The Kansas City Royals are set to join the bidding war for free agent Carlos Beltran, who is one of the highly-coveted veterans in the free agency market.

The Kansas City Star, citing sources within the team, reported that the Royals are looking to have a reunion with Beltran, who started his career in Kansas City.

"We'd love to have him in. One thing about Carlos Beltran is he's a money player. He's an RBI guy. He produces," a Royals official said in a statement.

The 36-year-old outfielder spent five years with the Royals tallying four 100-run and 100-RBI seasons before being traded to Houston in 2004. Last season, the 16-year veteran had 24 homeruns and 84 RBIs in 145 games with the St. Louis Cardinals.

Beltran is being pursued by several deep-pocketed teams, including the New York Yankees and the Boston Red Sox, but the Royals could have the upper hand because they are reportedly willing to offer a three-year deal, which is Beltran's alleged asking price.

In order to make room for Beltran, general manager Dayton Moore said that they could enter into trade deals in order to shed payroll, while also hoping to add another marquee player other than Beltran before the start of next season.

"We're still looking at things. I think there will be some trade possibilities at the Winter Meetings," Moore said. "We'll be aggressive with our farm system with deals that make sense. We do feel like we've got some excess in some areas."

So far, the Yankees are still the consensus favorite to sign Beltran, according to several front office executives interviewed by the New York Post.

"I think at this point it would be an upset if he didn't end up there," one executive said in the NY Post interview. "Beltran wants three years, so I think the Yankees will either go three years or give him a [bleep]-load more on a two-year deal. I think the feeling in the industry is if it comes down to a two-year deal because no one goes to three, then the Yanks will win."