MLB Trade Rumors: Latest on Madison Bumgarner, J.T. Realmuto, Sonny Gray

The MLB winter meetings have arrived, and with the free-agent market and the trade block both already in full swing, it could be a busy week from Mandalay Bay Resort in Las Vegas, Nevada.

While all eyes will be on marquee free agents Bryce Harper and Manny Machado as they continue to mull their options, it's the trade market that could wind up stealing the headlines.

Ahead is a look at the latest notable trade rumors from around baseball.

Giants "Not Close" to Trading Madison Bumgarner

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With Patrick Corbin and Nathan Eovaldi already signed, the trade market for starting pitching could move quickly during the winter meetings.

That said, those who are expecting to see San Francisco Giants ace Madison Bumgarner dealt would be wise to temper those expectations.

The "next key domino" on the pitching market is thought to be veteran lefty J.A. Happ, according to Jon Morosi of MLB Network.

Dallas Keuchel is the other top-tier starter still looking for a new home, and he too could be off the market by the time the winter meetings wind to a close.

Once those players sign, the Giants could then ramp up efforts to deal their homegrown ace, who is a year away from his own trip to free agency.

Bumgarner, 29, has dealt with freak injuries the past two seasons. He suffered a shoulder injury in a dirt bike accident in 2017 and a fractured hand on a line drive back to the mound during spring training this past season.

His free agent stock will come with inevitable questions of how much tread is left on the tires, but as a one-year rental for 2019, he's an attractive trade chip for any contender looking to bolster the starting staff.

Padres Among Teams With "Genuine Interest" in J.T. Realmuto

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As rumors continue to swirl around Miami Marlins catcher J.T. Realmuto, the San Diego Padres have emerged as a suitor to watch.

That's an interesting development since the Padres already have a young defensive standout in Austin Hedges and one of baseball's top catching prospects in Francisco Mejia.

Hedges, 26, has posted a rather pedestrian 82 OPS+ over the past two seasons as San Diego's primary catcher, though he did slug 32 home runs during that time. His real value comes in his defense, as he's racked up a staggering 32 DRS behind the plate the last two years.

As for Mejia, he would almost certainly be part of the return package heading to Miami.

The 23-year-old is still a work in progress defensively, but his bat is MLB ready. He hit .293/.338/.471 with 30 doubles, 14 home runs and 68 RBI at Triple-A last season.

The Padres have been unwilling to part with Fernando Tatis Jr., MacKenzie Gore and Luis Urias in trade talks with the New York Mets for Noah Syndergaard, according to Jon Heyman of Fancred. It stands to reason that they would be off the table in a potential Realmuto trade as well.

That said, a package built around Mejia and one of the team's other top-tier pitching prospects like Chris Paddack, Adrian Morejon or Michel Baez might be enough to get a deal done.

Yankees and Padres Still Discussing Sonny Gray

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Sonny Gray might be the most likely player to be moved during the winter meetings, and a number of teams have already been linked to the intriguing buy-low candidate so far this offseason.

The Padres are among the team's that have checked in, and their interest has not waned.

Gray, 29, struggled to a 4.90 ERA and 1.50 WHIP in 130.1 innings for the Yankees this past season, and those numbers were inflated by his significant struggles at home.

He was crushed to the tune of a 6.98 ERA and 1.90 WHIP in 59.1 innings at Yankee Stadium, compared to a 3.17 ERA and 1.16 WHIP in 71 innings on the road. Even his strikeout rate fluctuated greatly, as he whiffed batters at a 9.9 K/9 rate on the road, compared to 6.8 K/9 at home.

A move to pitcher-friendly Petco Park could be just what he needs to rebuild his stock before reaching free agency next winter.

All stats courtesy of Baseball Reference and FanGraphs, unless otherwise noted.