The Cubs, Red Sox, Giants and Dodgers are believed to be the top four suitors for Jon Lester, who reportedly isn’t expected to make a decision prior to the beginning of next week’s Winter Meetings. We’ll keep track of today’s Lester rumors here…

Ryan Dempster, who joined the Cubs’ front office today, has been in contact with Lester and talked up how great it is to pitch with the Cubs, writes ESPN Chicago’s Jesse Rogers. A source familiar with the Lester negotiations told Rogers that reports indicating a $130-140MM offer from the Cubs are actually low. Lester is expected to top $150MM, Rogers writes, and if a team “blows past” that number by adding a seventh year or bidding $160-170MM, Chicago is likely to bow out of the race.