With the MLB Off-Season underway, many teams are looking to upgrade, find replacements, and make major renovations to their clubs. TSN.ca looks at the day's hottest off-season rumors and speculations.

Masterson has offers

A number of teams have spoken to pitcher Justin Masterson, however only the Texas Rangers and Boston Red Sox have made reported offers.

Other teams that kicked tires on the 29-year-old include the Miami Marlins, Chicago White Sox, Kansas City Royals, San Francisco Giants and Minnesota Twins.

Boston’s offer to Masterson is for at least two years, and the team wants him to be a starter.

Masterson was originally selected by the Red Sox in the second round of the 2006 draft. He was then flipped to the Indians in a trade that brought Victor Martinez to Boston.

He split time last season between the Cleveland Indians and St. Louis Cardinals, posting a combined 7-9 record with a 5.88 ERA as both a starter and reliever.

Montero to Cubs?

The Chicago Cubs and Arizona Diamondbacks have had discussions regarding Arizona catcher Miguel Montero.

Montero has three years and $40 million left on his contract.

The reported return for Montero would not be significant and would likely be for two Single-A pitchers.

Wellington Castillo, the Cubs catcher last season, hit .237 with 13 home runs last year. Montero posted similar numbers, batting .243 with 13 home runs as well.

Latest on Lester

The four teams remaining in the hunt for Jon Lester are the Cubs, Giants, Los Angeles Dodgers and Red Sox, and all have made offers around six years and $150 million.

There is a mystery team that may be willing to go seven years and $175 million.

There was a belief that a deal could happen today, but many think that the process will drag on until tomorrow.

Uggla Eyeing Comeback

Second baseman Dan Uggla is eyeing a return to baseball, and there are five teams with reported interest.

Uggla struggled mightily since leaving the Marlins for the Atlanta Braves in 2011.

Last season, the 34-year-old split 52 games between the Braves and Giants, batting only .149.