LAKE BUENA VISTA, Fla. - A deal to send Cincinnati Reds second baseman Brandon Phillips to the New York Yankees for outfielder Brett Gardner has been rejected by the Yankees.

Persons close to the negotiations on both sides said late Wednesday that a deal had been discussed but was rejected.

Part of the holdup is a 12-team no-trade clause that is part of Phillips' contract with the Reds. The Yankees are one of the 12 teams on that list.

Phillips also reportedly asked to have his contract re-worked - he has four years and $50 million left on his current deal signed in 2012 - as any part of any trade to the Yankees.

The Yankees, who lost free agent starting second baseman Robinson Cano to the Seattle Mariners last week, are apprently reluctant to meet Phillips' terms for a longer contract in addition to being hesitant to part with Gardner despite New York's signing of outfielders Jacoby Ellsbury and Carlos Beltran recently to a staff that already includes surplus outfielders Ichiro Suzuki and Vernon Wells.

The Yankees have said they would move Gardner if the price is right, which is essentially what the Reds have said about Phillips. For now the deal is apparently not acceptable for either team.

If the Reds are to trade Phillips, it would be easier to work a deal before August, when he gains full no-trade rights after reaching 10 years of service in the league including at least his last five with the same team.

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