UPDATE: Padres, Diamondbacks finalize Ian Kennedy deal

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2:09 p.m. EDT: The Padres are getting Kennedy in return for Thatcher, right-hander Matt Stiles and their post-second round competitive balance pick in the 2014 draft, according to MLB.com’s Corey Brock.

1:52 p.m. EDT update: The Arizona Republic’s Nick Piecoro reports that San Diego and Arizona are close to an agreement. The Diamondbacks would get left-handed reliever Joe Thatcher and a prospect.

1:42 p.m. EDT update: Yahoo! Sports’ Jeff Passan chimes in that Thatcher would be “one of the players going to Arizona” in a Kennedy deal.

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1: 30 p.m. EDT: The chances of an Ian Kennedy trade may have taken a hit after Jake Peavy went to Boston, not Arizona, last night, but he’s still getting talked about with a couple of hours left to go before the deadline. CBSSports.com’s Scott Miller says he might be sent to San Diego for relief help in the form of right-hander Luke Gregerson or left-hander Joe Thatcher.

With Brandon McCarthy (shoulder) and Trevor Cahill (hip, shoulder) on the way back from the DL, the Diamondbacks don’t necessarily need to get a starter in order to trade Kennedy. They’d still have Patrick Corbin, Wade Miley, McCarthy, Cahill and Randall Delgado, with Tyler Skaggs and Archie Bradley waiting in the wings.

Kennedy would be as good of a fit in Petco Park as he would be anywhere, and the Padres could use a veteran for their 2014 rotation with both Edinson Volquez and Clayton Richard potentially on the way out. Kennedy is under control through 2015 and should make about $6 million in arbitration next year. The 28-year-old is 3-8 with a 5.23 ERA this season.

Jonny Venters is still pitching

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Lefty reliever Jonny Venters was among a handful of players the Rays signed to minor league contracts, Marc Topkin of the Tampa Bay Times reports.

Venters, 32, hasn’t pitched in the majors since 2012 and has logged just 27 2/3 innings in the minors in the meantime due to a continuous battle with his elbow. According to David O’Brien of the Atlanta Journal-Constitution, Venters has undergone four — four! — Tommy John surgeries.

When he was healthy, Venters was a fearsome late-game option for the Braves. He posted a 1.95 ERA with 93 strikeouts in 83 innings in 2010, and a 1.84 ERA with 96 strikeouts in 88 innings in 2011. His first-half performance in 2011 earned him a spot on the National League All-Star roster.

Venters has spent the last two years in the Rays’ system and he’ll try to make it a third.