According to ESPN’s Andrew Marchand (via MetsBlog):
An executive with knowledge of the Mets thinking says the Mets plan to be in on the Francisco Rodriguez sweepstakes, but are "unlikely" to bid on C.C. Sabathia.
So far, the Mets seem like the most reasonable candidate to give K-Rod a record-breaking contract. Maybe they won’t meet the 5/75 demand, but it’s hard to see other teams coming close.