2:57pm: Martino says Pedro’s physical will take place tomorrow morning at 10am CST.

11:52am: Andy Martino reports that Pedro landed in Philly for his physical.

10:37am: Ken Rosenthal of FOX Sports hears that the physical will take place tomorrow, which means Pedro could sign as soon as Wednesday. Pedro, who should be ready for the majors in about three weeks, is expected to sign for less than $5MM prorated.

8:42am: MLB.com’s Todd Zolecki says Pedro will fly to Philadelphia today and take a physical today or tomorrow. Martinez should sign in the coming days if he passes his physical.

1:35am: WCAU-TV’s John Clark is reporting that Pedro Martinez “may be touching down in Philadelphia Monday to meet with Phillies officials.”  Tentative phrasing, but enough to catch ESPN’s eye.  That Marc Stein ESPN article credits Jayson Stark with some info as well:

After arriving, it is believed Martinez will take a physical, which appears to be the final obstacle standing in the way of the 37-year-old right-hander signing with the Phillies for the remainder of the season.

I’m thinking Pedro will get a couple million bucks, and we’ll all talk about the prorated amount to make him feel better.  If a deal is reached, does Martinez have enough left in the tank to bring down the Phils’ 5.04 rotation ERA?  The team’s high-octane lineup would be paired with a rotation of Cole Hamels, Joe Blanton, J.A. Happ, Jamie Moyer, and Martinez.  I’m curious to see where Pedro would slot into the playoff rotation should the Phillies’ four-game division lead hold up.

More food for thought: ESPN’s Buster Olney said Thursday that a Pedro signing wouldn’t affect a Roy Halladay pursuit.  Would Moyer be the odd man out in the event of a deal, despite the money owed to him through 2010?  -mlbtraderumors.com

Pretty interesting concept….. lets not talk about this too much though.  Lets leave it for speculation right now