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When the clock struck 12 this morning, it signalled the official start of baseball's spending spree, allowing clubs and free agents to start getting down to the nitty-gritty of negotiating new contracts.

Forget about the lousy economy and the growing unemployment rate, if you can.

Over the next month or so, leading into the winter meetings in Las Vegas, baseball executives will be gambling that the millions they will lavish on free agents will be enough to remain competitive playing America's pastime.

It's a frantic period for the 30 major-league clubs, which have been busy since the end of the World Series charting their future course and trying to determine whether their needs can be met by an expensive free-agent acquisition or two.

It's also an interesting time for baseball fans trying to speculate who might end up where and for how much — and whether the cost will ultimately be worth it.

Will Manny Ramirez enjoy being Manny in New York or does he have a West Coast landing spot in mind? Will CC Sabathia get an offer he can't refuse from the New York Yankees? Can Francisco Rodriguez be a saviour for the New York Mets?

And who is going to step forward and take a chance on the superlative, but often wonky right arm of pitcher A.J. Burnett, who officially filed papers yesterday to opt out of the two remaining years and $24-million (U.S.) of his contract with the Toronto Blue Jays to see what is out there.

The Blue Jays maintain they are an interested suitor, but only if the price is right. And it probably won't be.

That likelihood would leave the Jays hunting for some of the second-tier free agents, including pitcher Derek Lowe and designated hitters Milton Bradley and Jason Giambi.

Here is a rundown on several of the top free agents available and where they could conceivably wind up once all the dust settles:

• CC Sabathia: Undoubtedly the star of this year's free-agent pitching crop, and is there any doubt that he won't wind up in Yankees pinstripes heading into the 2009 season?

"I think the Yankees are going to back up the money truck," one baseball executive said.

The Yankees are so serious in their pursuit of the 28-year-old left-hander that star shortstop Derek Jeter made a recruiting call.

Sabathia was 11-2, with a 1.65 earned-run-average, for the Milwaukee Brewers after he was traded by the Cleveland Indians on July 7.

It is anticipated his new deal will eclipse Johan Santana's six-year, $137.5-million agreement with the Mets.

There are not many clubs that have that kind of coin available, and the Yankees, baseball's biggest spending outfit, are one of them.

• Manny Ramirez: If you cruise the Internet and read the trades, it appears Ramirez and his big bat are headed everywhere. The Yankees, Mets, Los Angeles Dodgers, Los Angeles Angels of Anaheim — even the Blue Jays — have all reportedly expressed an interest in the 36-year-old slugger.

Ramirez has already turned down a two-year deal with a third-year option that could have pushed the contract's value to $60-million to remain with the Dodgers.

Scott Boras, his agent, believes a six-year contract would be more to his client's liking.

However, the best fit for Ramirez would be to remain on the West Coast as a member of the San Francisco Giants, who are desperate for a dependable bat in the middle of their lineup.

• Mark Teixeira: The best all-round free agent and also one of the most expensive.

It is believed the 28-year-old switch-hitting first baseman, who turned down an eight-year, $140-million offer last summer from the Texas Rangers, is anticipating a 10-year pact this time worth roughly $200-million.

The Yankees, Baltimore Orioles and Angels are all said to be interested, but the best fit would be in Boston with the Red Sox, who would solidify an already solid foundation with the addition of Teixeira. Should it happen, the Red Sox would move Kevin Youkilis from first base to third base and then try to unload veteran Mike Lowell, who is coming off hip surgery.

• Francisco Rodriguez: Unwilling to be upstaged by the Yankees in their pursuit of Sabathia, the Mets will go all out to get Rodriguez, a 26-year-old right-handed closer, who set a single-season record last season with 62 saves.

The Mets are desperate for a closer, with Billy Wagner out for next season after undergoing Tommy John elbow ligament replacement surgery, and Rodriguez, despite a lot of mileage on that arm over the past six years, obviously fits the bill.

K-Rod is said to be looking for a deal that will pay him in the $75-million range over five years.