Buster Olney says the Red Sox have changed their offer for Johan Santana, putting Jacoby Ellsbury into the pot, but pulling Jon Lester out.
According to Olney, Boston will not include both players in the deal. (Of course, they might include them both later.) Olney also reports that the Yankees have told the Twins that "they are going to pull their offer off the table soon -- perhaps by Tuesday at the latest -- unless they get an answer".
So perhaps Theo is stalling here -- moving some pieces around, keeping the Twins interested -- while the MFY's clock ticks down. No idea if the deadline is real, but perhaps Epstein can get New York to toss in one of its "untouchables". And if the Yankees truly walk away -- which seems unlikely (and who can believe anything they say this off-season?) -- Theo can rachet down his offer considerably.
The nice thing here is that Theo will not panic. He knows (and has known for a long time) exactly what he'll offer for Santana and he will not go over that. He knows what his top final final offer is.
Sources expect a decision within the next 72 hours.
Also: the Red Sox offered arbitration to Eric Gagne, but not to Bobby Kielty, Eric Hinske, Doug Mirabelli, Royce Clayton and Matt Clement. The Sox can still negotiate with those players, though.