This isn’t especially big breaking news, but it does show exactly how much they are interested in Lee that they have reached out to him on the first day teams can contact other teams’ free agents.
The size of the Yankees first offer will be important. When the Yankees began negotiations with CC Sabathia they came out with a $140 million offer to scare away other teams. With Lee it is expected that they may start much more modestly.
Joel Sherman predicted that it may be as small as a four-year $80 million offer. Obviously they are pretty desperate to sign Lee though so they won’t stop there, that will just be an initial offer.