Merlot,
Lee's last contract was signed in August of 2006. His value has risen substantially. Look at the contracts given to Sabathia, Lackey, Beckett and Burnett. Lee is likely to get from $23-$25 M; while I suspect he'll give the Rangers a $2 M or so "hometown discount," what is likely to make the difference is the length of the contract. Given Lee's age, 32, I doubt Cashdollar will go more than 4 years; Texas will certainly match that.
		
		
	 
 
Hello Rumples, 
It wouldn't surprise me or anyone at all if the numbers went that high. But, I was going by the numbers here: 
http://www.thebaseballcube.com/Salaries/L/Cliff-Lee.shtml
2006-2009    Signed 4-year, $15,000,000 contract with the Cleveland Indians on Aug 9,2006. Club option for 2010 ($8m)
2010-2010    Signed 1-year, $8,000,000 contract with the Philadelphia Phillies on Nov 6,2009. Option exercised by Philles before trade to Mariners  
ary (US $)	 Rank  	Lg Avg (US $)	  Centile
2002	*200,000	  	1,654,088	80
2003	300,900	  	1,773,364	61
2004	303,200	  	1,716,303	63
2005	345,000	  	1,825,756	52
2006	406,200	  	1,937,004	46
2007	*3,000,000	  	2,923,340	35
2008	4,000,000	  	NA	29
2009	6,000,000	  	NA	20
2010	9,000,000	98  	0	13
Career:	  $23,555,300	   estimate
Even at 32 years old I'd bet the Yankees would go 5 years to get him. 
In other news ESPN reported the Yankees have labeled Jeter and Rivera "legacy players" indicating contract offers will match their status. Jeter is 37 and Rivera will be 41 on November 29. Great players in their day, the Yankees are now trapping themselves into financing a mega-bucks sure decline for both players. A 4-year offer for Jeter would very likely showcase his fall to number the 7-9 hitting slots, if not to DH, and as legendary as Rivera is it's almost definite that he would face a similar degrading scenario. Such contracts honor achievements, but is this what is best for the team? 
Cheers,
Merlot