Jason Bay rejected Boston's contract offer of four years and close to $60MM two days ago, and now it seems the Red Sox maybe be looking to alternatives. SI.com's Jon Heyman tweets that even though the team plans to keep in touch with Bay, "competing execs believe they're looking at hard at alternatives now."
Yesterday we learned that Boston expressed interest in four Scott Boras clients, one of whom was Matt Holliday, and he can certainly be classified as an alternative to Bay. However, outside of Holliday no one on the free agent market can replicate Bay's offensive production, so an alternative would certainly be a downgrade.