Paul Hagen reporting from the winter meetings ...
UPDATED, 5:56 p.m.
ESPN's Steve Phillips has reported that a three-sided deal that would bring Cubs infielder-outfielder Mark DeRosa to the Phillies could be imminent.
The former Mets general manager-turned-broadcaster said the Phillies would part with either lefthander J.A. Happ or righthander Carlos Carrasco plus top infield prospect Jason Donald.
They would be packaged with two Cubs prospects, outfielder Felix Pie and third baseman Josh Vitters and veteran righthander Jason Marquis and sent to San Diego for righthander Jake Peavy.
The Cubs would also sends cash to help offset the $9.875 million Marquis is scheduled to make in 2009.
Phillips, however, did hedge his report. "There's a chance it could get done later today," he said. "Or not at all."