UPDATE (12:14 am ET)-- The Dodgers and Diamondbacks agreed to a trade that would send Jon Garland to the Dodgers minutes before the deadline. The players the Diamondbacks will receive is not yet known.
SI.com's Jon Heyman is reporting that the Yankees and Rockies are in talks with the Diamondbacks over Jon Garland. The problem with moving Garland now is the amount of money remaining on his contract. Garland has a 10 million dollar mutual option, which holds a buyout 2.5 million dollars or 1 million, depending on which side declines the option.
In his current contract, it also states that if he is traded in 2009 and ends up being a Type-A free agent, the team that acquires him cannot offer him arbitration.
In his last six starts, Garland is 3-1 with a 3.89 ERA.