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.

Padres sign Jordan Lyles

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The Padres announced on Sunday that the club signed pitcher Jordan Lyles to a one-year major league contract with a club option for 2019. According to Jon Heyman of FanRag Sports, Lyles will earn $750,000 in 2018. Pitcher Travis Wood was designated for assignment to create room on the 40-man roster for Lyles.

Lyles, 27, had miserable results between the Rockies and Padres last season, compiling an aggregate 7.75 ERA with a 55/22 K/BB ratio over 69 2/3 innings. While he specifically gave up 24 earned runs in 23 innings across five starts with the Padres, it was a small sample. A full season at the pitcher-friendly Petco Park, as opposed to Colorado’s Coors Field, might help revitalize his career.

Wood, 30, went to the Padres at the non-waiver trade deadline from the Royals this past season. Overall, the lefty posted an aggregate 6.80 ERA with a 65/45 K/BB ratio in 94 innings. He’ll earn $6.5 million this season and has an $8 million mutual option with a $1 million buyout for 2019. So, the Padres are just eating $7.5 million minus the league minimum, assuming Wood latches on elsewhere.