Latest buzz from winter meetings

The Mets have made an offer of $65 million to Jason Bay, who's also garnering interest from the Angels, Mariners and Red Sox. AP

SI.com's Jon Heyman reports from baseball's winter meetings in Indianapolis, which wrapped up Thursday ...

THURSDAY, DECEMBER 10

Mets offer Bay $65 million

The Mets have offered free agent outfielder Jason Bay about $65 million over four years.

Mets people like the fact that they see Bay as a pull hitter who can hit home runs in Citi Field and believe he can cover enough ground in the outfield there, as well.

The Red Sox, Mariners and Angels are among the other teams that are interested in Bay.

The Mets are in the market for a run-producing outfielder. They fear that another vaunted slugger, Matt Holliday, would require a protracted contract negotiation and would cost more than Bay.

The Mets are also still negotiating with free agent catcher Bengie Molina.

Pineiro drawing plenty of interest

The Mets, Nationals, Cubs and Dodgers are among teams interested in free agent pitcher Joel Pineiro.

The Nationals are trying to make some bold moves, and can't be counted out here.

Pineiro seeks $40 million over four years after resurrecting his career in St. Louis. Following Randy Wolf's three-year deal for $29.75 million, it's become clear viable starters are going to do well in this market.

What isn't clear is whether the Dodgers can dive into the market, considering their ownership situation.

Active Mariners targeting Lackey

The Mariners already have stolen Chone Figgins from the divisional-rival Angels and now appear focused on ace pitcher John Lackey as a free-agent target.

Lackey, the Angels' ace the past few years, is believed to be seeking a contract of about $100 million. He feels he should slot between A.J. Burnett's $82.5 million contract and Johan Santana's $137.5 million deal.

Seattle has money to spend with several big players coming off the books. The Red Sox, Yankees, Mets, Rangers, Brewers and incumbent Angels all have shown interest in Lackey, as well. But a couple of those teams have already signed a pitcher and a couple more seem bit more focused on offense right now.

The Angels have been pushing for trade target Roy Halladay, and are believed to have offered pitcher Joe Saunders, shortstop Erick Aybar and minor league outfielder Peter Bourjos. However, it isn't known whether Halladay would accept a trade to the Angels, so they could jump back in on Lackey.

Red Sox could replace Lowell with Beltre

The Red Sox appear to be trying to land Adrian Beltre as a potential third-base replacement for Mike Lowell (as detailed below, Boston may trade Lowell to the Rangers).

The Giants and Mariners are among the other teams interested in Beltre.

Red Sox and Rangers working on Lowell deal

The Red Sox and Rangers are hammering out a trade that would ship four-time All-Star 3B Mike Lowell to Texas.

The two teams appear to have an agreement on the particulars of the deal -- Boston would send Lowell plus $9 million to the Rangers in exchange for catching prospect Max Ramirez. However, it might take a few days because Texas wants to take a very close look at Lowell's medical situation. Lowell had surgery last winter to repair a torn labrum in his right hip and remove a bone spur on a thigh bone.

Commissioner Bud Selig would need to approve the $9 million transfer (which would cover most of Lowell's $12 million salary for 2010), but that appears likely.

Lowell would play 1B and DH for Texas.