CHICAGO (AP) " Jake Peavy is staying with the San Diego Padres.
The ace pitcher turned down a trade to the Chicago White Sox, choosing Thursday to remain with his longtime team.
The Padres and White Sox had reached an agreement, but needed the 2007 Cy Young Award winner to waive his no-trade clause.
"As of right now, this is the best place for us to be. We made that decision for the time being," Peavy said before Thursday night's game against San Francisco.
"It's been a crazy 24 hours," he said. "I don't want to be any kind of distraction to the team. We're playing as well as we possibly can, winning five in a row and I've got a big game tomorrow night vs. the Chicago Cubs."
Peavy said he would answer additional questions about his decision after Friday night's start.
Peavy, who turns 28 later this month, is 3-5 with a 3.82 ERA. He made his major league debut with San Diego in 2002.
Several reports said the White Sox would've sent top pitching prospect Aaron Poreda and young left-hander Clayton Richard to San Diego as part of the package for Peavy.
White Sox general manager Ken Williams declined comment earlier in the day and did not immediately respond to a message after Peavy's decision.
Earlier in the day, while they were waiting for Peavy's announcement, the White Sox lost 20-1 to the Minnesota Twins.
"I hope he don't watch the scoreboard because he might say no," White Sox manager Ozzie Guillen said.
San Diego talked to the Cubs and Atlanta Braves during the offseason about a deal for Peavy.
On Thursday afternoon, Peavy's agent, Barry Axelrod, said, "my suspicion is he still has a strong preference to stay in the National League."
"There was a question posed to us as to whether Jake's position on going to the American League was still cast in stone or whether he'd consent to going to an AL team, specifically, the White Sox," Axelrod said.
The Padres, who lost 99 games last season and aren't expected to contend this year, have been cutting payroll. Peavy is to earn $11 million this season, $15 million in 2010, $16 million in 2011 and $17 million in 2012. The Padres have a $22 million option for 2013 with a $4 million buyout.
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AP Sports Writer Bernie Wilson in San Diego contributed to this report.