On August 26, 2003 — The Padres trade starting pitcher Oliver Perez, along with prospect Jason Bay, to the Pirates for outfielder Brian Giles. The Canadian-born Bay will be selected as the National League’s Rookie of the Year next season.

The 32-year-old Giles had played five seasons with the Pirates, hitting .308 with 165 homers, 501 runs scored, 519 walks and 506 RBIs in 715 games. At the time of the deal, he was hitting .299 with 16 homers and a .951 OPS. Perez and Bay each had minimal Major League experience at the time.

Bay, at age 24, had played just three games for the Padres. He was in Triple-A, batting .303 with 20 homers and 23 stolen bases in 91 games. Perez had an 8-12, 4.51 record in two years with the Padres and he had just turned 22 years old. Stewart didn’t come over until October. He was a 23-year-old lefty, who spent the 2003 season in Double-A. He never made the majors.

Perez paid off huge his first full season (12 wins, 2.98 ERA, 239 K’s), then went downhill quickly, having three poor seasons before the Pirates traded him to the New York Mets in the Xavier Nady deal. Bay ended up being the key to the deal, hitting .281 with 139 homers and 452 RBIs over his six seasons (four full years) in Pittsburgh. Giles played seven years in San Diego and his numbers fell way off from his Pirates days, especially the power numbers playing in his new spacious ballpark. He hit .279 with 83 homers in 833 games for the Padres.
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This Date in Pittsburgh Pirates History: August 26th, The Giles/Bay Trade