The Yankees and San Diego may be on the verge of consummating the first major transaction at this year’s Winter Meetings.

Trade discussions reportedly intensified on Tuesday night between the Yankees and Padres regarding All-Star left fielder Juan Soto.

Soto, 25, is entering the final year of his contract and intends to enter free agency following the 2024 season. San Diego is not confident in their ability to sign the three-time All-Star to a long-term contract, hence their desire to engage the Yankees in a potential trade.

In 2023, Soto slashed .275/.410/.519/.930, playing all 162 games, with 35 home runs, 109 RBIs, and 32 doubles. Over six seasons as a full-time player for Washington and San Diego, Soto has slashed .284/.421/.524/.946.

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The Yankees, following a disappointing 2023 season (82-80) by their standards, are looking to make a splash. They are also in talks, along with several other teams, including the Mets, for star Japanese international free agent Yoshinobu Yamamoto.

Trade discussions between the Yankees and Padres stalled when San Diego reportedly requested a package consisting of pitcher Michael King, pitching prospect Drew Thorpe, currently ranked 99 overall by MLB Pipeline, and 3-4 additional prospects.

However, based on Tuesday’s report, the Yankees and Padres may be able to reach a consensus in order to finalize a trade and send Soto to the Bronx, at least for the 2024 season.