Gordon Wittenmyer of the Chicago Sun-Times says "those close to Jim Hendry expect him to restart the Jake Peavy talks." This is because the Cubs have unloaded salary with Jason Marquis( and DeRosa) and Jim even said yesterday he wanted to add another pitcher before the start of the season.
Hendry would still have to get an OK from the new ownership before absorbing Jake Peavy's contract because his contract would have an effect on the 2010 payroll. The only players that signed this year that have effected the 2010 payroll are Aaron Miles, Ryan Dempster, and soon to be Milton Bradley, but that amount was already approved by the front office before the winter meeting began.
Wittenmyer thinks the new ownership could be in place in just enough time for the Cubs to make a deal for Peavy. He also notes Braden Looper and Tim Redding would be a better fit financially than Lowe( assuming they do not get Peavy). Dave van Dyck of the Chicago Tribune wonders if Pettitte would be a fit( you know I do because he would likely just take a one year deal). The pitchers I have targeted are here.
I still think the Peavy deal will eventually get done. The Padres need to unload his contract and Peavy has made it know he want to be a Cub. Another reason is the Padres have already damaged the relationship with Jake Peavy and his agent. Jake thought for sure he would be a Cub and even signed autographs that said "GO CUBS GO'' in Vegas. So just having Peavy in a Padres uniform just won't do. Not only that, if Jake Peavy for some reason gets hurt during the season or spring training the Padres would be stuck with a massive contract and no one to unload it on because he is injured( you cannot trade an injured player). That is something the Padres can't risk, so they won't. I would not doubt Jake is in a Cubs uniform but Spring Training or the latest during ST.
There is just too much that has already taken place for him not to end up in Chicago!