1:22pm: The Phillies have offers out to Reyes and Sherrill, tweets Jim Salisbury of CSNPhilly, but it looks like Sherrill might be headed elsewhere. The Phils are "very close" with Reyes, tweets Salisbury.
12:46pm: The Phillies are very close to a one-year deal with a club option with Reyes, tweets Rojas.
WEDNESDAY, 11:45am: The Phillies are not close to signing Reyes and have yet to make a formal offer, reports Paul Hagen of the Philadelphia Daily News. Word is they're not close on any reliever right now.
TUESDAY, 4:27pm: Joe Strauss of the St. Louis Post-Dispatch hears that Reyes will sign with the Phillies (Twitter link).
2:34pm: Reyes could sign within the next 48 hours, tweets Jon Paul Morosi of FOX Sports, probably deciding between the Phillies and Marlins. The Mariners and Athletics are also in on Reyes, tweets John Hickey of AOL Fanhouse.