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Update:Rangers Acquire Cliff Lee For Justin Smoak + 3; Yankees Mad

Update: The deal has been confirmed Cliff Lee, Mark Lowe and $ To Texas for Justin Smoak, RHP Blake Beavan, OF Matthew Lawson, reliever Cory Lueke. Would be similar to giving up something like: Desmond Jennings, Wade Davis + two organization prospects. Ken Rosenthal reports the Yankees are "livid."

Straight from MLB Trade Rumors:

3:17pm: The Rangers are one of a few teams jumping back into the trade talks, according to Jon Heyman of (via Twitter).

3:07pm: The Rangers are working 'really hard' to acquire Lee, according to Joel Sherman of the New York Post (via Twitter).

2:57pm: The Mariners didn't accept the Yankees' offer of Montero, Adams and a third prospect, so the Yankees may walk away from the discussions, according to Jon Heyman of (via Twitter).

2:44pm: The Mariners are backing off, according to Sherman. The Yankees believe they are no longer in the Lee sweepstakes, as the M's have gone in another direction (all Twitter links). Sherman says 'the Yankees aren't getting Cliff Lee,' since another team has entered discussions aggressively.

Anything to keep the Yankees from getting Lee. It's not like it'd be the end of the world for the Rays if he went to them - there's still a Wild Card slot, obviously - but it'd be annoying as heck. The Rays have the prospects to top any offer that the Rangers or Yankees toss out there (even including the Yankees' offer of Jesus Montero), but as our own Tommy Rancel tweeted:

The Lee deal is smart, but $ is an issue. If Yankees didn't have the ability to sign whoever, they'd have to keep a guy like Montero

The Rays could offer Jeremy Hellickson, Desmond Jennings etc, but don't have $ to replace potential talent on the open market.

Exactly. I'd love Lee, but I wouldn't want to give up Hellickson and Jennings for him.