Sources told ESPNDeportesLosAngeles.com earlier Sunday that the Marlins offered Reyes a deal worth a minumum of $111 million.
According to the sources, Miami would pay Reyes $106 million for six years, with an option for a seventh year for $22 million. If they decide not to use the option, they would pay Reyes $5 million.
Earlier in the offseason, Miami offered Reyes a six-year, $90 million deal, which he rejected.
Reyes, 28, is coming off the best year in his career. He hit .337 for the New York Mets to win his first batting title. In nine years, all with the Mets, he has batted .292 with 370 steals and 740 runs scored.
Signing Reyes, the best shortstop available during the winter, was established as the main objective of the Marlins in the offseason, as they prepare to open a luxurious new stadium near downtown Miami in April.
On Thursday, free agent closer Heath Bell agreed to a three-year contract, pending a physical, sources told ESPN.com.
Neither the signing of Reyes nor the reported addition of Bell mean that the Marlins have completed their Christmas shopping, because they are also interested in Albert Pujols.
A source also told ESPNDeportesLosAngeles.com that Miami has emerged as the most likely destination for Pujols if the slugger decides to leave the St. Louis Cardinals, the only team he has played for in his 11-year career.
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