Marlon Byrd traded to Red Sox for Michael Bowden, PTBNL

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UPDATE: Michael Silverman of the Boston Herald reports that Bowden is indeed headed to Chicago along with a player to be named later. The Cubs will cover “most” of the $6.5 million remaining on Byrd’s contract.

5:51: According to Bruce Levine of ESPNChicago.com, Marlon Byrd confirmed that he has been traded to the Red Sox. The deal will be officially announced after today’s Yankees/Red Sox game. It’s not clear how much of Byrd’s salary the Cubs will cover or who the Red Sox will send to Chicago.

12:42 PM: Phil Rogers of the Chicago Tribune writes that the Cubs “could be getting” right-hander Michael Bowden, who would get a chance to pitch out of the bullpen.

12:16 PM: Worry no more, Red Sox fans. Your old friends Theo Epstein and Jed Hoyer are here to help.

Nick Cafardo of the Boston Globe is reporting that the Red Sox are closing in on a deal for Cubs’ outfielder Marlon Byrd. Jacoby Ellsbury is currently sidelined with a subluxed right shoulder and Carl Crawford is still on the comeback trail from wrist surgery, so Byrd would be thrown right into the mix with Cody Ross, Ryan Sweeney and Darnell McDonald.

Byrd is off to a woeful start at the plate this season, batting .070/.149/.070 with three singles, three walks and 10 strikeouts over his first 47 plate appearances. The 34-year-old outfielder is owed $6.5 million this this season in the final year of a three-year, $15 million deal, so the Cubs will almost certainly have to cover a large chunk of his remaining salary.

If the deal goes down, it will be interesting to see where the Cubs go from here in their outfield. Tony Campana was called up to replace the injured Ryan Dempster on the active roster, so he’ll presumably start in center field for now, but trading Byrd could speed up the timeline for top prospect outfielder Brett Jackson. There’s also the chance that the Cubs could slide David DeJesus from right to center, move Bryan LaHair to the outfield and promote Anthony Rizzo to play first base.

The Yankees attendance and revenue is down, but it makes sense

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There’s a long article in the New York Times today noting that the Yankees attendance is down and that, based on financial figures released as part of their stadium bond disclosures, ticket and suite revenues through last season have fallen by $166 million since the end of 2009.

There is a lot of talk in the article about the exciting young team the Yankees have put together and how much they’ve won so far in the early going. And there is a lot of talk about marketing and demographics — Hal Steinbrenner talks about baseball’s “millennial problem” — but the story of the Yankees’ box office issues, such as they are, is pretty straightforward.

All teams suffer attendance and revenue decline when they play poorly. While the Yankees have not been bad for a long, long time, that’s a somewhat relative thing. They Yankees have sold themselves and sold their fans on the idea that nothing short of a championship is acceptable, so missing the playoffs for three of the past four years is bad for them. Fans don’t want to go see a bad team, be it Yankees fans, Rays fans, Royals fans or whoever.

Despite the recent lack of success, the Yankees have still, perversely, continued to price their tickets, concessions, parking and everything else as though they’re the only game in town. When demand falls and prices remain super high, fewer people are buying your product. Even if you’re the New York Yankees.

The Yankees are good this year. What’s more, they’re good in that exciting way that only young promising players bursting out onto the scene can deliver. It’s a wonderful thing for marketing and stuff, but even under the best of circumstances, ticket sales tend to lag on field success, often by as much as a year. Go back and look at World Series winning teams — especially the surprise winners — and you’ll see that it’s the year after on-field success when the real attendance bumps happen. I expect, if the Yankees continue to play well, their gate will get really nice by the end of the summer, but I suspect we’ll also see a more dramatic bump next year.

Taken all together, this is a dog-bites-man story. The Yankees are not some transcendent institution, immune from market forces. They’re just one of 30 Major League Baseball teams competing against other entertainments for a finite amount of the public’s money and attention. Nothin’ to see here.

David Price had a rocky rehab start last night

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Red Sox starter David Price has been rehabbing a left elbow injury since early March. Last night he made his latest rehab outing for Triple-A Pawtucket. It didn’t go well.

Price allowed six runs — three earned — on seven hits in three and two-thirds innings, requiring 89 pitches to do it. His velocity was good, but otherwise it was a night to forget. This was supposed to be Price’s last rehab start before returning to the Sox’ big league rotation, but one wonders if he’s ready for it.

Price didn’t talk to the media after the game, but Pawtucket’s manager said he was “upbeat” and “felt good.” For his part, John Farrell, upon hearing about the outing, said this:

“There’s no announcement at this point. We’ve got to sit with him and talk about what’s best for him, best for us as we move forward.”

The Sox could really use Price back in the rotation given their injury problems, but rushing him back if he’s not ready is certainly not ideal.

Stay tuned.