According to Fox 26 in Houston, the Phillies and Astros agreed upon terms late Wednesday night for a trade that would bring Roy Oswalt to Philadelphia. Oswalt has been contacted by the Astros about waiving his no-trade clause, according to the report.
The Phillies would send J.A. Happ and prospects to Houston in return.
Oswalt is owed $5 million for the remainder of this season, $16 million next season, and wants his destination club to pick up his $16 million 2012 option.
By making such a move, Ruben Amaro is essentially acknowledging that trading Cliff Lee was a mistake. But he is now doing what keeping Lee would have achieved- he's making the team better this season. Swapping Lee for Roy Halladay guaranteed the team a top flight starter for the next four years, but it only swapped aces for the 2010 season. The Phillies showed last year that they need more than one ace to win a World Series. Bringing in Oswalt would give the Phillies an incredible 1-2 punch.
Trading Happ for the 32 year-old Oswalt is a gamble, however. Oswalt is reported to have received three cortisone shots in his back this year, and is significantly more expensive than Happ. Happ will make around a half a million dollars each of the next two seasons and is arbitration eligible in 2012. Since the start of last season, Happ's ERA is also full point lower than Oswalt's.
Stay tuned for the latest details.