Peavy reportedly near deal to stay with Pads through 2012

Updated: December 4, 2007, 10:00 PM ET
ESPN.com news services

The San Diego Padres want to make sure they don't lose a Cy Young winner.

Jake Peavy and the team are on the verge of an extension that would keep the ace right-hander in San Diego.

"We're moving in that direction," Padres CEO Sandy Alderson said, according to the San Diego Union-Tribune on Sunday. "We're optimistic."

Once the deal is finalized, the right-hander will be guaranteed $52 million from a three-year extension that will run from 2010-12. Should the team exercise ...

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