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A quick refresher: the San Diego Padres are in the process of being sold by current owner John Moores to a consortium group, led by former Diamondbacks CEO Jeff Moorad.

Moores was ostensibly forced to sell the team because of divorce proceedings (gotta split the baby), and similarly was hoping to cut payroll dramatically. In fact, he decreed that the payroll needed to be under $40 million. Because it currently stands at $45 million or so, most thought it mean Jake Peavy was out the door – and probably to the Chicago Cubs.

Enter Jeff Moorad. The question became, how faithfully would he hold to the decree of a $40 million payroll? No one really knew. The Peavy trade rumors died down.

As a general matter, most Chicago Cubs fans have given up hope for a Jake Peavy trade. But that’s not going to stop the traditional media – or us, for that matter – from writing about every new little snippet of information that comes up.

This time, it’s about the sale of the San Diego Padres.

The Padres are in the process of being sold to Jeffrey Moorad, with whom they have had sole negotiating rights for the past several months.

“There’s a lot of buzz around here that Moorad may or may not have the financing together for the deal,” said Barry Axelrod, the agent for the 2007 NL Cy Young Award winner. “Time will tell.” chicagotribune.com.

The Tribune takes that to be a potential snag to a Cubs-Peavy deal, but I actually read it the other way. If Moorad has trouble getting financing and the deal can’t go through, the Padres are more likely to stick to the hardline $40 million payroll decreed by current owner John Moores.

To get to that number, there are only two guys the Padres could move. Brian Giles, who is owed $9 million, has a no-trade clause, and loves San Diego.

And then, Mr. Peavy.

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