According to ESPN’s Buster Olney, Roy Halladay has agreed to a contract extension with the Phillies. Terms of the contract are undisclosed.

Here’s the breakdown on the four-team blockbuster, which now includes Oakland

Phillies Acquire (from Toronto)

• RHP Roy Halladay
• RHP Phillippe Aumont  (minor leaguer)
• OF Tyson Gillies (minor leaguer)
• RHP Juan Ramirez (minor leaguer)
• $6 million cash

Toronto Acquires (From Philadelphia/Oakland)

• C Travis d’Arnaud (minor leaguer)
• RHP Kyle Drabek (minor leaguer)
• 1B/3B Brett Wallace (minor league)

Seattle Acquires

• LHP Cliff Lee

Oakland Acquires (From Toronto via Phillies)

• OF Michael Taylor (minor leaguer)

More reaction to come …

Multiple reports, including FOXSportsnet, have the Phillies as the No. 1 bidder to acquire Roy Halladay.

However, Phillies GM Ruben Amaro Jr. is essentially denying those reports.

“I don’t think there’s any likeliness,” Amaro said, regarding the possibility of the Phillies being linked to Halladay. “There’s nothing likely …”

Is Amaro dicking everyone around? Verypossible. But, I think the Blue Jays are going to want J.A. Happ and a pair of top-level prospects, notably outfielder Domonic Brown and pitcher Kyle Drabek, OR Brown and outfielder Michael Taylor.

And I don’t think Amaro would pull the trigger if TWO of those young studs are required …

WITH THAT BEING SAID …

If a deal does happen, and the Phillies part way with those aforementioned prospects and Happ, it’s likely the team will shed salary. Joe Blanton, who will probably make around $7 million next year, would be probably be traded if Halladay comes to town.

So,  the Phillies’ rotation in 2010 would be Halladay, Cliff Lee, Cole Hamels, Jamie Moyer, Kyle Kendrick/Drabek…

Unfortunately, the Phillies are interested in John Smoltz and Jason Marquis to fill out the rotation …

The Philadelphia Inquirer is reporting that Roy Halladay could be coming to Philadelphia.

The Phillies are “very much in the picture” because ”Philadelphia is into winning now, and Halladay fits that,” said one rival team executive, according to the report.

Here we go again...

It is believed that the Blue Jays would not demand such a premium package considering Halladay is on the last year of his contract. A trade for Halladay would likely require stud  prospects Michael Taylor and Dominic Brown. Kyle Drabek remains untouchable, according to The Inquirer.

In addition to a top prospect (or two), J.A. Happ, Shane Victorino and Cole Hamels could also be discussed in trade talks.

In case you missed it, ESPN.com reported Sunday that the Phillies’ counteroffer for Roy Halladay was rejected.

The Phillies offered pitchers J.A. Happ and Carlos Carrasco,  outfielder Michael Taylor and infielder Jason Donald. The Blue Jays were not impressed.

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I’m convinced the Phillies have to offer Drabek to get the deal done. Why not come back with Drabek, Carrasco/Jason Knapp, Michael Taylor and Donald. It’s believed that the Jays want a big league ready player… but I think the Jays would be flexible if offered arguably your top four prospects…

J.P. Ricciardi and the Blue Jays are a lot like the Soup Nazi. "No Drabek?? No Halladay for you!" OK, lame, but for whatever reason this beloved Seinfeld character popped in my head just before I published...

In reality... this COULD happen!

There’s one week until the trade deadline and the Phillies appear to be the team in the best position to acquire Roy Halladay.

Everyone knows the deal by now. Blue Jays GM J.P. Ricciardi has thrown his best player under the bus by discussing the possibility of trading Halladay.

In recent days, Ricciardi has stated that Halladay “probably” won’t get traded. That’s just his way of upping the ante, trying to bait teams into offering the Jays a too-good-to-turn-down trade proposal.

Halladay’s trade value isn’t going to be higher than it is RIGHT now.

And, according to multiple reports and Internet blogs such as this one, the Phillies are the frontrunners to land Halladay. They have all the essentials to get it done.

Phillies GM Ruben Amaro should go to Ricciardi and tell him to pick four prospects. Any four.

That includes top pitchers Kyle Drabek, Carlos Carrasco and Jason Knapp, stud outfielders Michael Taylor and Dominic Brown, and catcher-of-the-future Lou Marson.

It boggles my mind when I hear Phillies fans say that giving up Drabek, for example, would be a huge mistake. Those people are the same fans who bitch and moan about the Eagles not acquiring a No. 1 wide receiver every year.

So what if Drabek develops into ace? The Phillies shouldn’t be worried about their future. They have a team built to win RIGHT NOW, and possibly win two or three more championships in the next 3-4 years.

Having Roy Halladay around for at least two seasons (2009 and 2010) would surely make them the favorite to win it all again.

GET IT DONE!!

From now to the end of the season, Phillies Phandom will spotlight a top prospect in the minor league system once a week. To get things started, here’s a look at Triple-A Lehigh Valley outfielder Michael Taylor.

GENERAL

Age: 23

Bats: Right

Throws: Right

Height: 6-6

Weight: 260

Position: OF

REPORT

Taylor is considered one of the Phillies’ top two position players in the minors. In 2008, Taylor burst on the organization’s radar screen with a stellar season at Single-A Clearwater.

It was an easy choice to promote Taylor to Double-A Reading for the start of 2009. From April-June, Taylor produced phenominal numbers — .333 batting average, 15 home runs and 66 RBI. Taylor was at or near the top of every major offensive category in the Eastern League. He led all players in hits ( 106), placed second in extra base hits (40), tied for second in runs (59), third in batting average (.333), RBI (65) and slugging percentage (.569), was fourth in homers (15) and fifth in stolen bases (18).

Last week, Taylor got the call to join Triple-A Lehigh Valley. He was hitless in his first two games with the IronPigs before going 2-for-3 with a two-run homer on Saturday.

If Taylor can avoid struggling in Lehigh Valley, he could be in the big leagues as soon as September.

Taylor is obviously a sexy prospect for teams inquiring about trading with the Phillies. If the Phillies hope to land Roy Halladay, for example, Taylor would likely be one of four or five prospects the Blue Jays would demand in return.

Fresh off Monday’s 22-1 shellacking of the Reds, Tuesday brought more good news if you’re a Phillies fan:

Lou Marson is one of the Phillies' best prospects... but I wouldn't mind seeing him dealt as part of a package for Toronto ace Roy Halladay.

Roy Halladay is for sale.

Well, kinda.

As seen on NLEastChatter.com, the Blue Jays are willing to listen to offers for their Cy Young winner. So, what do the Phillies have to do to get Halladay, arguably the best pitcher in the game today?

The Blue Jays would want a lot back in the trade, obviously. In other words, they’ll require at least two stud prospects and probably — from what I’ve been reading and hearing — an established major leaguer.

Believe it or not, the Phillies have the pieces in their system to make this trade possible. They have pitchers (Carlos Carrasco, Kyle Drabek), five-tool talent (Dominic Brown, Michael Taylor) and other intriguing talent (Lou Marson, a catcher, and Jason Donald, an infielder).

I’d be willing to see the Phillies deal ANYof those aforementioned players EXCEPT Drabek, who is on a collision course with the majors as we speak.

If Roy Halladay is available, you do whatever is possible to get him. I’ve always said that the Phillies are NOT playing for the future. They have Chase Utley, Ryan Howard and Jimmy Rollins, all of whom are in their prime and will be at their absolute best for the next 2-4 years. THE TIME IS NOW!

If the Phillies can get two, three world titles during this successful run they’re on, 99 percent of sane Philly fans will accept a rebuilding period in… let’s just say… 5-6 years from now.

However, I think the Phils would have to let go of a cheap big leaguer… (no, Chris Coste or Eric Bruntlett would not suffice)…

Jayson Werth, J.A. Happ and Shane Victorino are all making chump change. Of the three, I’d be most willing to trade Werth. Victorino and Happ, in my opinion, are much more valuable….

Something tells me, though, that Toronto will not move Halladay by the July 31 trade deadline, which is a shame because it’s not like the Blue Jays will win in the AL East anytime soon. Halladay is being wasted in Toronto, through the 2010 season…