Pitcher Kyle Lohse and the St. Louis Cardinals are close to an agreement that will keep the right-hander with the team. The team has scheduled a news conference for Monday afternoon at Busch Stadiumwhen where they are expected to announce a new contract with Lohse. The deal is rumored to be for four years and worth at least $40 million. "We're close," Lohse said Sunday after being scratched from a scheduled start. "That played into part of why I didn't go out there today. I would have liked to pitch on the last day, but there's other things going on. That's kind of where we're at." Lohse was 15-6 with a 3.78 ERA in 33 starts this season.

The Pirates today announced they have agreed to terms with third baseman Pedro Alvarez, the club's first round selection (second overall) in the 2008 First-Year Player Draft. Alvarez will report to the Pirates Instructional League in Bradenton, Florida, where he will begin his professional career. To make room for Alvarez on the Club?s 40-man roster the Pirates have placed pitcher Tom Gorzelanny on the 60-day disabled list.

The Pirates and Pedro Alvarez have agreed on a revised four-year contract worth a guaranteed $6.355M, according to a report from the Pittsburgh Post-Gazette on Monday. The newspaper reported that Alvarez will officially sign the contract following a physical this week. According to one of the newspaper?s three sources, the grievance hearing against the commissioner?s office will now be dropped.

The Red Sox have exercised a one-year option for reliever Hideki Okajima?s contract in 2009, as reported by Yahoo.com on Saturday. Okajima signed a two-year deal worth $2.5M in November 2006, which included a $1.75M option for 2009 if he made 115 appearances over his first two seasons.