From Ken Davidoff:

Whom would you rather have? CC Sabathia for six years and $150 million? Or Jake Peavy for four years and $63 million?

The Padres, coming off a 63-99 season, will at least explore a Peavy trade, general manager Kevin Towers confirmed to Newsday. ESPN's Buster Olney first reported that possibility this past week.

The Yankees are among the teams with prospects that interest the Padres, although it's not clear whether Peavy would waive his no-trade clause to come to the Bronx.