Carlos Pena Claimed On Waivers

Buster Olney tweets that a claim was awarded on Carlos Pena. Depending on when that actually happened, the Cubs and the mystery team at the moment have about 48 hours to work out a deal. If nothing can be hammered out, the Cubs can pull Pena back off waivers or they can just let him go to the team and save the remaining salary left on his contract which includes the $5M deferred money he's owed on January 1st, 2012.

While Pena is now on track to be a Type B free agent and there's certainly plenty of value in the possibility of getting a supplemental round pick for him (although no sure thing), there's probably more value at the moment in saving the $5.5M or so he's owed, regardless of the prospects they may get back.

Possible Correction: It seems there's a bit of a confusion that if Pena is just given away, the Cubs could still be on the hook for the $5M in deferred money. Not sure why it works that way or how, but that's the current rumor by MLB Trade Rumors and Arizona Phil.

Update: Rosenthal tweets:

Pena claimed, but #Cubs likely to pull him back. Need 1B for 2012, want to keep options open. Did not get good offers before 7/31.

Considering Hendry's claim that he didn't want to make too many deals before the deadline, hopefully the thinking has changed.

Update #2 from Rosenthal:

#Cubs Pena has 5M deferred, payable 1/12. If trade occurred, Cubs would pay pro-rated portion - almost all. Again, deal unlikely.

This has gotten about 90% less exciting than it was an hour ago. My math tells me then that the claiming team would be on the hook for about $1.67M if the Cubs just let him go.

Update #3 from Jon Heyman says it was the Yankees. I assume they're just happy to take on the money then.

Comments

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In reply to by Dr. aaron b

Submitted by Dr. aaron b on Wed, 08/24/2011 - 12:28pm. Just save it for future payroll in general. MLB trade rumors is saying Cubs will still owe deferred money. Not sure how that works? ======================================== DR AARON B: I'm pretty sure that a club that claims a player off waivers is not responsible for deferred money owed to that player. So the Cubs would only save about $1M if they do not withdraw the waivers. My guess is that the Cubs are not much concerned about saving money, and will want a player or players back if they trade Pena.

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In reply to by Rob G.

I love this line:
It's equally hard to imagine the Cubs, hapless as they are, waiting another two months to make their moves.
Good thing it is clear that they have actually no clue about what they are talking about in terms of what the Cubs are thinking, considering that Ricketts has explicitly said that it is likely that they will wait until after the season ends.

also, I can't find this now, but I thought the deal was $3M was a signing bonus, $2M over the season and then the $5M deferred bonus. If that is the case, the other team would be on the hook for about $1.1M or so if the signing bonus doesn't count. I could be misremembering that.

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In reply to by Rob G.

It certainly makes it less of a black and white decision, because now you lose a potential 2nd (really third) round pick, save $1.1 and get to see LaHair give it a shot, or keep him and risk offering him arbitration, to try to get that pick. If he accepts and you still sign Fielder, then you're gonna have to cough up some money to trade him to another team.

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In reply to by The Real Neal

it is risky, but Cubs should have some wiggle room next year and especially after 2012 that they could take the risk on Pena even if he accepts. It's not like he'd get much more than a $10M payday in arbitration. That being said, Pena doesn't strike me as a guy that would accept to sit on the bench if he knew the Cubs were pursuing someone else and he wasn't wanted or if the Cubs already signed a deal with the Fielder or Pujols. And if the Cubs don't sign Fielder or Pujols, Pena again is perfectly fine.

I'm OK with Pena being our firstbaseman next year if we seriosly go after Fielder and Pujols and lose. If we do not go after those two and just sign Pena, I am not happy. I also would like to see LaHair given a chance the rest of this year, so let Pena go now. LaHair didn't do horrible in his short stint in Seattle and some guys develop later, i.e., Jim Hickman. Question, who will be the Cubs minor leauge pitcher of the year? Does anyone really deserve it?

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In reply to by TJ

"who will be the Cubs minor league pitcher of the year? Does anyone really deserve it?" Great question. If it's a reliever, Rhoderick or Beliveau, but they were just setup men at Tennessee for Dolis, the closer, who does not deserve the prize. If it's a 100-inning guy, then three lefties, Kirk, Jokisch or Rusin. (These numbers are a couple of days old.) Beliveau (24, day-tenn): 64.2 inn, 41 h, 18 bb, 82 k, 0.91 whip Rhoderick (22, day-tenn): 63 inn, 41 h, 36 bb, 69 k, 1.24 whip Kirk (21, peo): 134 inn, 115 h, 29 bb, 109 k, 1.07 whip Jokisch (21, peo-tenn): 122.2 inn, 114 h, 34 bb, 105 k, 1.21 whip Rusin (24, tenn-iowa): 112.1 inn, 117 h, 22 bb, 83 k, 1.24 whip I'm going to say Jokisch, for his age and the double promotion, assuming he finishes strong at Tenn. Second choice Rhoderick, for his age and the fact that he skipped Peoria. And I appreciate all mentions of Hickman, #28, my old hero!

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In reply to by VirginiaPhil

Submitted by VirginiaPhil on Wed, 08/24/2011 - 4:33pm. "who will be the Cubs minor league pitcher of the year? Does anyone really deserve it?" ===================================== VA PHIL: Rob Whitenack was well on his way to winning the Cubs Minor League Pitcher of the Year Award until he blew out his elbow, so now it probably will be Eric Jokisch, because Jokisch is the only 10-game winner, and he leads all Cubs minor leaguers in K. Nick Struck would be #2. The Cubs don't care about peripherals, so Austin Kirk won't win it because he has won only five games. And Bryan LaHair will almost certainly be named Cubs Minor League Player of the Year, because the award isn't the Best Prospect Award.

Wrongway trying to start something Interesting waiver situation ... #cubs mulling a claim on Gavin Floyd that could could start talks on a multi-player trade w/ #whitesox.

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In reply to by Rob G.

Submitted by Rob G. on Wed, 08/24/2011 - 3:58pm. http://mlbbuzz.yardbarker.com/blog/mlbbuzz/ya... Rosenthal's take on Pena to Yankees, says they have until noon CST to get deal done. =============================== ROB G: The window to make a trade for a player claimed off Trade Waivers is 48 hours, unless the 48-hour period overlaps a weekend (Saturday & Sunday are not considered MLB business days), in which case clubs would have 96 hours to make deal. A player who is placed on waivers remains on waivers for two business days minus one hour (Saturday & Sunday are considered business days only during Spring Training). The waiver list goes out on eBis at 2 PM (Eastern) every business day, and a waiver claim can be made anytime while a player is on waivers, which is anytime up until 1 PM (Eastern) on the second business day (which would be 47 hours if the player is placed on waivers on Monday, Tuesday, or Wednesday, or 95 hours if the player is placed on waivers on Thursday or Friday). When a player is claimed off Trade Waivers, another 48 hours (or 96 hours) is tacked onto the process to allow clubs to work out a trade, with the whole process ending no later than 1 PM (Eastern) on the 4th business day after the player was placed on Trade Waivers.

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In reply to by Rob G.

Then what was the point of putting him on waivers? Really, Bush is no better than Hendry. I also think all this talk about how everyone is OK with Pena returning next year should have a qualification added. One, he's not worth $10 million per year or anywhere near it. $5 mil on a 1 year deal would be my max. Two, he's not a clutch hitter. Another reason not to shell out big money and definitely not a multi-year deal. And three, we're not going to contend next year unless the new GM pulls some rabbits and a herd of leprechauns out of his/her ass. There's no reason to spend big bucks on 1 year free agent deals when the team can't compete.

meh...as soon as hendry was gone both aram and dumpster made noise about leaving the organization. there should be plenty of money and plenty of holes to fill. fun times.

good trivia question on twitter, although poorly researched Konerko is the 6th active player with 2000 hits and 400 HR (BR.com and ESPN says he has 393), so he will become the 6th active player soon enough might be better.... Name the other 5...

now irrational pissed off conservatives who think they're constantly under attack have taken up "the good fight no one else but them is fighting" at the ballpark...because they're too afraid of their own country to realize what a joke is...again. of course this is going down in texas, rangers fans...and yes, it's over "the wave." --- "The latest uproar began when new messages about the wave were posted on the ballpark's video board and caught on TV cameras and broadcast across the country. The messages were in jest, Morgan said, warning that doing the wave could throw out a rotator cuff or result in children being sold to the circus. But some fans and viewers were outraged, and even accused the Rangers of trying to trample wavers' constitutional right of free expression." http://www.reuters.com/article/2011/08/24/us-baseball-wave-idUSTRE77N85… it's very hard being middle class and white these days. ah, 1st world problems and the constitution being trampled every single day by everyone but the victims...omfg help.

h.bell (SD) on twitter says he's not traded...fwiw. also, wtf is OAK doing with all those FA types and holding onto them? they only traded zeigler that i know of. i think the real market for all these players on teams who could be sellers might be extremely more depressed than fans give it credit for.

Campana batting 7th, isn't that the worst place to hit a SB threat? he takes second, it's a guaranteed IBB to the 8th hitter.

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In reply to by Rob G.

quade marches out some weird lineups. people joked about dusty and lou, but there was a method behind their construction (especially dusty's even if people didn't want to believe it...it was shockingly simple). quade usually learns a lesson about where guys should be, but it takes him a while to do it. ...and of course soto is 8th and t.kkkkkkkkkkkkkkkkkkkkkkkkkkkolvin hitting 5th. before people get upset over "kkkkkkkkkkkkkkkkkkkkkkkkkkkolvin"...tyler groundsoutweaklyafteracrapswingovlin doesn't have a good ring to it.

from heyman hearing rick hahn and josh byrnes for cubs gm job. cashman/beane/epstein long shots to go, friedman not 2 likely either

lol...soto had to call time cuz castro was out of position with the pitcher ready to go. he was talking to aram and grooming a hole in the left side of the infield. no biggie...just a little "doh."

starting to feel bad for colvin...he looked really dejected after his last out of the last inning. freeman was playing the line and colvin lined hard out for a double play (really hard hit, aram running from 1st). he not only has had a horrible MLB season, his assignment to AAA to work things out went like crap, too. that's a guy that's ready for a hot september to go home on...or 2012 spring to get here already.

chip caray singing the 7th...got a good pop/welcome from the crowd. enthusiastic...wearing the fake harry glasses..."root root root for the bravos"...good ovation from the fans when finished..."we love you ron santo, we miss you"

r.wells continues his "decent" second half for an end-rotation starter. hope he continues...hope he finds a few more mph to his fastball, too...been sitting at 90-92 a lot recently rather than touching 93/94...oh well, as long as his changeup stays sharp.

Ok....and please feel free to remind me that I'm just bitching to bitch....BUT: Justin Sellers is playing a little SS for the Dodgers, only 12 games so far, and only putting up .267/.327/.422...0 errors This is a guy the Cubs couldn't even deem worthy of a look 2 years ago? Seriously? So they traded Michael Wuertz for...a guy who's out of baseball, and a guy who is getting a cuppa coffee with the Dodgers.

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In reply to by big_lowitzki

True....but giving away a decent reliever, at least in 2009, for absolutely nothing? I guess that's more my....hmm...conniption point? Wuertz was decent with the Cubs, and really good in 2009 with the A's..and we got a broken bat, and a bag of balls that we didn't even take out of the box before giving away. Now I'll bitch about not getting Campana more playing time =)

i-cubs in midst of 9 game series w/ okey city; first 4 were @ home; now playing 5 on road...la hair had 4 doubles [of the team's record-tying 10]night before #'s 35 &36...story problem for the sabremetricians: when was last time league leader in hits neither scored a hundred nor finished in top 10 in BA?

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In reply to by navigator

How quickly they forget. Juanderful Pierre lead the league in hits in 2006, and managed to score 87 runs, while finishing .029 out of the top 10.

BTW, related to last night's telecast, Selig basically said that extra playoff teams and realignment will happen...just a matter of when.

: Park Ridge officials want to take down Honorary Jim Hendry Way signs on Northwest Highway, which were authorized in 2009 by former Gov. Rod Blagojevich. Mayor Dave Schmidt said the request is nothing personal against Hendry, a Park Ridge resident, but the city never wanted the signs mounted in the first place.

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