Details are still somewhat preliminary, but Jon Heyman of SI.com and Mark Feinsand of the New York Daily News are saying that the Braves have agreed to trade RHP Javier Vazquez and LHP Boone Logan to the New York Yankees for OF-S Melky Cabrera, LHP Mike Dunn, and a minor-league pitcher.
I'm going to hold off on too much commentary until we hear official confirmation, but if this is true, it's a clear loss for Frank Wren. Now you're stuck keeping a disgruntled Derek Lowe. You lose the best pitcher on your staff from last year. And all you get in return is a center fielder about to get expensive through arbitration and a lefty relief prospect who walked 5.6 guys per nine across Double-A and Triple-A last year? Shame.
UPDATE: Joel Sherman of the New York Post says the third player the Braves get is RHP Arodys Vizcaino. The sad part is that Vizcaino is likely the best player the Braves get. And he's 19 years old without full-season experience. He can touch 97 with his fastball, and he's got clean arm action, but what are the Braves going to use him for?
Author's note: This post originally stated incorrectly that Cabrera only had one year of control left. He has three years, but will go to arbitration three times.