The offer is significant in terms of the fact that the Phillies haven't pursued many of Boras' clients since the J.D. Drew debacle and is also significant in that they are pursuing a Type-A free agent who would require compensation. If the Phillies were to sign Lowe, the Los Angeles Dodgers - Lowe's former team - would receive the Phillies first round pick (30th overall).
It should be noted that it's unlikely Lowe would accept the Phillies offer prior to next week's Winter Meetings. He has officially received an offer from one other, undisclosed, club and has several other teams pursuing him. The Mets, Giants, Mariners and Dodgers have all expressed interest in Lowe, with the Yankees and Red Sox possibly interested based on what happens with other free agent pitchers that they are pursuing.
The terms of the Phillies offer weren't disclosed, but it's thought that Lowe will be looking for four years and roughly $15 million per season as an average, meaning that he would want a commitment of $60 million. It's possible that he would come down a little on either the years or the dollar amount if he was presented with the right situation.
Most of the top free agents aren't expected to sign until at least next week when teams gather for the annual Winter Meetings, which are being held this year in Las Vegas.
It had been thought that Jamie Moyer would be signed by now, but the two sides have been unable to get a deal done, although it's thought that they've made progress and are very close on the potential terms of a deal.
Lowe, 35, was 14-11 with a 3.24 ERA with the Dodgers last season. Since coming to the National League prior to the 2005 season, Lowe is 54-48, 3.63 and has averaged 210 innings per season.