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."


Earlier, there continue to be mixed signals regarding the rumored trade that would bring Cubs super utility man Mark DeRosa to the Phillies.

One insider said this afternoon that DeRosa remains the Phils' top priority – he could play second base until Chase Utley is ready to return from hip surgery and then could be at least a platoon player in left field – with Twins infielder Nick Punto as the back-up plan.

However, a highly placed Cubs source insists nothing is going to happen. "We're not trading DeRosa," he said flatly.

After spending a couple of days doing background checks on Twins outfielder Delmon Young, the 23-year-old former No. 1 overall draft choice of the Rays apparently remains on the Phillies radar, although a source said that's not a front-burner issue at the moment.