The latest from the winter meetings

The winter meetings are under way in Lake Buena Vista, Fla. Stay tuned for the latest on trades, free-agent signings and the rumors we're hearing at Disney's Swan and Dolphin Resort:

All times ET

2:39 a.m., from Amy Nelson
Mark Loretta has been offered a two-year, $6 million contract from the Cincinnati Reds, according to a baseball source.

8:58 p.m., from Jerry Crasnick
• Free agent right-hander Vicente Padilla has reached a preliminary agreement on a $34 million, three-year contract with the Rangers, a baseball source said Monday night.

The deal is contingent upon Padilla passing a physical exam, which is expected to be administered in the coming days.

7:40 p.m., from Jerry Crasnick
Ted Lilly's agent Larry O'Brien arrived in Orlando on Monday afternoon and told ESPN.com that he plans to meet with front office executives from the Cubs, Giants, Yankees, Blue Jays and Mariners on Tuesday. O'Brien characterized speculation that Lilly has already agreed to a deal with the Cubs as "just a rumor." Lilly is seeking a four-year deal in the $35-40 million range, and the Cubs are among the clubs to have made him an offer. "We're beyond the preliminary stage [with the Cubs], but our discussions are ongoing," O'Brien said.

• The Devil Rays, searching for help at first base, have discussed bringing in free agent Darin Erstad for a look. Erstad appeared in just 40 games with the Angels last year because of injuries. But Tampa Bay manager Joe Maddon was known to be a big Erstad fan from their days together in Anaheim.

6:20 p.m., from Jerry Crasnick
• While Ted Lilly (Cubs) and Vicente Padilla (Rangers) moved closer to signing multiyear contracts, indications are that Jeff Suppan might remain on the market until after the winter meetings. Suppan is believed to be seeking at least $10 million a year on a multiyear deal and continues to attract interest from St. Louis and several other clubs.

• There's some buzz circulating that the Tigers might be willing to move outfielder Craig Monroe, who hit .255 with 28 homers in 147 games. The Tigers upgraded their offense recently with the addition of Gary Sheffield, and they need left-handed relief help with the departure of Jamie Walker through free agency.

• Craig Landis, the agent for outfielder Jay Payton, plans to meet with Billy Beane when the A's general manager arrives in town Wednesday. With lots of left-handed bats available (Luis Gonzalez, Cliff Floyd, Trot Nixon and Aubrey Huff, to name a few), Payton wins points because he's right-handed and extremely versatile. He started 62 games in left field, 46 in center and 45 in right last year for Oakland. Baltimore might have some interest as well, but the cost-conscious Washington Nationals backed off Payton because they think he's too expensive.

• The Nationals say that first baseman Nick Johnson will be ready to play by Opening Day, but his offseason rehab hasn't gone as well as the team might have hoped. Johnson broke his right leg in a September collision with outfielder Austin Kearns, then had arthroscopic surgery in early November to clean out scar tissue in his right knee.

• The Royals, who are interested in free-agent pitchers Gil Meche and Miguel Batista, talked to the agents for Ryan Franklin on Monday.

6:14 p.m., from Buster Olney
Joe Borowski will take his physical with the Indians' team doctor Tuesday. If Borowski signs, he won't automatically be the team's closer; he'll be among those competing for the job. The Indians are believed to be offering a one-year deal worth $4 million, a baseball source told ESPN The Magazine's Amy Nelson.

• The Indians are pursuing Octavio Dotel, among other free-agent relievers who have closer experience.

5:30 p.m., from Jayson Stark
• The Mets and Rangers are in the running for free-agent starter Vicente Padilla, who is weighing both three- and four-year offers. He's expected to decide soon.

• While no meeting has been scheduled, Cubs GM Jim Hendry and Ted Lilly's agent, Larry O'Brien, are expected to get in touch when O'Brien arrives at the meetings this evening.

4:15 p.m., from Peter Gammons
• The Dodgers and Mariners are in the hunt for Manny Ramirez.

• The Cubs are making a hard push for Ted Lilly. According to Steve Phillips, Lilly's agent will arrive later today.

• The Giants worked out Octavio Dotel in the Dominican Republic last weekend. Eleven teams made offers, but the Giants weren't one of them.

1:40 p.m., from Jerry Crasnick
• Paul Kinzer, the principal agent for Vicente Padilla, will fly into Orlando on Tuesday for the winter meetings. In the meantime, agent Adam Katz is speaking to clubs on Padilla's behalf. Kinzer's principal focus has been on Texas, where Padilla won 15 games last season. But things could change if Padilla doesn't have an agreement in place by the end of the meetings. "Hopefully something gets done in the next day or two," Kinzer said. "If it doesn't happen soon, we might have to open things up more." Padilla's talks with Texas could turn on whether he continues to push for a four-year deal or is willing to accept three.

• The Twins, looking for a starter to bolster their rotation, are focusing on the lower end of the free-agent market, but have also explored the possibility of swinging a trade with Colorado for Jason Jennings. The Rockies would no doubt want Minnesota's top prospect, Matt Garza, as a centerpiece to such a deal. Given Minnesota GM Terry Ryan's reluctance to trade his best prospects, that's unlikely to happen.

• One agent in the lobby of the Walt Disney Swan and Dolphin Resort predicted that Mike Piazza will wind up in Oakland despite his recent dalliance with Texas, in large part because Piazza would prefer to remain in California. The agent also said that Barry Bonds would much rather stay in San Francisco than sign with Oakland. "He doesn't want to drive across the Bay, he doesn't want to play in a dilapidated stadium, and he doesn't want to wear the white shoes," the agent said.

1:30 p.m.
• Reliever Joe Borowski will undergo a physical exam Tuesday in Cleveland, ESPN The Magazine's Tim Kurkjian reports. The Indians want to see how healthy his shoulder is before proceeding any further.

12:50 p.m., from Jayson Stark
• There were reports out of Chicago today that the White Sox were again looking into trading for Alex Rodriguez. But according to an official of one team that has inquired about A-Rod's status recently, those reports are just "the same old bull. A-Rod isn't going anwhere."

• While the A's and Rangers are still Mike Piazza's chief pursuers, there were rumblings Monday that the Angels had also kicked the tires on Piazza, who is expected to sign with one of those clubs sometime this week.

• The Padres are believed to be closing in on a deal with free-agent outfielder Jose Cruz Jr., who was released by the Dodgers last August.

• Only one free-agent starting pitcher won more games this year than Vicente Padilla (who won 15 for Texas). So Padilla has attracted significant interest. But the buzz among teams chasing him is that he's going to wind up back with the Rangers. Rumored sticking point: Padilla wants a four-year deal, and Texas is balking.

• Reports that the Cubs are making serious runs at Jason Schmidt and Barry Zito appear to be vastly overblown. Zito is barely on their radar screen. And Schmidt's price tag ($15 million a year for three to five years) has them looking for less expensive options -- with a list topped by Ted Lilly and Gil Meche.

Octavio Dotel's agent, Dan Horwits, told a group of reporters Monday that there is "no question" that Dotel is now fully healthy, a year and a half removed from Tommy John surgery. Dotel is being as hotly pursued as any free-agent reliever left on the market. But according to one team that has inquired about Dotel, he has filtered out nearly all the clubs that want him to set up and expects to sign with a team that will let him be a closer again. That group would include the Red Sox, Devil Rays, Indians and Royals.

• The Mets have signed former Mariners pitcher Clint Nageotte to a minor-league contract, with an invitation to spring training; the Phillies signed former Mets, Indians and Brewers reliever Kane Davis to a minor-league deal; and the Royals signed former Devil Rays No. 1 pick Dewon Brazelton to a minor-league contract.

12:15 p.m.
• The Cubs are in serious pursuit of left-hander Ted Lilly.

• The Cubs are dangling right fielder Jacque Jones.

• The Brewers are listening to offers on outfielders Geoff Jenkins and Kevin Mench.

• The Dodgers and Giants, both in need of power-hitting outfielder, continue to discuss Manny Ramirez with the Red Sox.

9:30 a.m.
• The Indians are interested in Joe Borowski as a closer. The Phillies last week backed away from a multiyear agreement deal with the free-agent reliever because of concerns about the right-hander's shoulder.

• Free agent-reliever David Weathers is closing in on a two-year deal with the Reds, two baseball sources at the winter meetings told ESPN.com. The agreement is believed to be worth about $5 million.