Peavy Staying With Padres

Deal in the works to trade Padre Jake Peavy

Jake Peavy is a Padre still, despite efforts to deal him to the White Sox.

The onetime ace pitcher -- who is off to a 3-5 start -- turned down a trade to Chicago, choosing to remain with his longtime team.

The 2007 NL Cy Young Award winner rejected the deal Thursday. The Padres and White Sox had reached an agreement, but needed Peavy to waive his no-trade clause.

Peavy's agent, Barry Axelrod, said the team approached Peavy on Wednesday afternoon about the White Sox. Peavy has stated since last off-season that if he were traded, he'd prefer to pitch for a National League team.

"Nobody's told us there's a deal done," Axelrod said. "We were asked if Jake would consider a trade. That's all we know. ...

Following a 99-loss season in 2008, general manager Kevin Towers said it was in the club's best interest to explore a trade for Peavy, who signed a five-year contract extension in December 2007.

Towers said the Padres were looking to shed payroll while reloading the roster.

The hope was that Peavy could land the Padres a handful of Major League-ready players while helping the club reduce its payroll from last year's $73.6 million down to near $40 million.

But as close as he may have come to pulling the trigger on a trade with the Cubs, Towers never found a satisfactory deal for Peavy, who is guaranteed $59 million through 2012. The Padres hold a $22 million club option for 2013 with a $4 million buyout.

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