Mets reach agreement with K-Rod

LAS VEGAS -- Francisco Rodriguez became the first top-tier free agent to reach an agreement when he decided to join the New York Mets, and Kerry Wood was on the verge of striking a deal with the Cleveland Indians at the winter meetings.

Coming off a record 62 saves for the Los Angeles Angels, Rodriguez reached a preliminary agreement Tuesday on a $37 million, three-year contract with the Mets, desperate for bullpen help. The sides still have to work out a written agreement and the pitcher must pass a physical, two people familiar with the negotiations said Tuesday.

Cleveland was closing in on a two-year contract with Wood, the former Chicago Cubs starter-turned-reliever. Wood, who has had numerous injury problems in the past, also needs to pass a physical before the deal can be completed.

Other high-profile free agents are taking longer to determine their market value. A.J. Burnett and Derek Lowe likely will wait for CC Sabathia to make a decision. Mark Teixeira and Manny Ramirez also could become lengthy negotiations.

In the second trade of the four-day session, the Cincinnati Reds acquired catcher Ramon Hernandez and cash from the Baltimore Orioles for utilityman Ryan Freel and two minor leaguers.

The Dodgers reached preliminary agreements with third baseman Casey Blake (three years) and infielder Mark Loretta (one year), both pending physicals, a person familiar with those deals said, also on condition of anonymity.

So far this offseason, teams are being more cautious about spending money on players, causing agents to play a waiting game to determine whether prices will go up.

"I would suspect that it has mostly to do with the economy and both sides trying to gauge what impact that should have on the market," San Diego Padres chief executive officer Sandy Alderson said. "We are more mindful of the economy than we have been in the past."