9:46am: Jason Bay is close to a decision on which team he'll sign with, according to Tim Brown of Yahoo! Sports (via Twitter). The Indians and Mariners are among the teams still in the mix for the former Met, says Brown.
The Indians may be in the lead for Bay, says Joel Sherman of the New York Post, though he notes that the M's are still a factor and the Cubs are "on the periphery" (Twitter link). Bay is going to get guaranteed money rather than a make-good deal, according to Sherman, since teams are willing to take a little risk to see if he can bounce back in a new environment (Twitter link).