12/11/08 1:25 PM EST Peavy-to-Cubs deal is off Padres GM Towers will meet with club officials to decide next step By Corey Brock / MLB.com LAS VEGAS -- San Diego general manager Kevin Towers told reporters Thursday that a proposed deal to send pitcher Jake Peavy to the Chicago Cubs was dead. "It doesn't look like anything is going to happen with the Cubs," Towers said. Towers indicated that Cubs GM Jim Hendry pulled out of the deal. "He said he's got other things going on. I respect his position," Towers said of Hendry. Towers said that he will meet with team CEO Sandy Alderson on Monday and speak with Peavy's agent, Barry Axelrod, in the coming days to see where they go next. Towers said one option is pulling Peavy off the trading block and going into the 2009 season with him at the front of the starting rotation. On Wednesday, Towers had said that in all likelihood a fourth team would need to be involved in a deal with the Cubs and the Phillies to ensure the Padres got the package of players -- Major League-ready pitching as well as prospects -- they wanted for the 2007 NL Cy Young Award winner. The Padres have been looking to deal Peavy's $11 million salary in 2009 and the remaining four years on a contract he signed a year ago that totals $63 million. Towers said on Wednesday that he thought the only thing holding up the deal was the need for the Cubs to move one or two contracts -- namely pitcher Jason Marquis and his $9.875 million salary and possibly second baseman Mark DeRosa and his $5.5 million salary for 2009. The Phillies were said to want DeRosa and were thought to be willing to trade left-handed pitcher J.A. Happ, 26, who was 8-7 with a 3.60 ERA at Triple-A Lehigh Valley a year ago. Happ profiles as the kind of pitcher the Padres like -- a strike-thrower with strong control -- and one who could slide into the starting rotation in 2009. There were some reports that a deal would include 24-year-old Kyle Kendrick, who was 11-9 with a 5.49 ERA with the Phillies last season. ________________________________ Starting the season with Peaves at the front of the starting rotation? I could deal with that. Let's Do It.:icon_toast: edit: Let's get Trevor's fine self back in here, too.