While the right-hander is seeking a multiyear deal, Cerrone reported that "some believe he'll settle for an incentive-rich, one-year deal guaranteed to pay around $10-12 million."
Porcello went 14-12 in 32 starts for the Boston Red Sox last season, but his 5.52 ERA was a career low. He also only had 143 strikeouts in 174.1 innings.
Despite his struggles, Porcello has been a reliable pitcher throughout his career, averaging 185 innings and 31 starts per season while posting a 4.36 ERA during his 11 years in the majors.
He is only a few years removed from winning the 2016 AL Cy Young Award after going 22-4 with a 3.15 ERA. The 30-year-old also played a key role in helping the Red Sox bring home the 2018 World Series.
Any interested team likely assumes last year's problems were a fluke and he will return to being a solid innings-eater in the middle of a rotation.
The signing would be especially important for the Mets, who lost a key part of the staff with Zack Wheeler signing with the Philadelphia Phillies on a five-year deal worth $118 million, according to Jeff Passan of ESPN.
New York could replace him with Porcello, a New Jersey native who could also benefit from the move to the pitcher-friendly Citi Field for his home games.