UPDATE, 10:00 PM:
Baseball Prospectus' Will Carroll believes it's a done deal and that the commissioner's office has been informed of the proposed trade. While the teams are still deciding on prospects, the general makeup of the trade is as follows:
Red Sox get: Jason Bay, John Grabow
Marlins get: Manny Ramirez, 1 Boston prospect, cash
Pirates get: Jeremy Hermida, 2 Florida prospects, 1 Boston prospect

Also worth noting that Gammons believes trade talks will continue into tomorrow and that a deal will not be finalized tonight. He notes that a deal may "still be unlikely to happen."

It's also believed that the Pirates are still talking to Tampa about a Jason Bay trade, further complicating matters for Manny and the Red Sox.

More trade fodder: Dan Graziano believes the Sox have inquired about J.J. Putz, whom the Mariners are apparently willing to listen to offers for due to his recent struggles, the Mariners' unsurmountable AL West deficit, and the emergence of current closer Brandon Morrow.

UPDATE, 9:29 PM:
It now looks as though the three-team deal is the only one on the table. In addition to receiving Jason Bay from the Pirates, the Sox would also get the left-handed John Grabow, who's currently closing for the Buccos. Word is that the only thing holding up the deal is the Red Sox' inclusion of a prospect in the deal.

UPDATE, 9:00 PM:
ESPN is still running with the Manny to the Marlins story, while MLB.com has the three-way on the front burner. According to ESPN's Jayson Stark, the Sox would require Jeremy Hermida, Ryan Tucker and Mike Stanton in return for Manny. According to MLB.com's Jenifer Langosch, Manny's heading to Florida, Bay is coming to Boston and Hermida is landing in Pittsburgh. According to the report, the Sox would also have to send a prospect to the Pirates to facilitate a deal. I think it's safe to say that the Sox would much prefer the former.

UPDATE, 6:34 PM:
MLB.com is reporting that it may now be a 3-way deal between the Sox, Marlins and Pirates that would result in Jason Bay joining the Sox. Doesn't sound quite as intriguing as the previously reported 3-for-1 the Sox apparently had going with the Marlins alone, but as is the norm with trade rumors, it may never come to fruition.

ORIGINAL, 6:03 PM:
As the pre-deadline moves pile up, news coming from ESPN's Peter Gammons and Buster Olney has the Marlins actively pursuing Manny Ramirez.

First off, in order for Manny to have been able to be dealt after 3 PM today (and prior to tomorrow's 4 PM deadline), he had to officially waive his no-trade clause, which has obviously happened as he is still on the block. As reported yesterday, the Marlins seemed to be the dark horse candidate to land Manny's services, but now they're clearly the prohibitive favorite. (A lot can happen in a day, huh?) Olney calls the conversations "serious" and explains that the deal is centered around either Jeremy Hermida or Josh Willingham and would include 2 other players (haven't heard exactly who they'd be, but Peabody native Jeff Allison's name has been linked to these trade talks in recent days). The talks have progressed so far, in fact, that Baseball Prospectus' John Perotto (relying on several solid sources) believes that the Sox are on the verge of completing the transaction.

Manny's in left and batting fourth tonight (take that for what you will), so it appears that a deal isn't imminent (at least as far as the next couple of hours are concerned) as Manny likely would have been scratched from tonight's lineup.

Also on the Sox' radar is Braves reliever Will Ohman. They're one of five or more teams currently pursuing the 30-year old lefty. In 55 games this season, Ohman's got a 2.84 ERA, 1.13 WHIP, 13 HD and 41 K.