After more back and forth opinions than I've ever seen crammed into two days, Padres general manager Kevin Towers has told reporters that the much-anticipated trade of Jake Peavy to the Cubs is not going to happen because Cubs general manager Jim Hendry has backed out of the deal.
"He said he's got other things going on. I respect his position," Towers said.
Other things would likely be locking down Milton Bradley to play right field, which has been the hot rumor of late for the Cubs. The sticking point was likely that the Cubs could not move Jason Marquis and/or wouldn't trade Mark DeRosa. In order to sign Bradley and acquire Peavy, those two contracts would have to be off the books.
For the Padres, they either have to wait until the Cubs come around, convince Peavy to increase his list of teams for which he's willing to pitch, or head into the 2009 season with him as their opening day starter.