** Rays - The holes are few, and while it's not their style to fill them with big-money signings, the Rays are looking for a closer or a good arm for the back of their bullpen, as well as a right-handed hitting outfielder. For the latter, free agents Raul Ibanez and Juan Rivera could draw their attention. On the trade market, Jeremy Hermida (Marlins) or Jermaine Dye (White Sox) could be inviting. With David Price expected to join the rotation next year, the Rays are willing to listen to offers for their Nos. 4 and 5 starters, Andy Sonnanstine and Edwin Jackson.

** Yankees - Anything can, and probably will, happen with the Bronx Bombers. They want CC Sabathia more than anyone else, with A.J. Burnett or Derek Lowe, maybe both, as a backup plan. If not Sabathia, it could spark major drama from Steinbrenner headquarters, with Mark Teixeira or Manny Ramirez being the remedy. Declining arbitration offers to Bobby Abreu and Andy Pettitte signal some fiscal restraint, but it is most likely fleeting. Pettitte looks slightly more than 50-50 to re-up.

** BLUE JAYS - If Toronto cannot re-sign Burnett, its one claim to fame - one of the best starting rotations in the game - takes a major hit. The team would overspend, a little, for Burnett, but from the sounds of it, the economic downturn is hitting the franchise hard, meaning if they cannot keep Burnett, they may keep the savings rather than reinvest them in somebody else.

** Orioles - Maybe this will be the year the Orioles come up with a coherent and effective plan to make up lost ground in the AL East. Maybe. They can be expected to go hard after Teixeira, who would be a perfect fit, plus they have some interest in Burnett for a rotation spot as well. But wanting and signing are two different things.

** Twins - Looking to bolster their bullpen and find more infield help, the Twins are not going to be making any kind of a splash. They will not sign a Type-A free agent - they do not want to give up draft picks - so they will settle on Type B's. Third baseman Casey Blake (Type B) has been mentioned frequently as a Twins kind of guy. Consensus on who they will find for the bullpen has yet to emerge. The Twins are said to be dangling outfielder Delmon Young.

** White Sox - General manager Kenny Williams has already traded Nick Swisher and Javier Vazquez and he may not be done with a possibly drastic overhaul of the White Sox into a younger, speedier team. Dye and even closer Bobby Jenks could find new homes at the meetings or later. Another name rumored to interest Williams is Florida's Jorge Cantu.

** INDIANS - Their top goal is to find a closer. They are probably out of the Francisco Rodriguez and Brian Fuentes bidding war but will probably take a hard look at free agents Trevor Hoffman, Kerry Wood and Jason Isringhausen. Trade-wise, Matt Capps (Pirates) and Huston Street (Rockies) could interest them. They need another infielder as well.

** Royals - The Royals need a lot of bullpen help now that they have traded relievers for Mike Jacobs and Coco Crisp, so expect them to be in on some free agents (Kyle Farnsworth is one) or to attemp a trade. Outfielder Mark Teahen has been at the forefront of a lot of trade rumors, but GM Dayton Moore sounds convincing when he says he is not going anywhere.

** TIGERS - They've been awfully quiet so far and it should shock nobody if they wind up pouncing on the premier free agent pitching talent: Sabathia, Burnett or Lowe. They need a lot of pitching, they need a closer, they need a shortstop (the Pirates' Jack Wilson a leading possibility), they need a catcher (Texas' Gerald Laird possibly), they need overall better defense. Problem is they strip-mined their farm system last season with the trade for Miguel Cabrera and Dontrelle Willis.

** Angels - They are neck-and-neck with the Yankees in the pursuit of the two top free agents available, Sabathia and Teixeira. General manager Tony Reagins has said Teixeira is their top target, but the clock is ticking on him and they could switch quickly to Sabathia, who is said to favor pitching in California. The club will need a closer assuming K-Rod does not accept arbitration.

** Rangers - Strange how this franchise became the Fort Knox of catching prospects, but the presence of Jarrod Saltamacchia, Taylor Teagarden and Laird will make them everyone's favorite trading partner. Operators continue to stand by for the Rangers' annual pledge drive, and they will go the trade route for it. Besides catching, Hank Blalock, Marlon Byrd and Frank Catalanotto could be had.

** A's - The A's trade for Matt Holliday early this offseason is one of the more fascinating transactions. Free agent shortstop Rafael Furcal is a strong possibility and free agent DH and former A's first baseman Jason Giambi could return as well.

** Mariners - New manager Don Wakamatsu is in for a rough couple of years with the AL's worst team (61 wins) last season. The Mariners might bid on free agent Ken Griffey Jr., but he's not a game-changer. Free agents Adam Dunn and Pat Burrell are possibilities but signing them would negate the draft picks they'd gain if, as assumed, free agent outfielder Raul Ibanez leaves. The M's should be concentrating on restocking their minor league system and going young, but a move for Dunn or Burrell would be treading water. Keep an eye on what they do with Adrian Beltre; losers in the Teixeira and Ramirez bidding might want to go for the third baseman.

Around the horn

There is an interesting story developing in our favorite city to the south, New York. E-mails from city hall and the Yankees and Mets reveal that as the city was trying to secure its own luxury suite in each new ballpark, it also was granting more parking spaces to the teams. As for the Yankees, they were also open to discussing additional revenues from nearby billboards. Because each team is financing its costly new stadium with nontaxable bonds, some state officials are critical of the private negotiations between the city and the teams. . . .

A more sordid story is the trial of slugger Barry Bonds, scheduled for March 2. Federal prosecutors have dropped seven counts of lying to a grand jury in the last two weeks, but he still faces 10 other counts of lying to a grand jury as well as a charge of obstruction of justice.

- msilverman@bostonherald.com

GRAPHIC: Lowdown on the slowdown

With teams due to the recession, the free-agent market has slowed this offseason. But, according to figures released Thursday by the Major League Baseball Players' Association, Baseball's economic slowdown got a head-start last season. The 3.6 percent salary increase was MLB's smallest annual hike since 2004, when the average declined 2.5 percent from the previous season.

Here's a look at the 2008 salary breakdown by position and how they it stands on the escalation scale since the MLBPA began tracking it in 1967:

(Graphic includes data on salary minimums and maximums from 1967-2008 as well as a listing of 2008 average salaries by position. For complete graphic, see Boston Herald microfilm or .pdf.)