Reds acquire right-hander Mat Latos from Padres in multi-player deal

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UPDATE: The Reds just announced that they have acquired Latos from the Padres for first baseman Yonder Alonso, right-handers Edinson Volquez and Brad Boxberger and catching prospect Yasmani Grandal. Wow. This one is looking a lot better for San Diego.

1:12 PM: Well, the Reds have landed the top-flight starter they’ve been looking for all offseason.

Ken Rosenthal of FOXSports.com reports that the Reds have acquired right-hander Mat Latos from the Padres. Yonder Alonso is among the players being sent to San Diego.

Latos has a 3.37 ERA over his first 72 starts in the majors, averaging 8.7 K/9 and 2.8 BB/9. The 24-year-old began this season on the disabled list with a shoulder strain, but ended up posting a 3.47 ERA and 185/62 K/BB ratio over 194 1/3 innings. He is arbitration-eligible for the first time next winter and under team control though 2015. His home/road splits aren’t all that different, so he should do fine with the move to Great American Ballpark.

Alonso is well regarded for his bat, but was blocked at first base in Cincinnati by Joey Votto. He could probably step in as the starting first baseman with the Padres right away, though one wonders what will happen with Anthony Rizzo, who was acquired from the Red Sox in last winter’s Adrian Gonzalez deal. Perhaps new GM Josh Byrnes has another deal on the way.

Like most of you, I’m eager to see who else the Padres got here. Latos was their most valuable chip, so I’m underwhelmed at the moment.