He has now officially landed.
The Red Sox had been speculated as one of the teams interested, but talks obviously accelerated as the day dragged on.
So, just who won out on this multi-team, multi-player deal?
Let's take a look.
There's no question the Boston Red Sox hit it out of the park with this deal.
They receive a pitcher in Jake Peavy who's already shown that he can pitch pretty darn well in a hitter-friendly environment. Peavy was a perfect 5-0 with a 2.59 ERA in six starts at U.S. Cellular Field this season. He should feel right at home in Fenway Park.
Plus, Peavy gives the Red Sox a much-needed veteran arm with the absence of Clay Buchholz. Considering that it's possible Buchholz doesn't return this season, Peavy's presence in the rotation is a must, not a luxury, as indicated by Red Sox beat writer Rob Bradford on Twitter.
If—as Ben Cherington believes—Buchholz does come back, the Red Sox absolutely have the ability to match up with an outstanding Tampa Bay Rays rotation.
With the Boston Red Sox sending shortstop Jose Iglesias to the Detroit Tigers, it certainly appears that Jhonny Peralta's days in Motown are numbered.
That little ruling Dombrowski is referring to is the elephant in the room: the suspension that Peralta is almost sure to get due to his involvement with Biogenesis. At a minimum of 50 games, it takes him out of the rest of the regular season.
Dombrowski also said that fact had a lot to do with his decision to acquire Iglesias.
"I don't really know what's going to happen, 100 percent," said Dombrowski (via Tigers beat writer Matthew B. Mowery on Twitter). "But I read the same names that you read. And I got concerned."
In addition, Peralta's pending free agency means his time in Detroit has surely come to an end.
As much as Jhonny Peralta now has an uncertain future, Jose Iglesias has a future that's better than bright.
Had Iglesias stayed in Boston, he would have been battling for playing time in the future, as the Red Sox clearly view prospect Xander Bogaerts as their future at shortstop.
In addition, Iglesias' bat simply doesn't profile well at third base, a position where power reigns supreme. Now, he'll get the opportunity to work at his more natural position.
According to Chris Iott on Twitter, the Tigers see Iglesias as a long-term solution as well. He should be the starting shortstop on Opening Day next season, and he's under team control through 2018.
This is absolutely an ideal situation for Iglesias.
If there's one thing that pitchers absolutely love, it's defenders who have their backs. Jose Iglesias absolutely has his Tigers teammates covered in that regard.
Highly regarded for his slick glove, Iglesias clearly improves defense up the middle. And Buster Olney of ESPN is one who believes Tigers pitchers are secretly applauding the trade.
Together with Austin Jackson in center, the Tigers now have two plus defenders in very important positions.
The three-team, seven-player deal between the Red Sox, Tigers and White Sox also involved Tigers outfielder Avisail Garcia, who now moves to the Windy City.
For Alex Rios, that simply can't be good for his future.
Already rumored to be on the way out of Chicago, having Garcia in place for the future almost assures that Rios' days in a White Sox are numbered.
On just Tuesday alone, rumors were flying around, as reported by Tim Dierkes of MLB Trade Rumors, regarding where Rios might be headed. With Garcia in place for the foreseeable future, it certainly makes it easier for the White Sox to find a suitor.
Count White Sox general manager Rick Hahn as a believer in Garcia. Dan Hayes of CSNChicago.com quoted Hahn saying he "truly feels" Garcia is "a five-tool player."
Those kind words definitely seem to spell doom for Rios' career on the South Side.
Jake Peavy was saying all the right things about wanting to stay in Chicago. He had grown fond of the area and had comported himself as a class act during his time with the White Sox.
But in the end, Peavy has to be thrilled with this deal.
He's never had the opportunity to pitch for a team that has a real chance of postseason success. He's now moving from a team with the second-worst record in the American League to a team that's the second best.
As much as he may have loved Chicago, changing Sox makes Peavy a winner.
The Chicago White Sox are clearly in sell mode, having already traded away reliever Matt Thornton to the Red Sox earlier in the month.
The White Sox had declared themselves "open for business" in late June, and it was obvious that general manager Rick Hahn had already declared the 2013 season to be a lost cause.
Everyone but Chris Sale and Paul Konerko was tabbed as a potential trade chip, and it's possible that Wednesday could see even more veterans dealt as well.
This particular trade, however, just smacks of a salary dump.
The White Sox received three lower-level prospects from the Red Sox—minor league infielder Cleuluis Rondon and pitchers Francellis Montas and Jeffrey Wendelken. None of those three were among the Red Sox's top 20 prospects, according to MLB.com, and it's likely none of them will impact the White Sox roster before 2016.
The fact that no cash at all was included in the deal further shows that the White Sox were more concerned about future payroll.
They at least got back a possible star in Avisail Garcia, who's hit .269 in 53 games over parts of the last two seasons. If he turns into the five-tool player Hahn believes he can become, then the trade won't look nearly as bad on paper as it looks right now.
Fans of the AL East have to be absolutely thrilled at the prospect of Jake Peavy joining the Boston Red Sox.
With the Tampa Bay Rays continuing their red-hot play—now 21-4 in the month of July—they're in a dogfight with the Boston Red Sox at the top of the division standings.
An incredible run by the Rays starting rotation has helped them get past the Red Sox, so it was clear that the boys in Beantown needed to answer the Rays' charge in a big way.
Peavy gives the Red Sox another weapon in their attempt to hold off the hard-charging Rays. If Clay Buchholz can somehow manage to get back on field by late August/early September, the final month of the regular season promises to bring plenty of heart-stopping action.
And that doesn't even include the Baltimore Orioles, who aren't about to go away quietly.
Nothing like a good three-team race to raise the heart rate, and the deal bringing Peavy to the Red Sox certainly shows they're ready for a fierce battle.
Doug Mead is a Featured Columnist with Bleacher Report. His work has been featured in the Seattle Post-Intelligencer, SF Gate, CBS Sports, the Los Angeles Times and the Houston Chronicle.
Feel free to talk baseball with Doug anytime on Twitter.