Report: Yankees and Padres expected to re-engage on Juan Soto trade on Monday

Despite being unwilling to meet the San Diego Padres' initial asking price, the New York Yankees aren't out of the running for superstar outfielder Juan Soto.

According to The Athletic's Brendan Kuty, San Diego and New York are expected to re-engage in negotiations regarding Soto at the Winter Meetings on Monday. Talks stalled late last week after the Padres asked for a package including RHP Michael King, pitching prospect Drew Thorpe, cash and up to five additional prospects for Soto and outfielder Trent Grisham, per SNY"s Andy Martino. 

With Soto only being a one-year rental, it's not surprising the Yankees refused to meet San Diego's price, though they shouldn't pretend they aren't desperate after missing the playoffs for the first time since 2016. Not only did New York rank 24th among teams in OPS (.701) and 29th in batting average last season (.227), but it also had the lowest combined WAR from its left fielders in all of baseball (-3.9). 

The Yankees also aren't the only ones in the Soto sweepstakes, which isn't surprising considering he's a generational talent entering the prime of his career. However, a divisional rival could be their biggest competitor for the 25-year-old's services. On Saturday, Hector Gomez of Z101 Digital reported that the Toronto Blue Jays have emerged as the front-runners to acquire Soto.

The Blue Jays appear motivated to land a top star this winter, as they're also believed to still be in the hunt for two-time MVP Shohei Ohtani, per the New York Post's Jon Heyman. 

Although the Yankees aren't willing to include King -- who had a 2.23 ERA and 51 strikeouts across nine starts last season -- in any Soto package, they may have another pitcher who could serve as the centerpiece instead. During a Sunday appearance on MLB Network Radio, Martino suggested that if San Diego would be willing to accept RHP Clarke Schmidt in place of King, then the two parties "could get closer to a deal." 

Schmidt, the Yankees' first-round pick in 2017, has a 4.36 ERA and 1.36 WHIP across parts of four MLB seasons. 

While the cost to acquire Soto will likely still be substantial, the Yankees can't afford to let this kind of talent slip through their fingers, even if it means letting him hit free agency. GM Brian Cashman probably regrets not signing Bryce Harper or Manny Machado in 2019, but passing on Soto, whose 24.2 adjusted batting wins are the seventh-most all-time through a player's age-24, would be a far greater mistake.