8:52am: Papelbon would want his $13MM option for the 2016 season to be guaranteed in order to waive his no-trade clause, Salisbury reports. That presents an expensive obstacle in trade talks, but Salisbury hears that the Phillies are committed to moving Papelbon and letting Ken Giles inherit the closer’s role. ESPN’s Jayson Stark tweets that figuring out how much of Papelbon’s 2016 salary the Phillies would pay is the “last remaining obstacle” in trade talks.

8:18am: The 12 teams to which Papelbon cannot block trades are the Red Sox, Rays, Royals, Angels, Mariners, Astros, Mets, Braves, Cardinals, Reds, Cubs and Padres, reports Jim Salisbury of CSNPhilly.com (on Twitter).

Additionally, Rosenthal tweets that while the Blue Jays did reach out to the Phillies regarding Papelbon, their interest is still very limited. He adds that Papelbon has not yet been approached about waiving his no-trade clause for a move to the Brewers, indicating that talks have not yet reached advanced stages.

7:14am: The Brewers are indeed on Papelbon’s no-trade list, reports Ken Rosenthal of FOX Sports (Twitter links). Of course, that doesn’t mean that a deal can’t be worked out, particularly if Papelbon’s desire to have a chance at winning is still his primary focus. Rosenthal notes that the Phillies would need to send money to Milwaukee in order to facilitate a deal, in addition to getting Papelbon’s approval.

Rosenthal also tweets that the Blue Jays expressed interest in Papelbon in recent weeks, although they, too, are on the closer’s no-trade list

1:01am: The Brewers are in serious talks to acquire Jonathan Papelbon from the Phillies, reports Jeff Passan of Yahoo Sports (on Twitter). Earlier today, Jon Heyman of CBS Sports reported that Milwaukee was casting a wide net as it looked for pitching upgrades, and GM Doug Melvin said in an appearance on MLB Network Radio that adding bullpen help was his top priority.

It’s unclear at this time whether or not Milwaukee is on Papelbon’s no-trade list, Passan adds, although indications over the summer were that Papelbon would waive his no-trade protection to be moved to a contender. While the Brewers are far from a lock to achieve a postseason berth in 2015, they do appear to be better positioned than the rebuilding Phillies, who have traded away Antonio Bastardo, Jimmy Rollins and Marlon Byrd this offseason as the club looks to the future.

Papelbon, 34, is owed $13MM in 2015 and has a $13MM vesting option that will kick in this season if he reaches 48 games finished. Should Milwaukee ultimately reach a deal to acquire Papelbon, one would think that he’d supplant Jonathan Broxton as the club’s closer, making 48 games finished a highly attainable milestone. Of course, as Passan notes, it is not even clear at this time whether or not the Brewers are one of the 17 clubs on Papelbon’s no-trade list.

Though Papelbon’s velocity and strikeout rate have declined in recent seasons, his bottom-line results have remained largely intact. Papelbon’s heater sat at 95 mph in his final season with the Red Sox, but it dropped to 93.8 mph in 2012, 92 mph in 2013 and 91.3 mph in 2014. Nonetheless, Papelbon was still able to notch an excellent 2.04 ERA with 8.5 K/9, 2.0 BB/9 and a 41.9 percent ground-ball rate in a 2014 campaign that also featured 39 saves — the second-highest single-season total of his career.

The Brewers recently traded Yovani Gallardo and his $13MM salary to the Rangers, although Milwaukee remains on the hook for $4MM of that sum. Still, that salary reduction leaves the Brewers well-equipped to add some payroll, particularly if the Phillies elect to eat some of the remaining money on Papelbon’s contract, which many have assumed they would need to do in order to move him.

As it stands, Broxton figures to be closing games, with righties Jim Henderson and Tyler Thornburg serving as setup options alongside lefty Will Smith. Both Francisco Rodriguez and Rafael Soriano have been mentioned as possible bullpen targets for the Brewers, although for the time being, the trade market appears to be the more likely avenue for Doug Melvin to improve his bullpen.