add another digit to his Rays' jersey number and bring it to 61 - one for each season he's been in baseball.  —  Last month, Zimmer says he suffered a “small stroke” …

Source: Rockies sign RHP Street  —  The Colorado Rockies have signed right-handed reliever Huston Street to a one-year, $4.5 million contract to avoid arbitration, a Major League Baseball source said Monday.  —  Street  —  The deal also includes All-Star and award bonuses.

Marlins find slim pickings behind plate  —  Florida has Baker, but is hoping to land experienced depth  —  MIAMI — Speculation has the Marlins weighing whether to pursue Andruw Jones, but according to a baseball source, the team's bigger priority remains finding catching depth.

ChiSox sign Jenks for 1-year, $5.6M  —  The White Sox have signed closer Bobby Jenks to a record-setting one-year, $5.6 million contract.  —  Jenks  —  The $5.6 million is the highest salary in history by a closer who was arbitration-eligible for the first time, at least for the moment.

Understanding the Real Value of MLBAM and MLB Network  —  On New Year's Day, approximately 50 million households witnessed the largest cable channel launch to date in the MLB Network, and with it, a new spigot of revenues for the league was born.  And, much like MLB Advanced Media …

Wrigley seat licenses?  —  Selling seat licenses was termed a “possibility” by Cubs management  —  Most of the first two days of the 2009 Cubs Convention were devoted to dissecting the painful past and looking ahead to the potential of a better ending next October.

Reds look to fine-tune their pitching  —  One rotation spot up for grabs as Spring Training draws nearer  —  CINCINNATI — Can anyone remember an offseason in which the Reds weren't feverishly trying to make acquisitions and improvements to their rotation?

Edgar Martinez is eligible for the Hall of Fame starting with the 2010 ballot  —  Edgar Martinez is on the Cooperstown clock.  —  The beloved ex-Mariner can hardly believe his five-year waiting period for Hall of Fame consideration will expire after the 2009 season.