Source: Yankees may be in play for Marlins' Stanton

Aaron Judge at the plate, with Giancarlo Stanton in the on-deck circle? That's a mind-boggling display of power. And now that the reigning National League MVP reportedly would be willing to waive his no-trade clause to go to the Bronx, the Yankees haven't ruled out exploring a deal for Stanton, even if it still very much appears to be a longshot, according to a person familiar with the situation.

Earlier this week, it seemed that Stanton would be headed to either the Giants or Cardinals after the Marlins had negotiated the framework of potential trades with both clubs. But late Thursday night, The Athletic's Ken Rosenthal reported those deals had collapsed (The Associated Press reported Friday that Stanton refused to waive his no-trade clause) and Stanton instead was turning his attention to the Dodgers — his hometown team — as well as the Yankees on a new list of preferred destinations that Sirius XM reported also includes the Cubs and the defending world champion Astros.

A source confirmed that Yankees general manager Brian Cashman had indeed checked on Stanton's availability during last month's GM meetings in Orlando. But with the Marlins' slugger still owed $295 million over the next 10 years, the Yankees are reluctant to take on such a monster contract immediately after shedding long-term extensions to both Alex Rodriguez (10 years/$275 million) and CC Sabathia (5 years/$122 million) as they try to get under the $197 million luxury tax threshold for 2018.

Still, the Marlins are in full fire-sale mode, just two months into Derek Jeter's tenure as CEO, and that desperate need to dump payroll could create a unique opportunity for the Yankees to assemble the most feared deep-ball duo in the sport. Jeter's ownership group purchased the Marlins for $1.2 billion, but the franchise reportedly is $400 million in debt, and the selloff began this week when Dee Gordon — along with the $38 million left on his contract — was shipped to the Mariners.

While the Yankees don't have a pressing need to take on such a heavy investment in Stanton, they also won't disregard any chance to land another slugger who drilled 50-plus homers last season. The Yankees were stunned when Japanese two-way star Shohei Ohtani dismissed them without even as much as a meeting — Ohtani picked the Angels on Friday — and trading for Stanton would certainly fill the void left by that snub. The Yankees had envisioned Ohtani in a rotating DH role during some of his non-pitching days, and now Stanton could step in for some of those turns, in addition to splitting outfield time.

“One thing my family has always done, when money is coming off payroll, wherever humanly possible, we're going to put it back into the club — not into our pockets,” Hal Steinbrenner said Wednesday in the Bronx. “Certainly, we'll get into the free-agent market. We will leave no stone unturned and do our best, as we always do, to make it happen.”

Steinbrenner wasn't asked about Stanton because the assumption was he already was headed elsewhere as the Yankees were introducing new manager Aaron Boone at Yankee Stadium. If Stanton truly is open to the Bronx, however, the Yankees would need to get creative to clear some payroll space for his arrival and that could mean trying to pawn off some combination of Jacoby Ellsbury, Starlin Castro and Chase Headley on the Marlins.

Ellsbury, who has lost the centerfielder's job to Aaron Hicks, still is owed roughly $69 million through 2020. Castro is due $23.7 million total over the next two seasons and Headley will earn $13 million during this final year of his expiring contract. The Yankees have top prospect Gleyber Torres in line to take over at one of the infield spots, and a source indicated the Yankees would be unreceptive to dealing any of their elite youngsters if pushed to take on nearly all of Stanton's remaining salary in a swap.

With Jeter hiring away some of the Yankees' personnel in charge of player development, the Marlins' new staff does have unique insight into Cashman's deep farm system, so that could potentially help facilitate a trade. But Stanton's no-trade clause, combined with the Marlins' serious financial distress, has boxed Jeter and Co. into a corner as they look to deal Miami's biggest gate attraction. Even as the Yankees surfaced on Stanton's list, there is an industry-wide belief that the Marlins' slugger is trying to ultimately steer his way to the Dodgers, the franchise not far from where he grew up in Sherwood Oaks, Calif.