The Boston Red Sox are out of the Giancarlo Stanton sweepstakes.

Craig Mish of SiriusXM reported the Red Sox are no longer engaged in trade talks with the Miami Marlins for Stanton, noting they were a long shot all along.

Stanton, 28, is the reigning National League MVP. He hit .281/.376/.631 with 59 home runs and 132 RBI 2017, making him the first player with at least 59 homers since 2001.

Despite being the face of the Marlins franchise and the most feared slugger in baseball, Miami is looking to move Stanton for financial reasons. He's owed $295 million over the remainder of a 13-year, $325 million contract he signed in 2014. The deal runs through 2028 and pays him at least $25 million each season.

The Marlins' new ownership group, spearheaded by former Yankees shortstop Derek Jeter, is looking to cut payroll as it rebuilds the franchise. Jeter told reporters last month the Marlins are "an organization that’s been losing money for quite some time, so we have to turn that around."