UPDATE: The trade has been announced.

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Moments ago it was reported the Chicago White Sox and Los Angeles Dodgers were nearing a deal involving Chicago's top pitching prospect Frank Montas. Rumors indicate it is now a three-team trade with the Cincinnati Reds and third baseman Todd Frazier is going to the White Sox.

Jeff Passan of Yahoo! Sports first reported the deal between the White Sox and Dodgers and FOX Sports' Ken Rosenthal followed that up with news of the Reds' involvement, making it a three-team transaction with Frazier heading to Chicago.

Jon Heyman of CBS Sports added the Dodgers are sending prospects Jose Peraza, Scott Schebler and Brandon Dixon to Cincinnati. He also noted Los Angeles will acquire Montas, Micah Johnson and Trayce Thompson from the White Sox. Frazier is the only player the Reds will surrender.

Heyman says Peraza was initially part of the trade that was supposed to send Reds closer Aroldis Chapman to Los Angeles before it was called off due to the veteran's alleged involvement in a domestic violence incident.

So in case that was too much to digest, here's the breakdown:

Reds get Jose Peraza, Scott Schebler and Brandon Dixon

Dodgers get Frank Montas, Micah Johnson and Trayce Thompson

White Sox get Todd Frazier

 

 

The White Sox now have themselves a third baseman and the Dodgers and Reds added to their farm systems. Los Angeles traded prospects for prospects as Rosenthal says the team felt Schebler didn't fit into their plans and had already considered trading Peraza. Dixon also wasn't among their top prospects.

As for the Reds, Heyman says they "love" Peraza, but the rest of the players perhaps don't seem as if they maximize the return for Frazier. Schebler, some would argue, took a step back in 2015 when he batted .241/.322/.410 with 57 runs scored, 13 home runs, 50 RBI and 15 stolen bases in 121 games at Triple-A after hitting 55 home runs and 164 RBIs combined the two seasons prior with High Class-A and Double-A. Dixon hasn't been among the Dodgers' top 30 prospects since 2013.

So much for the rumors stating the Reds were seeking a team's top position and pitching prospects in return for Frazier. The Dodgers were much closer to getting that, as Montas was ranked No. 2 overall (and top pitching prospect) in the White Sox organization and Thompson was ranked No. 9 overall by Baseball America. They also may have replaced the loss of Peraza in getting Micah Johnson, who was perhaps blocked from earning a full-time promotion due to the presence of Carlos Sanchez.

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