With other possible trade options evaporating, the Marlins talked extensively with the New York Yankees on Friday about Giancarlo Stanton, as Miami continues to scramble for ways to reduce its massive debt, according to sources.

Stanton is owed $295 million over the next 10 years, and any trade would be complicated for the Yankees, who would like to include Jacoby Ellsbury. The center fielder is owed about $68.4 million through 2020, and like Stanton, he has a full no-trade clause.

Stanton is prepared to listen to a proposal involving the Yankees, according to sources.

The involvement of New York also could give the Marlins at least some leverage in their talks with the Los Angeles Dodgers, who are believed to be the preferred destination of the reigning NL MVP.

Earlier in the offseason, the Yankees thought that any deal for Stanton was completely out of the question, given their luxury-tax concerns and the early demands of the Marlins. But as Stanton's control of the process has manifested through his no-trade clause, killing the potential for deals with the San Francisco Giants, St. Louis Cardinals and other teams, the Yankees and Marlins re-engaged in talks earlier this week.

Miami, under the new Derek Jeter-led ownership, has spent the past five weeks trying to move Stanton.

Jeter and businessman Bruce Sherman took over a franchise that was saddled with debt when they bought the Marlins from Jeffrey Loria for $1.2 billion. They got one big salary off the books Thursday when they traded Dee Gordon to the Seattle Mariners for three minor leaguers. Gordon is owed $37 million in base salary through the 2020 season.

A Stanton deal has been tougher.

The Marlins had the parameters of trades with both the Giants and Cardinals, but both clubs said Friday that Stanton refused to waive his no-trade clause for them.

"Our agreement with the Marlins to acquire Giancarlo Stanton subject to his waiving of the no-trade clause will not move forward and it is our understanding that the Marlins and Stanton are exploring other options," the Giants said in a release.

Said Cardinals chairman and CEO Bill DeWitt Jr.: "We had an agreement to acquire Giancarlo Stanton from the Miami Marlins, subject to him waiving his no-trade clause. While we are disappointed in his decision, we will continue to make every effort to improve our club for the upcoming season."