The San Diego Union-Tribune's story on the Ryan Ludwick deal notes that the Pirates have provided a list of players for the Padres to pick from to determine who will be the player to be named.
The Pirates will give the Padres a list of potential players with a Jan. 1 selection deadline.
This is what I thought. I was driving to Pittsburgh after the deadline last night, and I heard Tim on David Todd's Extra Innings show. One of the things they addressed was the possibility that the PTBNL might be a 2010 draftee who had signed too late to be eligible to be traded yet. Anything's possible, and there's no reason the PTBNL can't be one of those players, but the fact that the deal was for a PTBNL or cash made that scenario unlikely. Until we hear otherwise, I think we should probably assume that the two teams couldn't settle on a player, given that the deal took place right before the deadline. The Padres probably just want more time to scout some players. Also, I think we can assume, until we hear otherwise, that the PTBNL isn't anyone significant, because they usually aren't, particularly when a deal is listed as a PTBNL or cash.