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Jose Reyes - Mets + Marlins x Winter Meetings = Mass Hysteria!

The Jose Reyes Ultimatum may be coming to a head tonight, as the Marlins have apparently increased their offer, the Mets have apparently conceded the race, and Sandy Alderson is set to meet with the media within the half-hour.

Things heated up three hours ago when ESPN Deportes reported that the Marlins had improved their offer to six years and $111 million to bring Reyes to Miami. About two-and-a-half hours ago the Mets became aware of the Marlins' sweetened proposal and, at that point, reportedly considered themselves out of the bidding.

An hour ago, Ken Rosenthal corroborated the earlier Spanish-language report, pegging the total contract offer at $110 million over six years.

Sandy Alderson will speak with the media within the next half-hour and then exclusively to SNY once his media appearance has concluded. It's not yet clear if this is a pro forma meet-and-greet to inaugurate the Winter Meetings, or if Alderson has called this presser with the express purpose of officially calling off the Mets' pursuit of Jose Reyes.

UPDATE [9:33pm]: Per Andy McCullough, Sandy Alderson has confirmed that if the Marlins' offer at six years and $110 million that the Mets won't be able to match it.

UPDATE [9:54pm]: Per Ken Rosenthal, the Marlins have reportedly signed Jose Reyes to a six-year, $106 million deal, pending a physical. Poop.

Keep it tuned here as we'll have full coverage of this unfolding story.