According to Jon Heyman of CBSSports.com, the Padres are now planning to try to sign Carlos Quentin and Huston Street to multi-year deals.
Quentin and Street are popular trade targets this month, but both players have indicated a desire to stay in San Diego. Quentin is a San Diego native, so the match makes sense. There is some uncertainty with the Padres' ownership at the moment, but Heyman was told that current owner John Moores and presumptive new owner Ron Fowler have given approval to sign Quentin and Street to new multi-year pacts.
Of course, it's possible the Padres are putting this out there as a way to raise the asking price from prospective suitors and it's possible they could shop one or both players aggressively if they can't make progress in contract talks before July 31.