The Times speculated that the offer is for five years, $70 million and would not be increased. Beltre is believed to be seeking a six-year, $90 million deal, coming off a comeback season with the Boston Red Sox.
Moreno also told The Times that, despite rumors to the contrary, the club had interest in Carl Crawford, but never made an offer to free-agent outfielder, who signed a seven-year, $142 million contract with the Red Sox.
Moreno, who paid $183 million for the club in 2003, said to sign a player to a nine-figure contract would result in either losing money or raising ticket prices, and he wants to do neither.
Ken Gurnick is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.