Free-agent outfielder Manny Ramirez has turned down the Dodgers' latest offer, according to the Los Angeles Times.

The one-year, $25 million proposal was made during a face-to-face meeting Sunday night between Dodgers general manager Ned Colletti and Ramirez's agent, Scott Boras.

Ramirez, 36, is seeking a four- or five-year contract, sources say. The Dodgers offered him a higher annual salary than any free agent has received this off-season.

Free-agent first baseman Mark Teixeira will average $22.5 million per season in his new eight-year, $180 million contract with the Yankees.

Yankees third baseman Alex Rodriguez averages $27.5 million in his 10-year, $275 million deal with the Yankees, and Boras has been telling the Dodgers that Ramirez wants to paid as much or more than A-Rod on an annual basis.

The offer was the Dodgers' third of the off-season to Ramirez.

Shortly after the season ended, they offered him a two-year, $45 million contract with an option for a third year that could have raised the total value to $60 million.

They later offered him salary arbitration, but Ramirez rejected the chance to earn in the $25 million range on a one-year, non-guaranteed contract. The Dodgers' latest offer is guaranteed.

The Giants are the only team besides the Dodgers with known interest in Ramirez, but Giants officials repeatedly have said that they would sign him only if the price was right.

Los Angeles Dodgers News News » Report: Manny turns down $25M from Dodgers
Report: Manny turns down $25M from Dodgers
So much for that. MLB Hot Stove