All you need to know: MLB rumors, news roundup for Nov. 27

Ted Lilly's 15-year career has come to an end.
Ted Lilly's 15-year career has come to an end. (USATSI)

MORE: FA tracker: position players | FA tracker: pitchers

Baseball's hot stove is about to take a little break for the Thanksgiving holiday. There will still be rumors and whatnot, but actual transactions figure to be on hold until next week. One team did manage to sneak in one last major pre-holiday signing on Wednesday, however.

Before we get to today's recap, make sure you head over the Jon Heyman's blog. He reported that LHP Manny Parra re-upped with the Cincinnati Reds on a two-year contract. Here is the rest of Wednesday's action.

SIGNINGS

Minnesota Twins : Agreed to sign RHP Ricky Nolasco to a four-year contract worth $49 million with a $13 million option ($1 million buyout) for a fifth year. The option can vest based on innings pitched from 2016-17. It's the largest free agent contract in team history.

ROSTER CUTS

Los Angeles Angels : Designated RHP Juan Gutierrez for assignment, the team announced. The move clears a 40-man roster spot for RHP Joe Smith , whose three-year contract is now official.

WAIVER CLAIMS

Texas Rangers : Claimed OF Rafael Ortega from the Colorado Rockies , the team announced. The 22-year-old hit only .228/.315/.297 in 42 Double-A games this past season.

RETIREMENTS

LHP Ted Lilly: Retired from baseball at age 37. He went 130-113 with a 4.14 ERA in parts of 15 big league seasons.

RUMORS & SPECULATION

Chicago Cubs : There's a "99 percent" chance they will trade RHP Jeff Samardzija . The Arizona Diamondbacks , Baltimore Orioles and Toronto Blue Jays have been the most aggressive suitors.

Diamondbacks: They will not hand out any big contracts to players with ties to performance-enhancing drugs. OF Nelson Cruz is the most notable available free agent with a PED stain.

Orioles: Willing to listen to offers for RHP Jim Johnson . They're facing a payroll crunch this winter and their closer is projected to earn $10 million or so in 2014.

New York Yankees : Met with Robinson Cano 's camp for the third straight day. The two sides are still far apart but Cano's demands have come down "very slightly."

CBS Sports Writer

Mike Axisa joined CBS Sports in 2013. He has been a member of the BBWAA since 2015 and has previously written about both fantasy baseball and real life baseball for MLBTradeRumors.com, FanGraphs.com, RotoAuthority.com,... Full Bio

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