1:00 p.m.: Oswalt plans on accepting deal, according to Jayson Stark. Happ is clearly the centerpiece of the deal, Stark says. Dollars believed to be $11 million range from Houston to help cover Oswalt's contract, he says. The deal is still pending.
12:58 p.m.: Trying to Photoshop Oswalt's head into Brad Lidge's uniform and cap. Oswalt's lightbulb-shaped head is presenting a problem. Unsuccessfully tried using the liquify tool to bubble out Lidge's cap to accommodate Oswalt's melon. "It's like an orange on a toothpick."
12:25 p.m.: Rosenthal hears that Singleton is not in the deal.
ESPN accidentally publishes Stark's notes: Here they are before they're taken down: "Confirmed that Houston would get three players back -- J.A. Happ and two prospects. Nobody is revealing names of the prospects, but Houston has pressed hard for Phillies' best hitting prospect now that Domonic Brown is in the big leagues, Class A first baseman Jonathan Singleton. Also heard from an excellent source that the Astros offered to pay $12 million of the $23+ million left on Oswalt's contract through next year. Can't confirm that's the final number agreed on, but again it's from an excellent source who would know, even though he wasn't directly involved." [Link]
11:00 a.m. "Oswalt has been asking questions about the lay of the land in Philadelphia, has received texts from Brad Lidge, people close to situation say," according to Salisbury.
Bautista report: The Philadelphia Phillies are interested in Toronto Blue Jays OF and home run leader Jose Bautista. According to respected baseball scribe Bob Elliott of the Toronto Sun, the Phillies have scouted eight of the Jays' last nine games. The 29-year-old journeyman came out of nowhere to hit .256/.366/.585 with 30 homers and 75 RBIs this season. He's a jack of all trades in the field, but a master of none....[+]
10:30 a.m. CSNPhilly's big gun, Jim Salisbury, says the signs point to the Phillies acquiring Oswalt. "Baseball officials with knowledge of the Phillies’ thinking said the club was carrying itself as if it had an agreement," Salisbury writes. Click here for trade details.
10:05 a.m. Ken Rosenthal tweets that his source says the deal is 3-for-1 with J.A. Happ as part of the package. Astros would reportedly pay a "very significant" part of Oswalt's remaining salary, which is over $23 million. Earlier, SI's Jon Heyman mentioned that as many as four pitchers, including Happ and Vance Worley, could be part of the package.