MLB Rumor: Dye traded to Reds [Updated: Maybe not]

Accord to Hal McCoy (via MLBTR), the White Sox have traded Jermaine Dye to the Reds for Homer Bailey.

This is of note on this site because the Mets had been linked to Dye in the Fernando Martinez rumored trade.

From McCoy:

A major-league source close to the situation told The Dayton Daily News on Sunday, Dec. 7, "The deal is done and will be announced this week."

Guess you can scratch that trade off the list (thank goodness).

What is puzzling is that Bailey is a young guy, under contract for six years and Dye has one year left with a mutual option for 2010. I would have thought that the Reds could have gotten a little more for Bailey, who struggled last season, but I guess they thought the time was right.

Update: Lies! The Chicago Tribune refutes the story above.

A source familiar with the talks rejected a report in the Dayton Daily News quoting a "major-league source close to the situation" that a deal to send Sox right fielder Jermaine Dye to Cincinnati for pitcher Homer Bailey "was done and would be announced this week."

Also, check out that story for a tidbit on a broken down trade proposal with the Mets. Minaya refused to include Bobby Parnell, and trade talks stalled.

It's official. The Winter Meetings are going to be insane.