According to Jon Heyman of SI.com, Jason Bay has rejected the Red Sox offer of $60 million over four years. He will now be able to sign a contract with any major league team when the Red Sox exclusive negotiation window ends at midnight tonight.

Considered by many to be the number two free agent this winter behind fellow left fielder Matt Holliday, there are signs that Bay’s stock is dropping among potential suitors. For one, the Cardinals don’t consider Bay a priority due to his poor defense.

Thanks to Sean O. for helping to break the story in the Soriano/Gonzalez comment section.