9:25pm: An AL GM told ESPN.com's Buster Olney that he believes the Twins could acquire Lee with a package built around prospect Wilson Ramos. Rival GMs believe the Rangers may be better off holding onto their prospects than acquiring Lee.
4:15pm: The Mariners have not started making counter offers for Lee, according to ESPN.com's Buster Olney. Rival executives remind Olney that the Mariners may want to deal soon, since an injury would deflate Lee's trade value (all Twitter links)
3:37pm: The Mets, Yankees, Rangers and Phillies appeared to be the only teams scouting Lee last night, according to Ken Rosenthal of FOX Sports. The Twins and Dodgers were among the interested teams that did not attend, but it is early and Lee is a known commodity, so the lack of scouts hardly means there's a lack of interest.
10:11am: The Mariners will require a blue-chip prospect in a Cliff Lee trade, reports Joel Sherman of the New York Post, even though the last two Lee trades may not have included one. Sherman suggests the Mets want Lee badly, while the Yankees would just like the Ms to "keep them posted."
Sherman explains that the Mariners like, but don't love, Mets pitching prospect Jenrry Mejia. He feels that a Mets trade would have to be built around Mejia or Wilmer Flores. The Mets are willing to trade Flores in a Lee deal, reports Matthew Cerrone of MetsBlog. They're reluctant to part with other top prospects. The Mets would like to trade for a starting pitcher as soon as possible, but Cerrone says the Mariners prefer to wait until after the All-Star break to trade Lee.
From the Yankees side, Sherman recommends they make Jesus Montero available. They've done so before when Lee and Roy Halladay were on the trade market. Sherman also notes that the Mariners like Yankees Double A second baseman David Adams. Baseball America ranked Adams 22nd among Yankees prospects heading into the season, and he sports a .309/.393/.507 line at Trenton. Should the Yanks prefer to pursue Lee as a free agent, Bill Madden of the New York Daily News learned that old friend C.C. Sabathia would be happy to help recruit.
In a longer blog post, Sherman elaborates on what Lee would mean for the Mets, what the Mariners will require, and how prospects are overvalued these days.