It seems that until Pedro Martinez signs with a team, whether that team be the Rays or not, the rumors will continue to exist. So far we have confirmed a Rays official watched a recent bullpen session of Pedro Martinez, and there is talks of a second session in the future. The Rays haven't officially commented nor do I expect them to. The Rays do not officially comment on contract negotations. However, Jon Heyman of SI.com says the following
A Rays person said the chances for them to sign Martinez still appear "slight.''--SI.com
"A Rays person" can mean a lot of things so we still do not know the true level of interest. What we do know is if there is a second workout it would be hard to deny said interest. For now we'll just keep an eye on the situation.
For more on the Rays and Pedro Martinez click on one of the related stories in this post.