Earlier, Heyman reported that Halladay and the Phillies agreed to a three-year, $60 million contract extension that would keep Halladay in red pinstripes through 2013. ESPN’s Buster Olney also reported that Halladay’s negotiations with the Phillies are “complete” and that the 32-year-old ace is undergoing a physical on Tuesday morning.

Heyman reports that the contract will have two vesting options with the Phillies once the “pending megadeal” becomes official.

The details of the three-team swap are not yet official, though the following scenario has been reported by ESPN:

• Phillies get: Halladay and $6 million from Toronto, Phillippe Aumont, Juan Ramirez and Tyson Gillies from Seattle.
• Mariners get: Cliff Lee from Philadelphia.
• Blue Jays get: Kyle Drabek, Michael Taylor, Travis d’Arnoud from Philadelphia.

Olney added an interesting tidbit, saying that the “sentiment within some corners of NYY organization is that TOR got less talent than what they would’ve required from the Yankees in a deal.”

If that’s true then why did the Blue Jays go this way? It seems that the new young GM may have been fleeced by a more experienced one if it turns out to be true.