Acee didn't name the clubs considering Yates but did mention the Padres' offer would need to substantially improve if they hope to get back in the running for the reliever. San Diego isn't expected to improve its offer.
The Los Angeles Dodgers could be one of the five teams, as they appear to have "significant interest" in the 33-year-old. The Toronto Blue Jays also appear to be targeting Yates, according to MLB Network's Jon Heyman.
Yates made six appearances for the Padres in 2020, authoring a 12.46 ERA and 2.54 WHIP before undergoing season-ending surgery to have bone spurs removed from his right elbow in August.
The Hawaiian native led MLB with 41 saves in 2019 alongside a 1.19 ERA, 1.30 FIP, and 15.0 K/9.
Yates appears to be looking for an incentive-laden deal that earns him upward of $5 million.