With AJ Burnett having an offer from the Atlanta Braves and the San Francisco Giants reportedly interested in offering CC Sabathia a 5 year contract, the Yankees yesterday have upped their pursuit of free agent pitcher Derek Lowe.

Yesterday Brian Cashman met with Lowe’s agent, “Look at Me, the Omnipresent” Scott Boras. No comments were made by either men, but Mark Feinsand speculates that the two discussed Lowe, Mark Teixeira and Oliver Perez.

Burnett was reported to have gotten a 4 year contract worth $64 million, with a club option of a 5th year based on number of innings pitched. That would figure out to be an AAV of $16 million. I’m surprised the Yankees didn’t think of this first as they could have offered a club option of a fifth year based on incentives such as innings pitched or how many times he was placed on the injured reserve. Just do something, man!

So now the Yankees find themselves on the outside in all the bidding wars between the three top free agent pitchers. Sabathia still hasn’t shown himself in public, Lowe is getting hotter, and Burnett has a decent offer from a team desperate to compete with the World Champion Philadelphia Phillies and the aging New York Mets.

On the bright side? Cashman is supposed to meet with CC Sabathia over the weekend, perhaps as early as today.