From SI's John Heyman:

The Angels reportedly are about to make an offer to superstar free agent pitcher CC Sabathia that will approach the Yankees' $140-million bid of a couple week ago, and if the Angels can steal Sabathia, that may change the entire free-agent landscape.

The Los Angeles Times reported today that the Angels are focusing on Sabathia right now while remaining interested in free agent first baseman Mark Teixeira, who's been called their top target all along. The report suggested the Angels may be turning to Sabathia in part because they have come to believe they will have trouble making a quick deal for Teixeira.

That's why you don't make your best offer on the first day of free agency. As many people (myself included) have been saying, if it comes down to money, he's going to end up with the Yankees.

The Angels are probably thinking that if the money is close then he'd choose to play closer to his hometown, and they'd probably be right in their thinking. I think in the end, though, the Angels would just be immersing themselves into an insane bidding war if they decided to make Sabathia the focus of their offseason plans. I'd imagine the Yanks would just slap an extra $10 million or so to any bid the Angels or any other team made, and I would think that the team has already expected to do so. $140 million is obviously a lot of money, but I doubt very highly that the Steinbrenners or Cashman really believe that would be the actual cost of a final deal.

On the flip side, I guess this speculation would just lead to further speculation that this would almost guarantee the Yankees at least one of Sabathia/Teixeira. The Angels are obviously not going to sign both, and if they do somehow end up snagging CC away from the Yankees, one would think that $140 million+ is going to have to go somewhere.