Update [2007-11-15 7:40:46 by Eric Hz]: Various reports have the Yankees and Alex Rodriguez close to a deal for 10 years and $275MM dollars.
Update [2007-11-14 13:4:13 by Eric Hz]: Tyler Kepner of the NYT reports:
The Yankees contacted Mike Lowell's people according to the Daily News. This is interesting as the Yankees would be able to strike a blow against the now-favored Boston Red Sox. This would force the Red Sox into the trade market which would weaken the organization's prospect pipeline or into the free agent market where the team could not get the same caliber of player for the same cost.

This is a scourge
Joel Sherman, George King and Mark Hale co-write an article that gets more specific. They pen, "in recent days the Yankees began to hear some buzz that Rodriguez was interested in engaging the organization in conversations." The Post contacted Steinbrenner and this what he said and what they surmise.
It was the first, albeit subtle, sign of a thaw between the two sides. Was it more than that? No Yankees official besides Steinbrenner commented on the subject. Boras did not immediately return phone calls. "
Whether the Yankees are trying to drive-up the price their competitors in Los Angeles or Boston would have to pay ARod or trying to drive down the price the Yankees would have to pay to Lowell or to the MArlins for Miguel Cabrera is not known. But this is getting interesting.