2:45pm: Moreno estimates that he has $12MM to spend on improving the club, according to FOX Sports. That could be enough to sign Bay if the left fielder agrees to sign a back-loaded deal.
1:16pm: Angels owner Arte Moreno told Bill Shaikin of the LA Times that Matt Holliday is not an option for the Angels.
"He is not going to be an Angel," Moreno said. "We are not looking at Holliday at all."
Jason Bay, on the other hand, is a player "you have to look at," Moreno said. The Angels still have interest in bringing back John Lackey, Chone Figgins and Vladimir Guerrero, but Moreno told the LA Times that the Angels won't be able to bring both Figgins and Lackey back.
As for Guerrero, Moreno hinted that he won't be back without saying so explicitly.