Olney also says that the White Sox, Rangers, and Astros are the front runners in that update. Tim Dierkes of MLBTR profiled Abreu yesterday, and predicted a six year, $54 M deal. Obviously this would trump that deal, although it would be interesting to hear how many years the $70 M deal is for. If it's a six year deal, then Abreu would be in line to receive a little over $11.5 M per year.
The Pirates would have the money to sign Abreu, but we don't know what their level of interest is. So far we've only heard that they've checked on him, but they haven't been mentioned as one of the top teams going after him. The MLBTR article says that teams are split on Abreu, with some doubting his ability to hit in the majors. It's entirely possible that the Pirates are one of those teams.
Tim is the owner and editor in chief of Pirates Prospects. He started the site in January 2009, and turned it into his full time job during the 2011 season. Prior to starting Pirates Prospects, Tim worked with AccuScore.com, providing MLB, NHL, and NFL coverage to various national media outlets, including ESPN Insider, USA Today, Yahoo Sports, and the Wall Street Journal. He also writes the annual Prospect Guide, which is sold through the site. Tim lives in Bradenton, where he provides live coverage all year of Spring Training, mini camp, instructs, the Bradenton Marauders, and the GCL Pirates.