First, this will never happen. I know this. But I was trying to imagine a scenario where another team would take Ken Griffey Jr. off our hands, and here's what I came up with:
Chicago Cubs get:
2 or 3 young pitchers (Aardsma, Guzman, Marshall, Marmol, Mateo, Ryu, etc)
Why on earth would the Reds do this?
Because they're not going anywhere as long as Ken Griffey Jr. and his contract are around. He's no longer a reliable offensive centerpiece. He apparently refuses to entertain the notion that he may not be the best defensive CF available. You include Dunn because there's no way the deal happens if you don't. Unloading them both--and replacing them both with cheap young players with fairly high ceilings--frees up about a third of the payroll and expedites the inevitable rebuilding process. Instead of improving marginally while you wait for two years to get rid of Junior, you rebuild in one fell swoop. You include Freel because he's way more valuable to the Cubs as a leadoff hitter and backup to Jr. than he is to the Reds. Quite frankly, even if it was for just Murton and Pie, you could make a case that those two make a lot more sense financially for the Reds than Dunn and Griffey.
And why would the Cubs do it?
It definitely would not be their first choice. Their first choice is to sign Soriano to lead off and play CF. Or trade for A-Rod or Tejada. To upgrade offensively up the middle to make up for their weak OF corners. If they fail to do this, they'll be desperate, and a trade like this one could have some appeal.
Why would Junior waive his 10/5 rights?
First, the trade itself would let him know the Reds don't want him in CF. The Cubs would have no place BUT CF to play him. Playing under Lou Piniella, his mgr during his glory years in Seattle, may appeal to him. Geography shouldn't be a problem either.
I know it's a ridiculous proposal. I'd be very interested in hearing any other scenarios where another team might be willing to take Junior. I like him fine but for the Reds he's too expensive for what he provides.