Padres get Huston Street from Rockies to replace Heath Bell

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UPDATE: Thomas Harding of MLB.com reports that it’s a done deal, with the Padres assuming “most” of Street’s contract and sending the Rockies a player to be named later in exchange.

UPDATE: According to Joel Sherman of the New York Post the Rockies are eating $1 million of Street’s salary.

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Colorado is having “extensive talks” with San Diego about reliever Huston Street, according to Buster Olney of ESPN.com.

Troy Renck of the Denver Post has repeatedly reported that the Rockies are looking to trade Street and might even be willing to eat the majority of his contract to get a decent prospect in return for the former closer.

Olney describes the talks as “ongoing” and Street has been linked to several other teams at various points this month, with the Rockies now preferring Rafael Betancourt in the ninth inning.

He’s pricey at $7.5 million with a $9 million option or $500,000 buyout for 2013, but Street is still just 28 years old with a 3.11 career ERA that includes a 3.50 ERA and outstanding 170/33 K/BB ratio in 167 innings for the Rockies. Toss in the fact that going from Coors Field to Petco Park would solve his issues keeping the ball in the ballpark and Street could really thrive in San Diego as Heath Bell’s replacement.

Twins will not pick up Glen Perkins’ 2018 option

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The Twins have informed reliever Glen Perkins they will not pick up his 2018 club option worth $6.5 million, MLB.com’s Rhett Bollinger reports. Instead, he will be paid $700,000 per his buyout clause.

Perkins, 34, has pitched a total of 7 2/3 innings over the last two seasons due to shoulder and biceps injuries. Bollinger adds that the two could come to terms on a minor league deal, but if they can’t reach an agreement, the lefty is likely to retire.

From 2011-15, Perkins emerged as one of the better relievers in baseball, making three All-Star teams. He compiled an aggregate 2.84 ERA with 340 strikeouts and 73 walks across 313 1/3 innings.