New York made an initial offer to free-agent left-hander CC Sabathia on Friday, and the offer is worth more than the six-year, $137.5 million extension the Mets gave Johan Santana last offseason, according to major-league sources.

Santana's contract was the largest one ever given to a pitcher.

The Yankees also intend to make offers shortly to free-agent right-handers A.J. Burnett and Derek Lowe, sources say.

While the Yankees' initial offer to Sabathia is significant, sources indicate that he almost certainly will not accept it. Other teams that have shown interest in Sabathia include the Mets, Giants and Dodgers. The Angels could also figure into the Sabathia bidding if they are unable to re-sign free agent first baseman Mark Teixeira.

Beyond the free-agent market, the Yankees may also enter into talks with San Diego over right-hander Jake Peavy. While the Cubs and Braves initially appeared to be the frontrunners in the Peavy sweepstakes, Braves GM Frank Wren told FOXSports.com on Friday that the team had "moved on" after not being able to reach a deal for the Padres ace.

The Yankees' offer to Sabathia was first reported by SI.com.

Yankees co-chairman Hank Steinbrenner confirmed Friday night to The Associated Press at the team's spring training complex in Tampa, Fla., that an offer was made to Sabathia, and that proposals will be forthcoming for pitchers A.J. Burnett and Derek Lowe.

"Yes," Steinbrenner said when asked if an offer was made to Sabathia. "And we're prepared to make offers to Burnett and Lowe."

Steinbrenner declined to give details about the Sabathia offer. He said he felt the Yankees will be successful in the free-agent market.

"I'm starting to become very optimistic," Steinbrenner said. "I think it's going to be mutually beneficial to us and for these particular players that we're after for them to join the Yankees."

Information from The Associated Press was used in this report.