While Bill Madden explores why New York may be losing its appeal for free agents around the league, the Yankees still find themselves in the race to land Brian Giles:

Giles' agent, Joe Bick, said yesterday he had told the Padres that Giles would be "moving on" after San Diego rejected a recent contract counter-proposal. Asked if the Padres no longer were an avenue for Giles, Bick said, "Correct."

...It's unclear what this means for the Yankees. Several team executives felt that Giles hadn't shown enough interest in New York, though they had let it be known Giles could have a contract with the parameters of three years, $30 million-$33 million. The Padres reportedly offered Giles $25.5 million before Bick's counter-offer.

Bick said he was convinced the Yankees still were interested. "I have no reason to believe otherwise," Bick said. "Brian (Cashman, the Yanks' GM) has been forthright about exploring other possibilities and I would expect him to do that."
(N.Y. Daily News)

Meanwhile, according to News reporter Anthony McCarron:

The Yankees have been getting calls from opposing teams wanting to trade for Carl Pavano, who endured a forgettable 2005 season marred by ineffectiveness and injury. But even in a winter in which they perhaps have been hamstrung by a lack of attractive trading chips and a reluctance to deal young players such as Robinson Cano and Chien-Ming Wang, the Yankees say they are not shopping Pavano.

"We think he'll help stabilize our staff instead of taking away from it," GM Brian Cashman said. "Everybody's available for the right price and if there were something we thought made sense, we'd listen. But we look at Carl as a guy who will be a big contributor. That's why people are asking about him.

Lastly, Ben Shipgel takes a look at the market for relief pitchers, while Ken Rosenthal blasts Toronto for the enormous contract they just gave to B.J. Ryan:

Several major-league executives were in disbelief when they heard the reported terms. Their shock will turn to anger if the deal is completed and they are forced to bid for free agents in a grossly inflated market. Major League Baseball officials would be equally outraged, knowing their pleas for fiscal responsibility are again being ignored.

"It's so shocking, it's almost laughable," one executive said of the Ryan deal.

...Three years, $27 million would be a more sensible price for Ryan, and frankly, even that sounds high — all but the best relievers fluctuate in performance from year-to-year. Then again, Ryan wouldn't be the last free agent who gets ridiculously overpaid this off-season. The industry is awash in revenue, and the owners are following their historical pattern, spending as mindlessly as Paris Hilton and making players wealthy enough to date her.

It's a good season to be a relief pitcher. Sounds like everyone is going to get paaaaaaid.