Though one source cautioned that the Yankees "don't have a deal yet," the possibility of it happening was the main topic of conversation as committees met on Wednesday in preparation for Thursday morning's joint session of the 30 owners and/or their representatives.
Update [2007-11-15 1:24:25 by Adam J. Morris]: -- Jon Heyman says a deal is close:
A 10-year megadeal for about $280 million -- yet another record contract for A-Rod -- is expected to be completed in the next day or two.
There is a great deal of optimism that an accord can be struck soon, as the sides were down to discussing incentive monies and contract language, an indication they possibly were in the final stages of negotiation. But while an agreement seemed extremely likely, both sides cautioned late Wednesday that it had yet to be completed.
The new contract is likely to include an unprecedented incentive package that could put the total package at well over $300 million.