With the curtain about to rise on the bidding war for Barry Bonds and Jason Giambi, baseball's executives are seeking answers to two key questions, both of which could determine where the game's top free agents will be playing in 2002.

First, does any club have the cash and the incentive to pay the 37-year-old Bonds $20 million a year for up to five years?

	Jason Giambi First Base Free Agent Profile
	2001 SEASON STATISTICS GM HR RBI BB OBP AVG 154 38 120 129 .477 .342

And second, does Giambi really want to sever his strong emotional ties to the A's, simply to award himself to the highest bidder?

If so, it's safe to assume the Yankees will end up with the slugging first baseman, since they're apparently ready to pay up to $18 million a year. People familiar with the Yankees' offseason battle plan say George Steinbrenner has already instructed officials to "do what it takes" to sign Giambi -- a fact that has forced the A's to all but concede defeat in any potential cash-war.

"If it's just about the money, then we can't compete. If Jason wants the most money, obviously, we're not going to out-bid the Yankees," said A's general manager Billy Beane. "I'm not saying there's anything wrong with Jason seeing what's out there. He deserves it, he's put himself in a position where he's earned that right. But we're talking about a team with a $38 million payroll."

Beane says his resources may be too limited to keep free agents Jason Isringhausen or Johnny Damon, as well, although it's Giambi's coming decisions which could set off a chain reaction of player moves.

There are agents on the sidelines who believe that, despite the Yankees' wealth and whatever sales pitch Mark McGwire can deliver on the Cardinals' behalf, Giambi will ultimately remain in Oakland -- where the A's still have a powerful nucleus, not to mention his brother, Jeremy.

In that scenario, the Yankees could re-focus on Tino Martinez, who led the team in home runs (34) and RBI (113) in 2001. But to do so would mean eclipsing rookie first baseman Nick Johnson, whom club officials believe is ready for at least a 15-HR, 80-RBI season hitting in the No. 7 spot.

	Tino Martinez First Base Free Agent Profile
	2001 SEASON STATISTICS GM HR RBI BB OBP AVG 154 34 113 42 .329 .280

Indeed, considering Martinez as a second-tier option might be moot, because by the time the Yankees have exhausted their courtship of Giambi, Martinez may have already attracted better, longer-term offers from the Orioles and Mets. So, without Giambi or Martinez, the Yankees would have to find their offense in a new outfield alignment, either by signing Damon, acquiring Gary Sheffield through a trade, or most radically, by signing Bonds.

Is it possible? Although one Yankee official said on Friday, "there's no chance in hell" they would bid for Bonds, once the Mets enter the fray, which they likely will, Steinbrenner could be enticed to launch a pre-emptive strike.

The question, of course, is money. Agent Scott Boras will ask that Bonds' 2001 $10.3 million salary be doubled by any new employer, arguing that the game's new home run king has every incentive to keep hitting fastballs to the planets.

After all, Bonds is smitten with the idea of passing Willie Mays' career home total of 660, according to friends, correctly assuming that he can hit 94 more HRs in the next two seasons.

What remains to be seen, however, is who will pay for the next pursuit of the history books -- one that could possibly include Bonds' assault on Babe Ruth's 714 home runs and even Henry Aaron's all-time record of 755.

The Giants, flush with cash, could've signed Bonds for $72 million over four years last spring, but chose not to. Bonds promptly slugged a record-setting 73 home runs in 2001, which means owner Peter Magowan faces a public relations backlash should Bonds simply walk away.

Thing is, Bonds has no real appetite for New York's aggressive media or its in-your-face fans. In fact, he actually does lean towards San Francisco, and if he could be sure the money was equal and reasonably sure the Giants were headed back to the postseason, "then he'd probably stay," according to a person close to the slugger.

But Bonds also knows the Yankees offer him a greater chance to get to the World Series before he retires, especially if they pursue Chan Ho Park as a replacement for Orlando Hernandez.

If the Yankees sign either Bonds or Giambi, however, even Steinbrenner will ultimately realize his reservoir of money isn't limitless. That's because the $24 million the Yankees are saving in 2002 with the departures of Martinez, Paul O'Neill, Scott Brosius and Chuck Knoblauch would go right to the new free-agent prize.

That's why the Yankees are attracted to the idea of putting rookies at the corners -- Johnson at first base, and Drew Henson at third. The former Michigan quarterback faltered at Triple-A Columbus last summer, hitting only .222, but he improved greatly in the Arizona Fall League, hitting over .300 with a .409 on-base percentage.

It's a gamble, since Derek Jeter would then become the oldest player in the infield at age 28, but the Yankees are willing to experiment -- based on Giambi's decision, of course.

He's the Bombers' prime target in the next few weeks, and whether you believe the A's, who glumly think the bidding is already over, or the slugger's friends, who say loyalty will be strong factor, the baseball world waits, holding its breath.

Bob Klapisch of The Record (Bergen County, N.J.) covers baseball for ESPN.com.