From Tim Brown of Yahoo:
The Padres offered Trevor Hoffman a one-year contract for significantly less than the $7.5 million he made last season. Hoffman did not dismiss the offer, but 10 days ago requested a meeting with John Moores, Sandy Alderson and Towers. The meeting hasn’t happened yet.
I would think that the Padres would act fairly quickly to at least talk to Hoffman, the longest tenured player and all time MLB saves leader.
Last time the Padres tried to negotiate in the media. This time Hoffman might just return the favor and tell everyone exactly what they offered if they don't meet with him soon.