Rays signed 1B Carlos Pena to a one-year, $7.25 million contract. The two sides agreed to terms late last week, but the deal was made official Tuesday. Pena, 33, batted .225/.357/.462 with 28 home runs and 80 RBI across 606 plate appearances last season for the Cubs. Tropicana Field isn't nearly as favorable for left-handed power as Wrigley Field, so we're not expecting a major bounceback in his return to the Rays. He hasn't batted higher than .227 since 2008, so he's only a consideration in deeper mixed and AL-only formats.

Jon Heyman of CBSSports.com reports that the Rays and free agent first baseman Carlos Pena have agreed to terms on a one-year deal. Tim Brown of Yahoo! Sports reported earlier Friday that talks were progressing, and evidently a deal has been struck. Heyman says Pena will earn $7.25 million in 2012. It's a great fit, as the Rays could use some more sock to their lineup and had a big hole at first base. Pena, 33, batted .225/.357/.462 with 28 home runs and 80 RBI across 606 plate appearances last season for the Cubs. He was also being pursued by the Indians.

Tim Brown of Yahoo! Sports reports that the Rays "are in pretty deep" on Carlos Pena. A reunion between the two makes perfect sense, and it would seem like money might be the only obstacle in getting something done. Pena has drawn interest from the Indians and has been speculatively linked to the Yankees and Tigers, but it seems likely the momentum is swinging towards the Rays, who have a glaring opening at first base. Pena, 33, batted .225/.357/.462 with 28 home runs and 80 RBI across 606 plate appearances last season for the Cubs.

According to CBS Sports' Jon Heyman, Carlos Pena is drawing interest from the Indians. He's also being considered by the Yankees and has been linked to the Tigers. Pena, 33, batted .225/.357/.462 with 28 home runs and 80 RBI across 606 plate appearances last season for the Cubs. He'd make for a solid addition at DH or first base for the Tribe. They've also expressed some interest in Casey Kotchman.

CBS Sports' Jon Heyman reports that the Yankees only have $1-$2 million to spend on a DH. If Pena is willing to accept a contract of that value, he'll be welcomed with open arms by the Yankees. But he's likely to do far better financially as teams get more desperate to add power before the start of spring camp. The 33-year-old first baseman batted .225/.357/.462 with 28 home runs and 80 RBI in 606 plate appearances last season for the Cubs.

According to Jon Heyman of CBSSports.com, the Yankees now have free agent Carlos Pena on their radar. The Yankees are set to trade Jesus Montero to the Mariners in a four-player deal, so they suddenly have a need for another hitter. Pena would make some sense, but they are likely considering other names, as well. The 33-year-old batted .225/.357/.462 with 28 home runs, 80 RBI and an .819 OPS over 606 plate appearances with the Cubs last in 2011. He has also drawn interest from the Indians and Rays this offseason.

According to Paul Hoynes of the Cleveland Plain Dealer, the Indians like Carlos Pena and went to ownership to see if they could make a deal work. However, ownership has yet to make a decision on the matter. Pena, who turns 34 in May, batted .225/.357/.462 with 28 home runs, 80 RBI and an .819 OPS over 606 plate appearances with the Cubs last season. Progressive Field is generally considered pitcher-friendly, but at least caters to left-handed power. The veteran first baseman has also reportedly drawn interest from the Rays.

Carlos Pena's agent Scott Boras said Tuesday that he is talking to "a number of clubs" about his client. The market for Pena has been fairly quiet this winter, leading some to speculate that he could return to the Rays. Boras didn't dismiss the possibility, but insisted that his client has drawn interest from other clubs. Of course, we wouldn't expect him to say anything less. The 33-year-old first baseman batted .225/.357/.462 with 28 home runs, 80 RBI and an .819 OPS over 606 plate appearances with the Cubs last season.

Jon Heyman of MLB Network reports that Carlos Pena is "in play as a possibility" for the Cardinals. It sounds like Heyman might be speculating rather than reporting that they have legitimate interest. Pena would make sense if the Cards are worried about Allen Craig's recovery from knee surgery, but if Craig returns healthy, they'll put him in right field and Lance Berkman at first base. Heyman notes that the Cards could also look at Jimmy Rollins and/or Carlos Beltran. He says there's "no word yet" on if they'll consider going after Prince Fielder.

MLB Network's Jon Heyman reports that Carlos Pena will not accept arbitration from the Cubs. Not a big surprise, as Pena is looking for a multi-year contract in free agency. The Cubs would receive a sandwich pick if signs with another team. The 33-year-old first baseman had an .819 OPS and 28 homers in 153 games this past season for the Cubs.