According to reports, the Rangers have expressed some interest in Colorado’s Nolan Arenado recently.

These reports are not true.

Oh, sure, multiple sources confirm the Rangers have been in contact with Colorado about trading for the potentially franchise-altering third baseman. But to suggest this as “recent,” or simply “interest,” would be like saying people fighting over the Popeye’s fried chicken sandwich are just interested in some lunch.

The Rangers have been intrigued, fascinated, maybe even a little obsessed, over Arenado for years. Before February when he signed the eight-year, $260 million extension he now sits under with Colorado, he stood out as the Rangers’ most likely free agent target for this winter. So, yeah, they are more than a little interested.

And the most important thing: Colorado, which may be at a point where it needs to retool, isn’t necessarily ruling the idea of trading him.

“Typically, with those guys, we don’t start those conversations,” Colorado GM Jeff Briditch told reporters during the winter meetings. “[But] this is the time of year where those conversations happen. This is the time of year where we at least listen to teams and go, ‘OK well, should we try to investigate and put something together.’ That’s what these jobs are.”

The job is not finding out if there is interest. There is plenty of that.

Who wouldn’t want an elite defensive third baseman with above-average offensive ability? If he dragged an on-deck circle around with him, he’d be the spitting baseball image of Adrian Beltre, who just happened to be Arenado’s favorite player as a kid.

The job is finding a match despite Arenado’s hefty, multilayered contract, while still returning Colorado a package of players that can allow the Rockies to either make another run at a wild card spot or jump-start a rebuild.

In a lot of ways, Colorado finds itself in the same place the Rangers did with Alex Rodriguez in the winter of 2004: With a great player who wants to win and who has significant control over whether he stays or goes. As with Rodriguez, it’s complicated. Remember, the Rangers had a deal in place with Boston before the MLB Players Association blocked it over concerns Rodriguez was essentially taking a pay cut to get out of Texas.

There are complications here, too. Beyond the size of the contract, Arenado can opt out after 2021, which could limit what a team is willing to give up. And he has a complete no-trade clause, which allows him to dictate where he would be willing to accept a trade.

So are these issues for the Rangers?

Let’s examine the potential obstacles one by one:

The contract: Not a problem

If there is one advantage the Rangers would have over potential suitors, it’s their willingness to take on the remaining seven years and $234 million owed Arenado. Why do we say this? Because Arenado’s deal was basically the template the Rangers used in their pursuit of Anthony Rendon. They’ve already demonstrated they are willing to get close to this.

The Rangers’ initial offer to Rendon was for six guaranteed seasons at $195 million. According to multiple sources, they were willing to go to a seventh year, too, but agent Scott Boras never returned to them after receiving the seven-year, $245 million offer from the Los Angeles Angels that Rendon ultimately accepted.

The other clubs who would potentially figure in this conversation: Atlanta and the Los Angeles Dodgers. The contract would likely eliminate the Braves from the conversation. The Dodgers? They are a threat to the Rangers in any scenario for Arenado, if they are so motivated. Trading Arenado to a team in their own division, though, would be an unpopular move for the Rockies.

The package: Problem

While the Rangers can probably offer Colorado the most financial relief, the Braves and Dodgers have more to offer in terms of player capital. If the Rockies are willing to eat some of the contract, they could likely extract more from Atlanta or Los Angeles.

Atlanta and Los Angeles have two prospects ranked in the top 40 of MLB Pipeline’s top 100 and three players apiece in the top 100. The Rangers have none in the top 50 and just two: Josh Jung (55) and Sam Huff (73) in the top 100. Neither of them is ready for the majors this year, whereas Atlanta or Los Angeles could front a package with a prospect who could jump straight to the big leagues and still have a top 50 prospect at the top of their systems.

Any package from the Rangers would likely have to include one of Jung, Huff, Cole Winn or Hans Crouse, the top four prospects in the system. The second prospect would likely have to be on the brink of being major league ready, somebody from a group that includes Nick Solak, Joe Palumbo, Brock Burke or Kolby Allard. The Rangers would likely have to include a third-tier prospect, too. And maybe a low-level raw toolsy guy.

While the Rangers can cobble together a reasonable offer, others can beat them there and without hurting their own farm systems significantly. But the Rangers may be more willing to give up one of their top four prospects than other clubs.

The opt-out: Possible problem

Arenado’s contract includes a clause that would allow him to take free agency after the 2021 season. That creates all kinds of issues for pursuers.

There are ways around this.

MLB can grant a 72-hour window to negotiate directly with the player about contract details. Often this is used to try to extend a player who might be traded but could be a free agent at the end of the season or after two seasons.

In the case of Arenado, the window would likely be used to find some kind of resolution on the opt-out. Usually that means spending more money. An example: Could a team buy out the opt-out entirely? Or could it spend a lesser amount to get Arenado to defer the buyout by another two seasons until after 2023? Both are possible options, though, with the current state of the free agent market, getting a player to give up something of that value could be prohibitive.

The no-trade clause: Possible problem

The complete no-trade clause gives Arenado all the leverage in dictating where he would consider playing. In Arenado’s case, winning is likely to be the driving force.

The Rangers may be on the way to restoring themselves to prominence, and adding Arenado would expedite that. He’d be taking over the mantle from Beltre, his professed idol. But the Rangers have had three consecutive losing seasons and play in perhaps the toughest division in baseball.

Atlanta has been to the playoffs in consecutive seasons. Los Angeles has been to the postseason seven consecutive times and to two of the last three World Series. It is also home, and the Dodgers were his favorite team growing up. Not that “home” seems to matter as much to players these days.

It appears the race for Nolan Arenado is on. The Rangers are in hot pursuit. The question is whether they can convince the Rockies and Arenado that they are the best match for both

Twitter: @Evan_P_Grant