As Day 2 of the 2014 Major League Baseball winter meetings winds down in San Diego, rumors are swirling like so many late-autumn leaves.

The fate of Jon Lester, arguably the biggest prize in a rich free-agent pitching market, remains in the air as of this writing. And there’s plenty of other innuendo and scuttlebutt (gotta love those “well-placed sources” and “people familiar with the team’s thinking”) to go around.

Amid the rampant hot-stove speculation, however, actual deals have been consummated. Let’s examine the most recent moves and run through some notes and rumblings, with the obvious caveat that everything can change in a hurry—which is what makes all of this fun.

Begin Slideshow