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Jon Heyman of CBSSports.com is reporting that the deal also involves the Seattle Mariners with pitcher Drew Smyly going from the Tigers to the Rays. The Rays will also receive middle infielder Nick Franklin from the Mariners with outfielder Austin Jackson going from the Tigers to Seattle.
The move is huge because the Rays have played their way back into the playoff race and are just 5.5 games behind in the Wild Card race.
Interestingly, it is not clear if any prospects are involved in the deal, but the Rays did get two big leaguers in the trade.