The latest news and rumors

A quick summary of Monday's notable news and rumors...

• Tampa Bay Rays right-hander Jeremy Hellickson underwent surgery on his elbow last week and now is expected to be out to mid-May. The 2011 American League Rookie of the Year struggled in 2013, while posting a career-high 5.17 ERA and a career-low 74 ERA+.
• Jim Bowden of ESPN reported earlier that the Red Sox had offered free-agent shortstop Stephen Drew a two-year deal. The date of the offer and financial terms are currently unknown. 
• The Nationals have discussed a trade of catcher Jose Lobaton with the Rays, Bowen also noted. Currently sitting at third in the Rays' depth chart, Lobaton could make a nice backup for Wilson Ramos, the current National backstop.
• Four free agents, Oliver Perez, Jeff Baker, Francisco Rodriguez, and Suk-min Yoon, are close to signing, agent Scott Boras told Jon Morosi of Fox Sports. Yoon, a top South Korean pitching prospect, has drawn interest from numerous teams as they look to add a young end-of-rotation starter. These signings could be the initial dominoes to fall as the offseason winds down.
• The Mets have signed reliever Kyle Farnsworth to a minor-league deal. Even so, they are pursuing a reliever with closing experience to be their closer in 2014. The club is unlikely to land Francisco Rodney, according to Marc Craig of Newsday. Other options include Kevin Gregg, Joel Hanrahan, and Ryan Madson.
• The three finalists for A.J. Burnett appear to be the Phillies, Orioles, and Pirates, Robert Murray of Sports Injury Alert writes. Consider the Orioles and Phillies to have the best chance to land Burnett, as the Pirates may be unwilling to offer Burnett what he would like.
• And finally, the Cubs are "kicking the tires" on pitcher Bronson Arroyo, but he may have to come down in years, reports Julie DiCaro of the Chicago Tribune. He currently wants a three-year contract.