3:07pm: The Mariners may have topped the Yankees' offer to Cano, a source tells Anthony McCarron of the New York Daily News. That same source indicated to McCarron that the Mariners are pursuing Cano "guns-a-blazing," and making the pitch to Cano that he can either be a Yankee legend or be a baseball legend by helping the Mariners win their first World Series.
Seattle has recently emerged as a major player in the Cano sweepstakes according to recent reports, and Kernan notes the club's long history of finishing as the runner-up to coveted big-name free agents. The Mariners "want to do everything in their power to come up a winner this time around," writes Kernan.
Cano's asking price has reportedly come down into the $250-260MM range, but an enormous gap still remains between that figure and the Yankees' reported offer of $160-175MM. Kernan adds that Cano will likely have to choose between millions of extra dollars to venture to a new team like the Mariners or the familiarity of returning to the Yankees in what should be an elite lineup. The Yankees have already signed Brian McCann and last night agreed to a seven-year pact with Jacoby Ellsbury.
Earlier today, Andy McCullough of the Star Ledger heard that the Yankees are still not interested in going beyond $200MM or seven years to retain Cano (Twitter link).