The New York Yankees and Boston Red Sox may be on the precipice of a bidding war when it comes to signing free agent outfielder Juan Soto.

MLB insider Jon Heyman of the NY Post reported Tuesday that the Red Sox had emerged as true contenders for Soto after a recent pitch to the 26-year-old. On Wednesday, it was reported by Heyman that the Yankees had gone back to Soto with an improved bid of their own.

Per Heyman, New York upgraded its initial bid to Soto at some point in the past few days, but notes that the situation involving the star outfielder “remains fluid.” The team has also reportedly told Soto that they’d be willing to include opt-outs in his new deal.

With the first round of Soto’s free agency effectively concluded, the next round seems to have begun, and the AL East rivals have reportedly upped the ante. It’s possible other interested teams such as the New York Mets, Los Angeles Dodgers and Toronto Blue Jays will also be in contact with Soto’s camp in order to make adjustments to their opening offers. Heyman said the Soto sweepstakes were only in their “middle innings,” suggesting it could be a while still until his decision is made.

Soto’s new deal is expected to run up a tab worth $700 million. He’s the type of player who can immediately change the outlook of a franchise, and it seems there are multiple teams who aren’t shying away from competing for his signature.