The Reds and Yankees have held trade talks regarding All-Star second baseman Brandon Phillips, confirmed via an industry source on Wednesday night.

Jon Heyman of first reported that New York declined a trade offer for Phillips in exchange for outfielder and potential leadoff hitter Brett Gardner. Heyman also reported that Phillips asked for his contract to be re-opened to give him more money to agree to a trade.

An source revealed the Yankees are one of the teams listed in Phillips' limited no-trade clause. The Reds would need his approval before they could deal him to the Yankees.

New York has a void at second base after losing out on re-signing Robinson Cano, who agreed to a 10-year contract with the Mariners. The Reds, who expect to lose free agent Shin-Soo Choo, are in need of a center fielder and leadoff hitter with a short-term contract that can let them take their time to develop prospect Billy Hamilton.