According to Andy Martino of the Daily News, the Mets will first check in with Jose Reyes, “perhaps make a modest offer, then step back while he collects proposals and allows other clubs to set his market value.”

The Mets exclusive window to negotiate with Reyes expires on Thursday, November 3, or five days after the end of the World Series, after which he is free to talk to other teams.

“Jose is not going to be a quick process,” a source told Martino. ‘The fan base would love for it to be that way, but a quick process would mean that he will not be a Met. Let him go do the dance, and see how (other teams) value him. Why should we set the market?”

[line]

So far, people have mentioned to me the Phillies, Giants, Marlins, Nationals, Angels, Brewers and obviously the Mets (as teams who could end up signing Reyes). The Mets want him back and he wants to be back with the Mets. However, at the same time, while Jose loves New York and the team’s fans and he wants to stay with the Mets, he has concerns about the direction of the franchise (and he’ll want to hear from Sandy on what his plans are to get this team back to winning).

[line]

Here are other key updates about Jose over the last day or so:

• According to Newsday’s Ken Davidoff, when talking to people in the baseball industry, “You can get six different predictions from six different folks,” on what happens to Reyes.
• Joel Sherman of the New York Post talked to five Mets execs and believes the team will offer no more than four years with an option.
• Chris Haft of MLB.com believes payroll constraints will prevent the Giants from making a serious offer to Reyes.

To keep track of all rumors involving Reyes, use this section on MetsBlog.com, which is always available in the tabs at the top of this site.