5:22pm: Heyman says the Yankees are negotiating with Boras about a four-year deal for more than $65MM.
1:19pm: SI.com’s Jon Heyman says the Phillies and Yankees lead the charge for Lowe, who wants $80MM over five years. A team official for one club told Heyman he was "shocked" with the escalating bidding.
8:34am: According to Nick Cafardo of the Boston Globe, a Phillies official denied the presence of a three-year offer for Derek Lowe. Does this mean they have two or four years on the table? Cafardo talked to another source who said Lowe likes the idea of pitching for Philly.