Inside the Padres’ financially strapped offices at Petco Park, there was a huge sigh of relief. General manager Kevin Towers had a mandate – since last November- to get Peavy off the Padres’ books. Still, some people close to that organization believe Williams didn’t need to part with so much talent to get Peavy at this point. ”The financial relief alone might have been enough to get it done,” a Padres insider said. ”Maybe you dress it up with some bodies. But (the Sox) had a lot more leverage. (The Padres) had no other options.” And the Sox, who detest long-term contracts for pitchers, are taking on a monster contract. They are responsible for the remainder of Peavy’s $11 million salary for this season, a $15 million salary in 2010, $16 million in 2011 and $17 million in 2012. The deal also includes a $22 million club option for 2013 or a $4 million buyout.
UPDATE: From Buster Olney:
The Padres had to trade Jake Peavy lest they run the risk of having one guy take up 30 to 40 percent of their payroll in 2010. So when White Sox general manager Kenny Williams asked San Diego about him again before the trade deadline, the Padres were like a man dying of thirst being offered a canteen of water.