5:56pm: The Mets confirmed that they made Molina and Jason Bay offers, according to MLB.com's Anthony DiComo.
THURSDAY, 6:34am: Adam Rubin of The NY Daily News says the Mets do in fact plan to make Molina an offer before leaving Indianapolis later today, however they don't expect to reach an agreement by then.
WEDNESDAY, 7:12pm: The Mets haven't made Molina an offer yet, but expect to propose a contract by tomorrow afternoon, according to MLB.com's Anthony DiComo.
11:17am: Joel Sherman of the New York Post suggests the Mets will make their initial offer to Molina this afternoon.
9:38am: Newsday's David Lennon has heard Bengie Molina is the Mets' first choice at catcher, and "if he accepts a two-year deal, in the $12-million range, he figures to be a Met very shortly." Still, Lennon's "Mets closing on Molina" headline seems strong. Lennon says that if Molina insists on three years, the Mets could sign Yorvit Torrealba for one – even though Torrealba could get two years elsewhere. The Rockies, Giants, and Royals are also in on Torrealba, reports Troy E. Renck of the Denver Post. The Rockies are willing to give Miguel Olivo two years if they can't get Torrealba.
Molina was left out in the cold once before, in the 2005-06 offseason. He cashed in with the Giants the following winter, and should probably jump on this Mets offer.