LAS VEGAS -- The Yankees and Phillies have emerged as the two most prominent contenders for free-agent right-hander Derek Lowe, according to a report Tuesday on SI.com.

The 35-year-old Lowe is seeking a five-year deal in the area of $80 million, and has drawn interest from multiple suitors. However, it is New York and Philadelphia who have been most aggressive, according to the report.

Yankees general manager Brian Cashman has said that his club's priority is acquiring starting pitching, and Lowe has been listed among its top three choices to help bolster the rotation. CC Sabathia is sitting on a six-year, $140 million offer and the Yankees plan to meet with representatives for right-hander A.J. Burnett this week.

The Phillies are also pursuing their own free agent, Jamie Moyer, and have acknowledged speaking with Lowe's representatives -- he is among Scott Boras' stable of All-Star talent.