UPDATE: The Orioles have reportedly rescinded their seven-year offer to Davis, according to ESPN.

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UPDATE: "The Orioles have now bid over $150 million for seven years for star free-agent slugger Chris Davis, and while they would prefer a quick response, the situation is still said to be fluid between Davis and the team," writes Jon Heyman of CBS Sports.

"Davis is believed to be seeking a $200 million, eight-year deal, and while that sounds like a significant gap, the sides are staying close in touch."

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UPDATE: They're considering another starter as well.

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UPDATE: Here's the latest on the Orioles' offer to Davis.

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The Baltimore Orioles are indeed serious about retaining free agent Chris Davis. The latest rumors indicate the O's have made a sizeable offer to the slugger.

Baltimore has met with Davis and his representation multiple times as the two sides try to agree on a deal that's fair considering Davis is one of the most sought-after hitters on the market and the Orioles have payroll restrictions.

Even so, the O's showed they're ready to keep Davis in Baltimore.

However, it may not be enough based on a report from this morning.

This is the first reported deal Davis has on the table. Previous rumors suggested the St. Louis Cardinals, San Francisco Giants, Boston Red Sox, Los Angeles Angels, among others were interested in Davis. It's well-known his agent, Scott Boras, will scour the market as long as it takes to get Davis the largest offer possible. The Orioles probably will not be the team that keeps themselves in the running for the veteran if that turns out to be the case.

As a result, Jon Heyman of CBS Sports said today that the O's have checked in with Justin Upton's agent, which would fill their need in the outfield with the possible departures of Davis, Steve Pearce and Gerardo Parra. It's been said in the past Upton would be a good fit in Baltimore, but again, their payroll restrictions may not allow for them to sign such a star (he could land a deal worth $140-$160 million).

Nonetheless, the team continues to explore as many options as they can since they also need to address their starting rotation due to the likely departure of Wei-Yin Chen. Alden Gonzalez of MLB.com says the Los Angeles Angels are getting a lot of calls on starter Hector Santiago and Heyman adds the Orioles were one of the interested clubs. Heyman also reported the O's are considering free agent left-hander Scott Kazmir, who had a poor second half of 2015 and could be in their price range.

The Winter Meetings will continue through Thursday and the Orioles likely hope to at least get their discussions headed in the right direction before they leave Nashville.

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