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Report: Orioles and Ubaldo Jimenez agree to a four-year, $50 million deal

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UPDATE: According to CBS Sports’ Jon Heyman, the Orioles and Jimenez agreed to a four-year, $50 million deal.

6:53 p.m. ET: FOX Sports’ Ken Rosenthal reports that the Orioles and Jimenez have reached agreement on a deal, pending a physical.

6:23 p.m. ET: After sitting on the sidelines for most of the offseason, the Orioles finally appear ready to make a big splash.

Roch Kubatko of MASNSports.com reports that the Orioles have made “substantial progress” in contract talks with free agent right-hander Ubaldo Jimenez and are working to finalize a deal. The contract, if finalized, is believed to be for four years and around $48 million.

Jimenez hoped to land a monster contract this offseason after his monster second half last year, but things haven’t turned out exactly as planned. Surely many teams weren’t convinced that a handful of excellent starts were enough to make a substantial investment — it looks like he’ll end up getting a similar contract to Ricky Nolasco (Twins) and Matt Garza (Brewers) — but it also didn’t help that he was attached to draft pick compensation. The Orioles have also been linked to Ervin Santana in recent weeks, but Jimenez has more upside if his second half is a sign of things to come. For a team with a brief window to win with their current roster, they might as well shoot for the moon here. Of course, the bust potential is pretty big, too.

The Orioles will surrender their first-round pick (No. 17 overall) and the corresponding draft pool money if they sign Jimenez. He would join a starting rotation which also projects to include Chris Tillman, Wei-Yin Chen, Bud Norris, and Miguel Gonzalez.

Report: Diamondbacks to trade Michael Bourn to the Orioles

SAN DIEGO, CALIFORNIA - AUGUST 21:  Michael Bourn #1 of the Arizona Diamondbacks reacts after striking out during the eighth inning of a baseball game against the San Diego Padres at PETCO Park on August 21, 2016 in San Diego, California.  (Photo by Denis Poroy/Getty Images)
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Jon Heyman of Today’s Knuckleball reports that the Orioles and Diamondbacks have agreed in principle to a trade involving outfielder Michael Bourn. The trade is in the process of being finalized. It is not yet known what the Diamondbacks are receiving in return.

Bourn will be the second outfielder the Orioles have acquired on Wednesday, as the club also claimed Drew Stubbs off waivers from the Rangers.

With rosters expanding on Thursday, the Orioles are making a concerted effort to bolster the team’s outfield depth. Both Stubbs and Bourn are eligible for the Orioles’ postseason roster if the club makes it.

Bourn, 33, hit .261/.307/.362 with 21 extra-base hits, 30 RBI, 43 runs scored, and 13 stolen bases in 358 plate appearances.

Orioles claim Drew Stubbs off waivers from the Rangers

SEATTLE, WA - SEPTEMBER 7: Drew Stubbs #15 of the Texas Rangers walks off the field after an at-bat during a game against the Seattle Mariners at Safeco Field on September 7, 2015 in Seattle, Washington. The Rangers won the game 3-0. (Photo by Stephen Brashear/Getty Images)
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The Orioles have claimed outfielder Drew Stubbs off release waivers from the Rangers, Ken Rosenthal of FOX Sports reports. The club designated for assignment pitcher Kyle Lobstein, whom they acquired from the Pirates earlier on Wednesday, to make roster space for Stubbs, Dan Connolly of BaltimoreBaseball.com reports.

The Rangers designated Stubbs for assignment last week. After clearing waivers, Stubbs refused an assignment to Triple-A Round Rock, so the Rangers released him on Monday.

Stubbs, 31, has taken only 67 plate appearances this season — 42 with the Braves, 25 with the Rangers — as he missed a lot of time between mid-May and mid-August with a sprained left toe.

With rosters expanding, the veteran Stubbs will simply add to the Orioles’ outfield depth.