Update 12/24 10:21am: Jon Heyman of SI Tweets:  i think #redsox will consider bay but only for less – maybe much less – than #mets best offer (65M for 4 w/vesting option)

Update 20:06 PST: WEEI.com reports that the Boston Red Sox have had internal discussions about extending their budget to make another offer to Jason Bay.  The proposal will be around the four-year, $60 million that the Red Sox originally offered Bay.

Update 15:49 PST: Ken Davidoff of Newsday Tweets:  #Mets GM Omar Minaya: “Jason Bay isn’t the only free agent (outfielder) we’re looking at. …At some point we have to consider other plans.”  He Tweets again:  Asked if he thinks Bay has a sincere interest in playing for the #Mets, Minaya said, “Yes.”

08:44am PST: According to Ken Rosenthal and Jon Paul Morosi of Fox Sports, four teams are believed to be in the bidding for free agent outfielder Jason Bay:  the Mets, Mariners, Giants and Angels.

• While the Red Sox and the Yankees are not actively pursuing the free agent, he could fall into their lap.
• One source believes that the Mariners are trying to clear payroll to make a late push for Bay.  One rival exec believes Seattle would sign Bay for no more than one or two years at which time their prospects will take over.  Bay is seeking a five-year deal.
• One person familiar with the Giant’s organization said that it’s “not impossible” to envision the team signing Bay or Matt Holliday.
• You can see Matt Holliday’s statistics here.
• You can see Jason Bay’s statistics here.