UPDATE: No deal yet between Cardinals and Roy Oswalt

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UPDATE: Oswalt’s agent, Bob Garber, told Tim Dierkes of MLB Trade Rumors this morning that there’s “no chance” of his client pitching out of the bullpen.

8:31 AM: Hold your horses, everyone. When most of us went to bed, it appeared as though Roy Oswalt was St. Louis-bound. That may still be the case, but Gordon Edes of ESPNBoston.com has backtracked a bit from his previous report. He calls a deal likely to happen “soon” and was told by a source that it’s “not 100 percent” yet.

Meanwhile, Joe Strauss of the St. Louis Post-Dispatch reports that the Cardinals are insisting that no deal is in place with Oswalt. Any deal would be contingent upon a physical and the veteran right-hander has a history of back problems, so it’s possible some formalities are standing in the way of an official agreement. For now, we wait.

1:09 AM: Gordon Edes of ESPNBoston.com reports that Roy Oswalt is headed to the Cardinals. No word yet on the terms of the contract.

8:36 PM, Friday: Jim Duquette of MLB Network Radio on Sirius XM reports that the Cardinals and Roy Oswalt are close to agreeing on a contract. Michael Silverman of the Boston Herald confirms Duquette’s report, but adds that the process may take “another day or two.”

No word on the specific terms being discussed, but Joe Strauss of the St. Louis Post-Dispatch reported earlier this week that the Cardinals made an offer to Oswalt a few weeks ago “approaching $5 million.” Strauss didn’t think that would be enough to get it done and even pegged the Rangers as the favorites.

As for Duquette, he hears that the Red Sox, Astros and Rangers remain in the mix. The Astros are a bit of a head-scratcher given that they haven’t been mentioned until this point and aren’t anywhere close to contending, but perhaps Oswalt gave some thought to going back to where it all started.

Of course, the interesting part of a potential match with the Cardinals is that they already have five starters and Kyle Lohse and Jake Westbrook have full no-trade clauses in their respective contracts. By the way, Lohse will make $11.57 million in 2012 while Westbrook is owed $8.5 million this season and a $1 million buyout on his $8.5 million mutual option for 2013. Oswalt has the potential to make them better, obviously, but that could be a messy situation.

Red Sox re-sign Mitch Moreland to two-year deal

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The Red Sox have re-signed first baseman Mitch Moreland to a two-year contract, the club announced on Monday. According to Evan Drellich of NBC Sports Boston, the total value of the deal is $13 million and Moreland can earn more through performance incentives.

Moreland, 32, hit .246/.326/.443 with 22 home runs and 79 RBI in 576 plate appearances with the Red Sox in 2017. With Moreland back in the fold, the Red Sox are out of the running for free agent Eric Hosmer.

While Moreland doesn’t have the best bat among first basemen, he plays good defense. His return also means the Red Sox can safely stow Hanley Ramirez back in the DH role.