This isn't exactly news (since we heard about something like this as recently as a couple weeks ago), but Buster Olney reports that the Dodgers are interested in Joel Hanrahan. Given that the Dodgers already have a good closer in Kenley Jansen and another very good reliever in Ronald Belisario, it's unclear why they'd be willing to pay any kind of substantial price for Hanrahan. (UPDATE: The Dodgers have actually already decided on Brandon League to be their closer next year, which makes these rumors even weirder.) But Ned Colletti still runs the team, and he's one of the few remaining GMs who has a long track record of odd decisions, so who knows?
The conventional wisdom on Hanrahan-to-the-Dodgers rumors is that the Pirates would get Chris Capuano back. I wouldn't mind having Chris Capuano, but non-tendering Jeff Karstens and then trading Hanrahan for Capuano really seems sad to me. Hanrahan arguably shouldn't have much value right now due to his performance last year and his likely 2013 salary, but the Pirates need to behave as if he does, because he very well could be a valuable trade piece in July. I like Capuano, but if the Pirates can't do better than a 34-year-old innings eater for Hanrahan, they should be prepared to hold onto him and look for rotation options elsewhere.
UPDATE: John Perrotto reports that the Pirates would, in fact, want another player in addition to Capuano if they were to ship Hanrahan to the Dodgers.