UPDATE: Orlando Cabrera signs with Reds

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Update: Brown reports that the Reds have agreed to terms with Cabrera on a one-year, $3 million contract with a $3 million option for 2011. According to Mark Sheldon of MLB.com, there’s a $1 million buyout on the second year.

Saturday 6:33 pm: Tim Brown of Yahoo! Sports hears that Orlando Cabrera is leaning towards choosing the Reds over the Rockies, with a deal likely done today.

Cabrera would have a better chance to win in Colorado, but with Troy Tulowitzki as the starting shortstop, he’d have to accept a part-time role with the club, most likely at second base, a position he hasn’t played regularly since 1998. The Reds love Paul Janish’s glove at shortstop (he only played 82 games at the position last season, but led all shortstops in UZR/150), but don’t think they can shoulder his meager offensive production over the course of a full season.

As Cincinnati emerges as the clear favorite for Cabrera, Troy Renck of the Denver Post tells us that the Rockies are a finalist for free agent infielder Melvin Mora. The Mariners and Rangers are also rumored to have interest in the 37-year-old. Mora has only played third base since the 2004 season, but the Rockies believe he could also play second base and outfield. He served a similar utility role with the Mets and in his early days with the Orioles.

Report: Phillies want a top-five prospect for Jeremy Hellickson

PHILADELPHIA, PA - JULY 20: Starting pitcher Jeremy Hellickson #58 of the Philadelphia Phillies throws a pitch in the second inning during a game against the Miami Marlins at Citizens Bank Park on July 20, 2016 in Philadelphia, Pennsylvania. (Photo by Hunter Martin/Getty Images)
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Starter Jeremy Hellickson has become the Phillies’ most enticing trade chip as he’s put together a solid month of July. After shutting out the Marlins on one hit and one walk over six innings on Monday, the right-hander lowered his July ERA to 1.97 and his overall ERA to 3.65. As a result, the Phillies are telling teams they want a top-five prospect to part with Hellickson, per ESPN’s Jayson Stark.

Obviously, a top-five prospect means something different if you’re the Marlins as opposed to the Rangers. And the Phillies’ price point for Hellickson isn’t likely to stay that high, but GM Matt Klentak is setting a lofty starting point so that the return might end up being higher than market value.

ESPN’s Buster Olney speculates that the Phillies could end up holding onto Hellickson and giving him a qualifying offer after the season. He notes that the Phillies have only $25 million tied up for the 2017 season, so they could afford to pay Hellickson in excess of $16 million if he were to accept.

Video: Matt Cain launches a three-run home run

SAN FRANCISCO, CA - JULY 26: Matt Cain #18 of the San Francisco Giants hits a three run home run against the Cincinnati Reds during the second inning at AT&T Park on July 26, 2016 in San Francisco, California.  (Photo by Jason O. Watson/Getty Images)
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Madison Bumgarner isn’t the only Giants pitcher who can rake. Matt Cain crushed a three-run home run during Tuesday’s game against the Giants.

Cain stepped to the plate with runners on the corner and one out against Reds starter Cody Reed in the bottom of the second inning. Reed threw a 1-1 fastball down the middle and Cain hit it about 20 rows back in the left field seats.

It’s Cain’s first homer of the season, his first since 2012, and the seventh of his 12-year career. He still has some work to catch up to Bumgarner, who has two homers this year and 13 in his career.

On the pitching side of things, Cain got the win against the Reds on Tuesday night, giving up four runs on six hits and a walk with four strikeouts in 5 1/3 innings. He currently holds an ugly 5.95 ERA.