The talk this morning was that the third team is the Red Sox.
The Braves made a strong push for Burnett last week, and they still believe that their offer was strong enough to potentially get a deal done. The Yankees made their interest known in Burnett known even before the free-agent market opened..
The Red Sox have always left open the possibility of signing a free-agent starter, to go with their current rotation of Josh Beckett, Daisuke Matsuzaka, Jon Lester and Tim Wakefield. They have met with CC Sabathia, the top starter on the market, but Boston's interest in Sabathia (and Sabathia's interest in the Red Sox) wasn't believed to be that serious.
It's possible that the Red Sox's interest in Burnett isn't serious, either. An executive with one team involved in the talks said he still thinks the Red Sox are only pursuing Burnett to make life harder on the Yankees. An executive with one of the other teams involved, however, said his team considers Boston a serious contender.
There was also some talk this morning that the Blue Jays were back in the picture, but sources said they're still a longshot at best to keep their free-agent right-hander.