Ken Rosenthal of FOXSports.com reports that "Pedro Martinez will take his physical with the Phillies on Tuesday and could sign with the team as soon as Wednesday."
Rosenthal notes that Martinez and the Phillies are hoping that he'll be ready to join the rotation on August 1 after building up his arm strength in the minors for the next few weeks. He's expected to receive even less than a prorated portion of the $5 million contract that he's been seeking all season, in which case the Phillies would be paying him under $2 million to make around a dozen starts.
Once ready Martinez will bump Rodrigo Lopez from the rotation as the Phillies go with the 37-year-old future Hall of Famer rather than inexperienced options behind their front four of Cole Hamels, Joe Blanton, Jamie Moyer, and J.A. Happ. Martinez is still capable of being a solid fourth or fifth starter, but he had a 5.61 ERA in 20 starts with the Mets last season and as an extreme fly-ball pitcher Citizens Bank Park could be trouble.