Source: Red Sox would have to move payroll in order to sign Roy Oswalt  —  Despite a FoxSports.com report that the Red Sox have “maintained active dialogue” with Roy Oswalt's agent, Bob Garber, the likelihood of the team signing the 34-year-old remains in doubt.

Rockies trade Smith to Oakland for two pitchers; offer deal to Jamie Moyer  —  Seth Smith spent the winter in wonderland.  On Monday, the questions and uncertainty ended.  —  With the outfielder viewed as a luxury item after the signing of free agent Michael Cuddyer, Smith was traded …

Angels, Callaspo agree on one-year deal  —  ANAHEIM — The Angels agreed to a one-year contract with infielder Alberto Callaspo on Monday, thereby avoiding arbitration.  —  The deal is worth $3.15 million, according to a source, which is slightly higher than the reported figure Kendrys Morales agreed to …

Report: Angel Pagan, Giants agree  —  SAN FRANCSICO — The San Francisco Giants and outfielder Angel Pagan agreed to a $4.85 million, one-year contract that avoided arbitration, a person with knowledge of the negotiations said.  —  The person spoke on condition of anonymity Monday because the club hadn't formally announced the deal.

Yankees eye Damon as DH  —  With the Yankees in the market for a designated hitter now that Jesus Montero is heading to Seattle, they are looking at a number of options and reportedly already reached out to Johnny Damon and Carlos Pena.  —  Since they already added $10 million to the payroll …

Howell deal set for $1.35M, 4 still arbitration eligible  —  LHP J.P. Howell and the Rays [are finalizing] have completed a one-year deal for $1.35-million to avoid arbitration.  —  Howell also gets incentive bonuses for 45 and 60 innings pitched, which can push the total value to $1.4-million.

Puerto Rico Traces Decline in Prospects to Baseball Draft  —  Ivan Rodriguez at bat.  Mr. Rodriguez, 41, is currently a free agent and playing for one of the Puerto Rican Winter League's four teams.  He is the last active Puerto Rican major leaguer to avoid the draft.  More Photos »

Prospect Watch: Top 10 right-handed pitchers  —  Pair of Pirates, D-backs among game's up-and-coming aces … On the 2011 list of Top 10 right-handed pitchers, there was the American League Rookie of the Year and the hurler who finished fifth in that voting.  Seven of the 10 pitched in the big leagues.

Reds To Sign Ryan Ludwick  —  The Reds have agreed to sign free agent outfielder Ryan Ludwick to a one-year deal that includes a mutual option for 2013, Ken Rosenthal of FOX Sports tweets.  Ludwick gets a $2.5MM guarantee and could earn another $500K in incentives, Jon Heyman of CBSSports.com tweets.

Josh Hamilton's father-in-law backs out  —  Michael Dean Chadwick has reconsidered being the accountability partner to son-in-law Josh Hamilton because of family considerations.  Hamilton said over the weekend that Chadwick, who lives in North Carolina, has a daughter who is finishing up high school.

Mets' rebuilding efforts are upside-down  —  Editor's note: Yahoo! Sports will examine the offseason of every MLB team before spring training begins in mid-February.  Our series continues with the New York Mets.  —  2011 record: 77-85  —  Finish: Fourth place, NL East  —  2011 final payroll: $142.2 million