Jake Peavy appears to be staying put with the San Diego Padres — for now.
General Manager Kevin Towers said Thursday that Cubs GM Jim Hendry told him Chicago was ceasing its pursuit of the 2007 NL Cy Young Award winner. Towers said Monday that the Cubs were the only team in the running at that point.
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Padres spokesman Warren Miller confirmed that trade talks with Hendry and the Cubs had halted.
"Now we need to start moving forward," Towers said. "He said he's got other things going on. I respect his position."
Reds: Foxsports.com reported Thursday that the Reds and left-handed reliever Arthur Rhodes have an agreement on a two-year, $4 million contract, pending a physical.
Last season for the Mariners and Marlins, the 39-year-old Rhodes was 4-1 with a 2.04 ERA in 61 games. After a July 31 trade to Florida, he posted a 0.68 ERA in 25 games.
Royals: Relief pitcher Kyle Farnsworth reached a preliminary agreement on a $9.25 million, two-year contract.
The deal is pending a physical, a person familiar with the negotiations told The Associated Press on Thursday.
Twins: Infielder Nick Punto reached an agreement on a two-year deal worth $8.5 million.
White Sox: Infielder Wilson Betemit agreed to a one-year, $1.3 million contract.