The reason why the Yankees’ foremost insiders have been vehemently denying any interest in a Nolan Arenado trade all winter should be clear by now, if it wasn’t already.

Pitchers and catchers have arrived at Yankees camp in Tampa, and Marcus Stroman is still rostered. Arenado, despite an erroneous report, isn’t in Jupiter yet, but should be arriving in a matter of days, despite a trade being John Mozeliak’s stated “Plan 1, 2 and 3” almost a month ago. Both players are marooned in places they probably would prefer not to be.

It felt as if Stroman’s arrival marked the expiration of the ticking clock that even tangentially connected the Yankees to Arenado’s market. The third baseman is owed $74 million over the next three seasons, and despite rumored “re-engagement” with the Dodgers and Yankees in recent weeks, it’s always felt like the Boston Red Sox are the only team equipped to satisfy St. Louis’ demands (or, at least, approximate them). Of course, they just signed Alex Bregman mashing this entire process into trade dust.

Cardinals insider Derrick Goold pulled back the curtain just a bit more on Wednesday, too, in the wake of yet another series of emphatic denials from Yankees insiders (who were telling most of the truth).

Have the Yankees had conversations with the Cardinals on Arenado? It seems so, but all of them stopped abruptly when St. Louis wouldn’t let Brian Cashman dictate every term of the acquisition. According to Goold, the Yankees only wanted to continue chatting if the Cardinals were willing to cover “enough salary to mitigate the risk” of further regression. The Cardinals won’t go as far as the Yankees would like them to, and a trade is unlikely. That’s why Jack Curry wants this conversation to stop. He knows that the Yankees’ and Cardinals’ desires here will never match.

Any truth to this Derrick Goold report about the Yankees interest in Arenado

Seems they have interest but at their price @JackCurryYES @martinonyc @Joelsherman1 @RealMichaelKay pic.twitter.com/7CSlrT7M1p

— Bobby Milone (@BobbyMilone29) February 12, 2025

Yankees, Cardinals can’t come close to making money right on Nolan Arenado trade

Of course, the Red Sox clearly weren’t overly enthusiastic about moving Rafael Devers and blocking their prospects just to take on the full $74 million, either. Nobody’s going to complete an Arenado trade at face value.

As long as Arenado remains in St. Louis, there’s a sliver of hope that desperation takes over and the Yankees swoop in, at their preferred dollar figure, especially now that Boston has formally balked. That said, it feels extremely unlikely. We can chalk this one up as another game of chicken the Yankees weren’t entirely invested in playing.