8/22 Report: Pena on waivers
According to reports, Carlos Pena was placed on waivers on Monday. Pena, 33, was hitting .222 with 23 homers in 480 plate appearances for the Cubs. If a team were to pick him up, they would have to be prepared to handle at least $5 million of his $10 million contract. Half of Pena’s total money was deferred until January 2012.
Alfonso Soriano and Carlos Zambrano also have cleared waivers, according to reports. Soriano is owed slightly more than $54 million through 2014. Zambrano is a little more complicated. He reportedly cleared waivers before he was placed on the disqualified list and is owed $18 million next season. There is a 2013 vesting player option for $19.25 million.
To be traded after the July 31 Trading Deadline, a player must be placed on waivers. If more than one team claims the player, the team with the weakest record in the player’s league gets preference. If no team in the player’s league claims him, the claiming team with the weakest record in the other league gets preference. If a player is claimed, the current team has the option of arranging a trade, rescinding the request and keeping the player, or doing nothing and allowing the claiming team to assme the player’s existing contract.
— Carrie Muskat