But would Peavy play in Philadelphia?
"I have not discussed Philly with Jake because nobody has asked us to discuss Philly," said Peavy's agent, Barry Axelrod.
Peavy has a full no-trade clause, which means he can veto any trade. He recently vetoed a trade to the Chicago White Sox.
Of course, to get to that point, the Phillies and Padres first would have to agree on the talent the Phillies would send to the Padres, which would be considerable. The Phillies also would have to be willing to take on the remaining $63 million on Peavy's contract, which is not a given.
The Phillies already have a franchise-record payroll of more than $130 million.
Axelrod talked about Peavy's criteria for a trade.
"He has a strong preference to play in the National League," he said. "He also wants to play for a contender. Both of those two things play into Philly's hands. ... The personnel is awesome. If there is one downside, it's the geographical difference for him, given that he has made his family home in the San Diego area."
Could the distance between Philadelphia and Southern California squash a deal?
"It's not a controlling factor, but it is a factor," Axelrod said.
Todd Zolecki is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.