TUCSON, Ariz. - Baseball's annual free-agent bonanza officially starts today, and the Philadelphia Phillies have been behaving like the frenzied rock 'n' roll fans who camp overnight next to the ticket window just for the chance to be first in line.

The Orioles? They're here, too, but for now, they're playing it cool.

Phillies general manger Ed Wade walked through the lobby at baseball's GM meetings yesterday and willingly told reporters his club plans to make offers today to Cleveland Indians first baseman Jim Thome, Atlanta Braves pitcher Tom Glavine and San Francisco Giants third baseman David Bell.

"We'll be aggressive with our offers and see if we can get it done sooner rather than later," Wade said. "We're hopeful we can get this thing done. We'll see."

Searching for a big bat for the middle of their lineup, the Orioles have expressed interest in Thome, Boston Red Sox outfielder Cliff Floyd, Texas Rangers catcher Ivan Rodriguez and New York Mets third baseman Edgardo Alfonzo.

But unlike Philadelphia, the Orioles have no definitive plans to make a specific offer on a specific date.

As a rule, the biggest free agents usually don't sign with teams until closer to the mid-December winter meetings, and in a year when the prices are expected to drop, not rise, the Orioles are waiting for the market to set itself.

"We're still considering all of our options and all the possibilities," said Orioles vice president for baseball operations Syd Thrift. "We'll wait to see the way things are going and see what fits for us, position-wise and fiscally.

"We keep communicating with the representatives [of their targeted free agents] to keep each other informed."

Two years after Alex Rodriguez signed his infamous 10-year, $252 million contract, baseball officials are predicting a market correction this year based on several factors, including a weakened economy, alleged league-wide losses estimated at $800 million and a new collective bargaining agreement that includes more revenue-sharing and a luxury tax.

"I think the economics of the game alone will dictate a correction," Dodgers president Bob Graziano recently told the Los Angeles Times. "And the economics combined with the spending disincentives in the bargaining agreement virtually ensure a correction. How big is difficult to say."

And the figures won't be as eye-popping this year simply because the free-agent class is notably weaker than the one that included Rodriguez and Manny Ramirez two years ago, and Jason Giambi last season.

Thome, 32, is considered this year's biggest prize and the offer Philadelphia is reportedly planning to make - five years at $75 million - wouldn't even make him the third-highest-paid first baseman in the game.

The average annual value of that contract, $15 million, would be significantly less than Giambi's ($17.1 million), Carlos Delgado's ($17 million) and Jeff Bagwell's ($17 million).

Cleveland's best offer to Thome, so far, was for four years at between $10 million and $12 million a year.

So the price might be right for the Orioles, and manager Mike Hargrove would love to have the chance to be reunited with Thome, who played for him in Cleveland for six years.

"Jimmy is very attractive," Hargrove said yesterday. "He's a guy you can build your offense around. He's a legitimate No. 4 hitter, and having him in your lineup allows the other guys around him to fit into the right roles. I think Baltimore would be a great fit for him. I know he loves hitting in our ballpark."

Thome hit .304 with a career-high 52 home runs last season, but Hargrove also had good things to say about Floyd (.288 with 28 homers last year), Rodriguez (.314, 19) and Alfonzo (.308, 16).

Floyd, a left-handed hitter like Thome, is said to be looking for a four- or five-year deal worth upward of $10 million a season. Alfonzo reportedly told the Mets he would be willing to do a shorter deal, for perhaps two years, but still wanted $10 million per. Rodriguez's last contract with the Rangers was for five years, $42.5 million.

"I think all those guys are attractive," Hargrove said. "I think one will make a huge difference, and two would really help."

Jim Thome

Market price: $15 million

Skinny: Orioles would like to reunite slugger with Hargrove and let him take aim at sort flag court in right.

Cliff Floyd

Market price: $8.5 million

Skinny: A less costly left-handed hitter, outfielder had 28 home runs in 146 games last season.

Edgardo Alfonzo

Market price: $8 million

Skinny: A viable O's target, he is a good right-handed hitter who can play both third base and second base.