Both the Cubs and World Series champion Phillies have entered the fray to land the Padres' ace.

Padres general manager Kevin Towers told FOXSports.com's Gerry Fraley earlier Monday that the team was only in talks with the Cubs.

"We should have a pretty good idea of where we are by Thursday," Towers said. "We should know if we could move on or drop it."

But the Phillies threw their name into the mix later Monday, FOXSports.com's Ken Rosenthal reported. The Padres like some of the Phillies' young minor-league pitchers, major-league sources told Rosenthal, but the talks are only in the preliminary stages.

Pitcher Jason Marquis may be a big factor in whether the Cubs can land Peavy. The team continues to seek a landing spot for the right-hander, whose $9.875 million salary would need to be cleared to create payroll flexibility for the addition of a left-handed hitter and/or Peavy.

No Peavy deal will be completed until the Cubs' new owner is decided, sources told Rosenthal. The new owner would need to approve the addition of Peavy, who is owed $63 million.

Towers also told Fraley that he approached Los Angeles Dodgers general manager Ned Colletti about a Peavy deal, but that did not gain traction because of the asking price of young talent.

Towers indicated that it is possible the Padres would start the 2009 season with Peavy in the rotation and put him back on the trade market in midseason.

FOXSports.com's Ken Rosenthal and Gerry Fraley contributed to this report.

Chicago Cubs News News » Cubs, Phils approach Pads about Peavy
Cubs, Phils approach Pads about Peavy
LAS VEGAS - At least two teams have expressed interest in Jake Peavy at the winter meetings. MLB Hot Stove