Blue Jays, R.A. Dickey reach agreement

UPDATE 11:45am ET: The Blue Jays have agreed to extend R.A. Dickey through the 2015 season for $25 million, reports Ken Rosenthal of FOX Sports. The deal is for $1 million fewer than the knuckleballer sought from the Mets, but $5 million more than the club was willing to offer.

The blockbuster trade between the Blue Jays and Mets will be official once Dickey passes his physical in Toronto.

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ORIGINAL: Though the Toronto Blue Jays were given until 2:00pm ET on Tuesday to come to an extension agreement with knuckleballer R.A. Dickey -- in turn completing a seven-player trade with the Mets -- it appears as though the two sides will not need that much time to come to a deal.

It is believed that the two sides have reached an agreement and that an official announcement could come as early as Monday evening, reports Richard Griffin of the Toronto Star:

A horsehide cone of silence had seemed to descend over final day of negotiations between the Blue Jays and their highly-coveted Mets' righthander R.A. Dickey...

Reportedly, the Jays have been able to agree on the extension with Dickey, likely for more than the $26 million, two years, he had been seeking from the Mets...

Sources are now saying that negotiations with Dickey have ended successfully at an affordable rate and that the next step before an announcement can be made is for Jays' medical staff to examine the righthander at their spring training headquarters in Florida.

The Mets were unwilling to offer Dickey more than two years and $20 million in their discussions with the veteran, far less than he will likely get from the Blue Jays.

When/if the extension terms are agreed to deal, it will complete what is reported to be a seven-player trade between the Mets and Blue Jays. The Mets will send Dickey, catcher Josh Thole and a Mike Nickeas to Toronto in exchange for catcher Travis d`Arnaud, right-hander Noah Syndergaard, catcher John Buck, and Wuilmer Becerra.