The signing of Jose Molina seemed to indicate the Rays were no longer in the market for a catcher. We may have been wrong.

Rumors are circulating that the Rays may have landed Ryan Hanigan.

#Reds trading catcher Ryan Hanigan to #Rays, sources tell me and @jonmorosi. May be three-team deal. — Ken Rosenthal (@Ken_Rosenthal) December 3, 2013

Ryan Hanigan is being traded to the Rays, a team that has long coveted him. — Buster Olney (@Buster_ESPN) December 3, 2013

The Rays are trading for a C with a .359 career OBP and some of the best pitch-framing skills around.Thank God SOME things still make sense. — Rany Jazayerli (@jazayerli) December 3, 2013

Updating as the story develops. The assumption is that one of Jose Lobaton may have been traded to facilitate the deal. Lobaton is out of options, and could not be sent to Durham next year.

You can find our previous coverage on Ryan Hanigan here.

Hanigan is praised for his defense behind the plate. With a strong ability to control the running game, having led the league in caught-stealing percentage the past two seasons (48% in '12, 45% in '13), Hanigan is also well known for his ability to frame the strike zone, not much unlike his projected counterpart Jose Molina.

-DR

UPDATE - 12:50

Topkin hears the Rays plan to use Hanigan as the starting catcher, and may have signed him to a long term deal.

Hearing Hanigan will be #Rays primary catcher, so maybe Lobaton is being dealt. And Hanigan, who was arb eligible, could sign multiyear deal — Marc Topkin (@TBTimes_Rays) December 3, 2013

Molina and Hanigan on the same team? What is this, the Lourve? (That was a frame joke) — Cespedes Family BBQ (@CespedesBBQ) December 3, 2013

UPDATE - 1:25

Jeff Passan heard rumbling of activity out of Oakland, and Will Carroll confirms they are the third team involved in the trade.

Hearing Oakland is third team involved in Reds-Rays deal. This should be fun. — Will Carroll (@injuryexpert) December 3, 2013

UPDATE - 1:40

The Athletics now appear involved in a deal for Craig Gentry deal, which may or may not be the A's rumors from earlier.

Sources: Oakland acquires Craig Gentry, Texas gets Michael Choice. More pieces involved. — Jeff Passan (@JeffPassan) December 3, 2013

Additionally, Olney confirms the Rays have given Hanigan a contract extension.

Ryan Hanigan will get multi-year deal as part of this trade to the Rays... — Buster Olney (@Buster_ESPN) December 3, 2013

UPDATE - 1:50

Whoops, A's are out. Keep speculating!

Source: #Athletics are NOT the third team in the Hanigan trade with #Rays and #Reds. — Ken Rosenthal (@Ken_Rosenthal) December 3, 2013

UPDATE - 2:10

Word on the street is that Arizona is the third team involved.

#Reds deal is 3-way with Rays, D-Backs. Don't know players yet. Should be announced shortly. — John Fay (@johnfayman) December 3, 2013

UPDATE - 2:50

HEATH BELL IS INVOLVED

I don't even know anymore.

#Dbacks Bell was told at the time of the deal he will have a chance to pitch in the ninth inning. — Jack Magruder (@JackMagruder) December 3, 2013

Heath Bell going to #Rays. Trade with #Reds, #DBacks required approval from commissioner’s office, meaning more than $1M involved. — Ken Rosenthal (@Ken_Rosenthal) December 3, 2013

Hanigan extension is 3 years, $10.75M

Ryan Hanigan receives a 3-year deal from #Rays for $10.75 million with 4th year option that could be worth $13.7 — Bob Nightengale (@BNightengale) December 3, 2013

Four year extension? That's so Rays. Don't worry, not all your favorites are getting traded away.

Breaking News: I will not be traded! #Rays — Raymond (@RaysRaymond) December 3, 2013

UPDATE - 3:00

Where is Lobaton going?

Reports and rumors of #Rays moves keep swirling. Just heard Lobaton could be going to #whitesox, tho not confirmed. — Marc Topkin (@TBTimes_Rays) December 3, 2013

Four team trade?

UPDATE - 3:10

Of his $9M salary, Bell should have $3M paid by Miami, and $500K by Arizona.

Since the #Dbacks are paying only $500,000 of Bell's salary, they now can use the savings to get a closer or setup man. — Bob Nightengale (@BNightengale) December 3, 2013

Full breakdown of trade? Might be:

#DBacks get RHP Justin Choate, player to be named, per source. Bell, Hanigan, $$$ to #Rays, Holmberg to #Reds, Choate and PTBN to #DBacks. — Ken Rosenthal (@Ken_Rosenthal) December 3, 2013

with that PTBNL coming from the Rays.

UPDATE - 3:26

Yearly breakdown of Hanigan contract:

<blockquote class="twitter-tweet" lang="en"><p>Details of Ryan Hanigan deal w/ <a href="https://twitter.com/search?q=%23Rays&src=hash">#Rays</a>, per <a href="https://twitter.com/TBTimes_Rays">@TBTimes_Rays</a>: $2.75M in 2014, $3.5M in '15, $3.7M in '16, $3.75M option or $800K buyout in 17</p>— Bob Nightengale (@BNightengale) <a href="https://twitter.com/BNightengale/statuses/407964278595923968">December 3, 2013</a></blockquote><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

And how much the Rays will pay of Bell's salary:

<blockquote class="twitter-tweet" lang="en"><p>The <a href="https://twitter.com/search?q=%23Rays&src=hash">#Rays</a> are paying $5.5 million of Bell's $9 million salary, and the <a href="https://twitter.com/search?q=%23Dbacks&src=hash">#Dbacks</a> will get solid prospect back from <a href="https://twitter.com/search?q=%23Rays&src=hash">#Rays</a> and savings for SP/OF</p>— Bob Nightengale (@BNightengale) <a href="https://twitter.com/BNightengale/statuses/407967484365389824">December 3, 2013</a></blockquote><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

UPDATE - 3:32

Trade officially confirmed by the Rays.

<blockquote class="twitter-tweet" lang="en"><p>Rays, <a href="https://twitter.com/Reds">@Reds</a>, <a href="https://twitter.com/Dbacks">@Dbacks</a> complete 3-way trade. Rays get C Ryan Hanigan and RHP Heath Bell; send min. lg. RHP Justin Choate and PTBNL to D-backs.</p>— Tampa Bay Rays (@RaysBaseball) <a href="https://twitter.com/RaysBaseball/statuses/407970067951804416">December 3, 2013</a></blockquote><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

In former Rays player news in the midst of all of this, congrats to Eric Hinske!

<blockquote class="twitter-tweet" lang="en"><p>Congrats to Eric Hinske who becomes the <a href="https://twitter.com/search?q=%23Cubs&src=hash">#Cubs</a> first-base coach, and immediately may have largest tattoo ever worn by a 1B coach in <a href="https://twitter.com/search?q=%23MLB&src=hash">#MLB</a>.</p>— Bob Nightengale (@BNightengale) <a href="https://twitter.com/BNightengale/statuses/407971622071451648">December 3, 2013</a></blockquote><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

UPDATE - 4:25

Steve Carney just spoke with Friedman concerning today's moves:

<blockquote class="twitter-tweet" lang="en"><p>Freidman says Hanigan is "tredmendously talented" and shuts down run game, also likes him vs LHP. <a href="https://twitter.com/search?q=%23Rays&src=hash">#Rays</a></p>— Steve Carney (@stevecarney) <a href="https://twitter.com/stevecarney/statuses/407982790324789248">December 3, 2013</a></blockquote><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet" lang="en"><p>Friedman says rolesnot clearly defined for either Hanigan or Bell. <a href="https://twitter.com/search?q=%23Rays&src=hash">#Rays</a></p>— Steve Carney (@stevecarney) <a href="https://twitter.com/stevecarney/statuses/407983131564580864">December 3, 2013</a></blockquote><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet" lang="en"><p>Friedman says "not against the rules" about having three catchers, but see it working out naturally. Says could go to camp with 3. <a href="https://twitter.com/search?q=%23Rays&src=hash">#Rays</a></p>— Steve Carney (@stevecarney) <a href="https://twitter.com/stevecarney/statuses/407983462507765760">December 3, 2013</a></blockquote><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet" lang="en"><p>Freidman says they've been looking at Hanigan since 2011, when Cincy signed Brayan Pena, they reached out again. <a href="https://twitter.com/search?q=%23Rays&src=hash">#Rays</a></p>— Steve Carney (@stevecarney) <a href="https://twitter.com/stevecarney/statuses/407983693223841793">December 3, 2013</a></blockquote><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet" lang="en"><p>Freidman says they've been looking at Hanigan since 2011, when Cincy signed Brayan Pena, they reached out again. <a href="https://twitter.com/search?q=%23Rays&src=hash">#Rays</a></p>— Steve Carney (@stevecarney) <a href="https://twitter.com/stevecarney/statuses/407983693223841793">December 3, 2013</a></blockquote><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>