Per MLB Trade Rumors. The trade isn't yet official but there doesn't appear to be any reason why it wouldn't go through. It's not entirely clear who every player going to Miami will be. But here's a current account of what the lay of the land is looking like which gives you a basic sense of the trade:

Toronto receives: Reyes, Johnson, Buehrle, John Buck, and Emilio Bonifacio

Miami receives: Anthony Gose or Jake Marisnick, Yunel Escobar, Adeiny Hechavarria, Henderson Alvarez, Justin Nicolino, as well as a catcher in J.P. Arencibia, Bobby Wilson or Jeff Mathis

As is noted the Marlins have axed about $80 million from their opening day 2012 payroll. That will no doubt be the headline. But from our perspective I'm curious as to what folks think about the trade. Would it have made sense for the Pirates? What would Pittsburgh have needed to give up to provide an equivalent return, etc?

UPDATE: The Blue Jays have reached agreement on a deal with the Marlins that will send right-hander Josh Johnson, left-hander Mark Buehrle, shortstop Jose Reyes, outfielder Emilio Bonifacio, and catcher John Buck to Toronto for shortstop Yunel Escobar, infielder Adeiny Hechavarria, right-hander Henderson Alvarez, left-hander Justin Nicolino, outfielder Jake Marisnick, catcher Jeff Mathis, and right-hander Anthony DeSclafani. The deal, which will also call for the Marlins to send $4MM to the Blue Jays, is awaiting MLB approval.

UPDATE 2: The Jays continue to operate aggressively signing Melky Cabrera to a 2 year $16 millon contract. This was a move I'd contemplated with regard to the Pirates offseason. Cabrera struck me as a risky (for all the obvious reasons) but potentially affordable OF option with some ceiling (depending on much of his 2012 was the result of luck and drugs).