The New York Yankees have no intention on joining the bidding for Philadelphia Phillies left-hander Cole Hamels until the club’s asking price for their ace diminishes "drastically," reports Buster Olney of ESPN.

Unless Philly's asking price for Cole Hamels diminished dramatically, the Yankees have no intention of joining the bidding, sources say.

— Buster Olney (@Buster_ESPN) July 4, 2012

It was reported earlier this week that the Phillies began calling around to potential suitors attempting to gauge interest in Hamels. According to Olney, Philadelphia’s asking price for Hamels would be four-to-five prospects, some of them being "A-plus."

This asking price would apparently need to come down before the Yankees would become involved. It’s not surprising to hear this, as several other teams would likely be hesitant to surrender such a haul for Hamels, who’s set to hit the open market following the season.

Phillies general manager Ruben Amaro Jr. has downplayed reports of selling, and Matt Gelb of the Philadelphia Inquirer doesn’t expect the team to trade any significant pieces until at least mid-July, when they are hoping for the return of Roy Halladay and Ryan Howard.

However, Danny Knobler of CBSSports.com reported yesterday that the Phillies could begin selling "soon" if they continue losing. Philadelphia has lost seven of its last 10 games, leaving the club eight games out of the final wild-card spot.

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What type of return do you expect the Phillies to get for Hamels?

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