According to MLB.com, the Seattle Mariners sent Miguel Olivo to the San Diego Padres in exchange for C Miguel Ojeda and RRP Natanael Mateo.
The M's decided that it was time to dump Miguel Olivo instead of sending him to the minors, which is probably for the best. Olivo never fulfilled the expectations the club placed on him after trading for him last season and decided to cut line and go in a different direction.
In Miguel Ojeda, the Mariners get a 30 year old catcher who isn't anything to get excited about but should be better than Olivo. He can hit a little bit and is average, at best, defensively. Ojeda will join the big club tomorrow and will pair up with Wiki until Torrealba arrives Tuesday. It appears the club will carry three catchers until Snelling can return.
Natanael Mateo is an interesting prospect. He possesses a fastball that touches the upper 90's and a decent slider. He has posted some pretty good numbers in the minors thus far (98/27 K/BB ratio, 2.91 ERA) and could develop into an effective middle reliever in the majors. He will join the San Antonio Missions, but could see some time in Tacoma after some of the Rainier arms join the big club. Nothing to get overly excited about, but someone to watch nonetheless.
Essentially, the M's traded a catcher who couldn't hit and couldn't field for a catcher who can hit a little bit and an interesting AA relief pitcher. Another solid deal for Bavasi.