Ken Rosenthal reports that, "an agreement between the Jays and Wells is close, according to major-league sources".

Jeff Blair writes that the Jays have offered a contract to Vernon Wells that would place Wells among the "top-10 highest-paid players in the major leagues and likely exceed the average annual value of the free-agent deal Alfonso Soriano signed with the Chicago Cubs this winter."

"We have made a formal offer," Blue Jays general manager J.P. Ricciardi said Tuesday.

It's decision day for arbitration eligibles. Who will be non-tendered? In other news, the Rangers signed Eric Gagne to a 1 year contract, while PECOTA likes Matsuzaka 4.01.

What you got?

Gil Meche for 5 years at $11 million per annum to the Royals.  The Mariners send Rafael Soriano to the Braves for Horacio Ramirez. And all is quiet, so far today, on the home front. 

Today, we have a "you supply the punch-line" joke.  What do you call it when John Schuerholz and Bill Bavasi spend 20 minutes in a room together alone?  Please keep it G-rated.

Jeff Blair reports that the Jays have reached an agreement with Matt Stairs. Terms of the deal were not disclosed.

"I expect I'll be doing the same thing with Toronto that I've done most of my career: play a little first base, DH to spell off Frank (Thomas), and be a bat off the bench late in the game."

The Blue Jays signed catcher Jason Phillips to a 1 year, $500,000 contract.

Jeff Blair says it's a done deal with the Jays and Zaun. Two years, $7.25 million, with an option for a third year based on games played. (thanks to China fan for the heads up)

JP Ricciardi confirmed the Zaun signing today.

There's a new catcher in town.

UPDATE: Or maybe not....... TR Sullivan at MLB.com wrote that the Barajas deal fell apart, Barajas changed agents and canceled his trip to Toronto.

Jeff Blair reports that the Jays are in negotiations again with Zaun and that the Barajas signing isn't the done deal that was published as done this morning, pending a phyiscal, and confirmed by Barajas' agent.

"One of these guys is going to be the Blue Jays catcher," a source close to negotiations said late Monday night.

Buster Olney wrote that the Jays were "on the verge" of re-signing Gregg Zaun and "it was not immediately clear if the Barajas deal fell apart".

UPDATE 2 (11:45pm): General manager J.P. Ricciardi said late Monday the team was negotiating with Zaun, and the deal with Barajas was not going ahead. Ricciardi declined to comment about why the contract with Barajas wasn't completed.

"We don't have an agreement with anybody at this point,'' Ricciardi said.

Asked if he still had interest in Barajas, Ricciardi said he couldn't comment right now. Asked if he hoped to sign Zaun this week, Ricciardi said: "Yeah. I hope to have something done with somebody this week.''

A few notable signings today:

• According to Peter Gammons Justin Speier signed a four year deal to join the Angels. Ken Rosenthal has the deal at 4 years and $18 million.
  
• The Cat came back - Ken Rosenthal also reports that Jays OF Frank Catalanotto is close to signing a three year deal with the Rangers.
  
• Cubs sign Soriano for 8 years and $136 million ... coming on the heels of the Mark DeRosa signing, we are left with just one question -- what former Texas Ranger 2B could possibly be in the Cubbie crosshairs next?

The Big Hurt is coming to Toronto.

Update: The reliable Jeff Blair writes that it's a two year deal for $18 million with a vesting option for a third year based on plate appearances that could push the total value to $30 million. (thanks to KevinJaysFan for linking that)

Update 2: The contract is for $10 million in year 1, $8 million in year 2, and $10 million in year three if Thomas reaches an unknown threshold of plate appearances.

Update 3:  The signing is official now.