Some news from around the majors…

• The terms of Roberto Hernandez's restructured contract with the Indians have been reported by The Associated Press.  The pitcher formerly known as Fausto Carmona will now earn $2.5MM in 2012 (down from $7MM) with another $2.7MM available in roster and performance bonuses.  The Tribe's $9MM option on Hernandez for 2013 drops to $6MM, though Hernandez can earn that money back based on innings pitched and bonuses carried over from 2012.  Cleveland also holds a $14MM team option on the right-hander for 2014 that is apparently still intact.
• Cole Hamels feels bad that his friend Ryan Madson will miss the season after undergoing Tommy John surgery, but Hamels said that Madson's situation won't cause him to rethink his own plans for free agency, reports Scott Miller of CBS Sports.  "If you're in the game long enough, nothing can push you in a different direction and make you worry," Hamels said.  "If you're able to reach free agency, you've obviously had success in the big leagues, and there are going to be teams that trust you….Surgeries are a lot better today, they're not as scary as they were 10 or 12 years ago."
• The Pirates haven't yet expressed interest in left-hander John Grabow, tweets Rob Biertempfel of the Pittsburgh Tribune-Review.  Grabow exercised an out clause in his Dodgers contract earlier today and is now a free agent.  Grabow was originally drafted by the Bucs in 1997 and pitched for the club from 2003-09.
• Right-hander Kip Wells threw for the Mets a few weeks ago and hit 93 mph on the radar gun, reports Jon Heyman of CBS Sports (Twitter link).  Wells hasn't pitched in the majors since 2009 but recently signed a minor league deal with the Diamondbacks.
• “I’ve been a Red for 10 years now,” Joey Votto tells John Fay of the Cincinnati Enquirer. “I don’t daydream about playing for another team. I don’t.”  Votto is scheduled to hit free agency after 2013 but again reiterated that he hopes to remain with the Reds and is only focused on the upcoming season.

• John Grabow has exercised the out clause in his contract and has been granted his release, reports MLB.com's Ken Gurnick (Twitter link).  The southpaw was in the Dodgers camp on a minor league deal and had looked good in Spring Training, striking out seven batters across six scoreless innings.  Grabow would have made $800K had he made the club's roster.
• Jamey Wright has been told he will be added to the Dodgers roster once the team completes the official paperwork, tweets Dylan Hernandez of the Los Angeles Times.  Hernandez previously reported that Wright can earn $900K if he makes the club's roster, with up to $500K extra in incentives based on innings pitched.  It seems like L.A. had a choice to make between Wright and Grabow and chose Wright, and by letting Grabow walk before March 30, the Dodgers save paying him an extra $100K bonus.
• The Dodgers have agreed to sign Dominican right-hander Bryan Munoz, reports MLB.com's Ken Gurnick.  The deal is worth $300K and will be official once Munoz passes a physical.  Munoz, 16, is represented by Kevin Bandel and throws a fastball "already touching 90 mph."  The right-hander also drew interest from the Diamondbacks, Rangers, Tigers and Twins.
• Though Los Angeles doesn't currently have an NFL team, NFL commissioner Roger Goodell considers the city to be a league market, reports Daniel Kaplan of SportsBusiness Journal.  As such, the NFL's cross-ownership rules would apply if Stan Kroenke (who owns the St. Louis Rams) wins his bid to buy the Dodgers.  If Kroenke indeed buys the team, Goodell told Bud Selig that the NFL "would move quickly" to resolve the issue.  (Both links are to Twitter.)

• The Astros announced that left-handed reliever Sergio Escalona will undergo Tommy John surgery and miss the season. "This probably makes us think about [Zach] Duke’s role if he doesn’t win a spot in the rotation," said GM Jeff Luhnow to MLB.com's Brian McTaggart (Twitter link).
• Cubs GM Jed Hoyer told ESPN's Jim Bowden that he wants to sign Matt Garza long-term and build around the right-hander rather than trade him (Twitter link).
• "I hope I stay here in Kansas City," said Joakim Soria to MLB.com's Dick Kaegel. Soria will miss the season with Tommy John surgery, and the Royals hold an $8MM club option for his services in 2013. "I love this organization, I feel part of this family and I appreciate what they've done for me."
• "I needed a fresh start. I needed a new team," said Blue Jays third baseman Brett Lawrie to ESPN's Jayson Stark about his trade from the Brewers. Lawrie feels Milwaukee tried to change his effusive personality, though GM Doug Melvin disagrees.
• John Grabow and Jamey Wright will earn $800K and $900K, respectively, if they make the Dodgers according to Dylan Hernandez of The Los Angeles Times (Twitter links). Both pitchers have incentives based on appearances, maxing out at $500K (Wright) and $200K (Grabow).

• Jamey Wright and John Grabow can opt out of their minor league contracts with the Dodgers on Sunday, reports Dylan Hernandez of The Los Angeles Times (on Twitter). If the players opt-out, the team can keep them by adding them to the 40-man roster by March 30th.
• Hank Schulman of The San Francisco Chronicle reports (on Twitter) that decision day for Ryan Theriot's contract is March 30th, not the 29th as previously reported. If the Giants cut him by the 29th, they'll only have to pay him one-fourth of his $1.25MM salary.
• The same is true for both Mike Fontenot ($1.05MM) and Clay Hensley ($750K) according to Schulman (on Twitter). Their contracts become guaranteed if the Giants do not cut them before the 29th.

Grabow, 33, was acquired by the Cubs from the Pirates in July of '09.  He signed a two-year, $7.5MM extension four months later.  Over those two seasons Grabow posted a 5.52 ERA, 5.9 K/9, 4.2 BB/9, and 1.4 HR/9 in 88 innings, missing time with knee and shoulder injuries.

Updated 8-30-11 at 10:56pm

Starting pitchers

• Aaron Harang, Padres - Harang's ERA is a respectable 3.92 with 6.7 K/9 and 3.3 BB/9 in pitcher-friendly Petco Park.
• Dontrelle Willis, Reds – Willis has bounced back with the Reds, posting a 4.10 ERA, 6.3 K/9, 3.8 BB/9, 0.68 HR/9, and 56.8% groundball rate in 52 2/3 innings.
• Carlos Zambrano, Cubs – Zambrano cleared waivers prior to being placed on the disqualified list.  He has a short fuse, lousy stats, and over $22MM remaining on his contract through next year.
• Rodrigo Lopez, Cubs – Not surprising to see the journeyman clear waivers.
• Chris Capuano, Mets – Capuano owns a 3.74 SIERA as of August 14th and earns only $1.5MM plus incentives, so it's hard to see why a few teams didn't place claims.
• Bronson Arroyo, Reds – His peripheral stats haven't changed much, but Arroyo has a 5.31 ERA as of August 15th.  $15MM of his $35MM contract is deferred through 2021 without interest.  The deferrals are voided if he's traded, however.  At any rate, expect Arroyo to stay put.
• Bruce Chen, Royals – Chen has his moments, but it's not surprising to see him clear waivers.
• Jason Vargas, Mariners – Like many of the starters here, Vargas' fastball wouldn't break a window.  But he has less than a million bucks left on his contract this year and is under team control through 2013.  He'd fit nicely at the back end of several rotations.    
• Chien-Ming Wang, Nationals – His three starts this season were his first in over two years, so it's understandable that contenders wouldn't jump to claim him.
• Tom Gorzelanny, Nationals – Booted to the bullpen last month, the 29-year-old flyballing southpaw has posted strong strikeout rates in recent years but can't hold a rotation job.
• Ted Lilly, Dodgers – He always has strong strikeout-to-walk numbers, but is prone to the longball.  With over 82% of his $33MM contract remaining ($27MM+), it's no surprise he cleared waivers.

Relievers

• Joe Nathan, Twins - Nathan won't be traded, according to Joe Christensen of the Minneapolis Star-Tribune.
• Chad Qualls, Padres – Qualls is enjoying a bounce-back season, though his strikeout rate dipped to 5.3 K/9 this year.
• Bill Bray, Reds – Bray has been decent this year, and a little tougher against lefties.  He'll be arbitration eligible for the second time this offseason.
• Hong-Chih Kuo, Dodgers – A dominant reliever last year, Kuo has dealt with a back injury and anxiety disorder as his control has eluded him.
• Huston Street, Rockies – Between a recent triceps injury and the $9MM+ owed to him through 2012, Street was expected to clear.
• Brian Fuentes, Athletics – He's owed over $6MM through next year, and has been mediocre for the A's.
• Jon Rauch, Blue Jays – Rauch is affordable, but he's on the DL for an appendectomy and wasn't great before that.
• Mike Gonzalez, Orioles – Gonzalez has been dominant in August, and against lefties.  The problem is that he's still owed almost a million bucks.
• Kevin Gregg, Orioles – Gregg might be the worst reliever holding down a closer's job, and he's owed at least $6.4MM through next year.
• John Grabow, Cubs – He's been ineffective even against lefties, and he has over $700K remaining.
• D.J. Carrasco, Mets – The Mets signed Carrasco to a two-year deal in December – their biggest acquisition of the offseason - but optioned him to Triple-A in April.  He stayed there until mid-June.

Position players

• Aramis Ramirez, Cubs – In July, Ramirez's agent said that his client would consider an August deal but he has since had a change of heart.  The Cubs hold an option on Ramirez's deal worth $16MM.
• Alfonso Soriano, Cubs – This one was also obvious.  SI's Jon Heyman notes on Twitter that the Cubs are willing to pay a "major, major chunk" of the $58.35MM owed to the left fielder through 2014.
• Lance Berkman, Cardinals – Berkman has said he hopes to re-sign with St. Louis after the season, when he hits free agency.  Still, it's a surprise to see him clear waivers.
• Ryan Theriot, Cardinals - Theriot earns $3.3MM this year and will be a non-tender candidate after the season.
• David Wright, Mets - It's surprising that Wright cleared waivers, but it doesn't mean the Mets have interest in dealing him. Wright earns $15MM next year and can void a $16MM club option for 2013 if traded.
• Conor Jackson, Athletics – Olney notes that the Red Sox asked about the light-hitting 1B/LF/RF, but there doesn't seem to be any traction there.
• David DeJesus, Athletics – DeJesus has had a rough year but could at least be useful against right-handed pitching.
• Hideki Matsui, Athletics – The Athletics have several waiver trade candidates, and Matsui's hot second half and low salary (owed less than $2MM the rest of the season) could make him a popular target.
• Jason Bay, Mets – With Bay being owed at least $38.8MM through 2013, this was expected.  It's only been 12 games, but Bay is at least having his first good month of 2011.
• Willie Harris, Mets – The versatile Harris has less than $200K left on his contract.
• Angel Pagan, Mets – It's been a dismal year for Pagan, who may be in line for a non-tender after the season.
• Carlos Lee, Astros – No surprise here, as the 35-year-old is hitting .263/.321/.417 and is owed almost $23MM through next year.  El Caballo's ten-and-five rights kick in after the season.
• Johnny Damon, Rays – Damon blocked an August trade last summer and 12 months later he's a candidate to be traded once again.

Tim Dierkes contributed to this post.

Soriano's deal includes a full no-trade clause, but we recently heard that he'd waive it to go to a contender. The 35-year-old is hitting .249/.291/.445 with 14 homers this year, and an American League team could also hide his suspect outfield defense by using him as a DH. Soriano's contract calls for an $18MM salary this year and every year through 2014.

Levine also mentions that there is interest in Kosuke Fukudome, John Grabow, and Marlon Byrd. The Indians are among those interested in Fukudome.

• Cubs GM Jim Hendry says that he's gotten phone calls from teams inquiring about players that he's not interested in moving, and the teams know that before they call, writes Carrie Muskat of MLB.com.
• At some point, the Cubs will let Kerry Wood know which contenders have serious interest in him and let him make the choice of if he's traded, and where to according to Buster Olney of ESPN (via Twitter).
• Meanwhile, the club is telling teams that they have no interest in talking about Sean Marshall in any potential trade, Olney tweets.
• The White Sox might make a trade with the Braves in the weeks leading up to the deadline, writes MLB.com's Scott Merkin.  Though it's possible that nothing is imminent, GM Ken Williams' special assistants Dave Yoakum and Bill Scherrer have been watching Atlanta over the past two or three series.
• Bruce Levine of ESPNChicago.com wonders if Alfonso Soriano, Aramis Ramirez, and John Grabow could be of interest to the Yankees.  Although the Yankees already have a solid base in their everyday lineup, Levine writes that Ramirez or Soriano could add some punch as a designated hitter.

THURSDAY, 10:53am: Gordon Wittenmyer of the Chicago Sun-Times says the deal is believed to be worth at least $7MM in total. Dave Cameron of FanGraphs calls it a "waste of cash."

9:47am: Paul Sullivan of the Chicago Tribune reports that the Cubs have agreed to sign Grabow to a two-year deal. Sullivan's sources say the deal could be announced today.

8:13am: The Cubs are nearing an agreement with lefty John Grabow on a two-year deal, according to Bruce Levine of ESPNChicago. It wouldn't be a surprise to see the two sides finalize a deal soon; we heard last week that an agreement wasn't far off.

Levine reports that the deal will be worth nearly $7.5MM over two years. His source says the deal should be completed today. Grabow struck out 7.1 per nine innings and walked 5.0 per nine with the Pirates and Cubs last year for a 3.36 ERA.

9:12am: The Cubs are nearing a deal with lefty reliever John Grabow, according to Ken Rosenthal and Jon Paul Morosi of FOX Sports.  The writers say the Cubs are "making progress" on a possible two-year deal.  Of course, we've read these rumors for a few weeks now.

• Free agent Rich Harden wants to return to the Cubs. His agent is likely to meet with Cubs GM Jim Hendry soon.
• The Cubs are expected to sign lefty reliever John Grabow to a two-year deal with an option for 2012.
• Agent Barry Praver says there's been no talk of waiving Carlos Zambrano's no-trade clause.
• The Cubs are likely to move Kosuke Fukudome to right, so they will be looking for a center fielder.

The Cubs are working on re-signing John Grabow and they'd also like to acquire a speedy leadoff hitter.

The club's direction depends on its ability to move Milton Bradley and the $21MM remaining on his contract. Sullivan speculates on a possible trade that would send Bradley to the Rays for Akinori Iwamura and Pat Burrell. 

I still don't understand the Cubs' infatuation with Grabow, who turns 31 in a few days.  He managed a 3.36 ERA in 72.3 innings, but walked 40 and had an xFIP over 4.90.  If you're tight on payroll there are better ways to spend $3-4MM.

• Both writers agree that unloading right fielder Milton Bradley (owed $21MM) is at the top of GM Jim Hendry's to-do list.  Wittenmyer's sources suggest the Cubs might be able to move Bradley without eating 80% of his contract.  Sullivan believes the Cubs could kill two birds with one stone by trading Bradley for their desired "RBI guy," one who carries an equally poor contract.  Magglio Ordonez and Jose Guillen come to mind for me.  However, the Tigers would have no motivation to make the swap and the Royals are not interested (it's a poor match on money and handedness anyway). 
• Sullivan says lefty reliever John Grabow wants a three-year deal, and the Cubs "are likely to give it to him."  That'd be overpaying, based on last year's market for lefty relievers.
• Sullivan believes Jake Fox and Mike Fontenot are trade candidates.  Fox might be a good fit with an American League club.
• Will the Cubs opt for a cheap backup outfielder in Sam Fuld, or will they re-sign Reed Johnson?
• Neither writer expects the Cubs to trade Carlos Zambrano.

• John Grabow has begun "preliminary talks" with the Cubs about returning for the 2010 season.  He wants to come back, and has made that known.  "It's just a matter of finding common ground," said the left-hander, acquired from the Pirates on July 30.  "It won't happen until the season is over."
• Rich Harden has also made it known that he'd like to return.  "I like this team and the organization, and I'm very happy with my time here," he said Saturday. "Yeah, I'd like to be here next year, but we'll see what happens."  Of course, Harden will require a much stronger financial commitment than Grabow.  He's likely to shop around, if only to drive up his price.  And the Cubs have hinted that they might not even want him back.