This one has gone back and forth a few times in the past 48 hours or so.
Mark Feinsand is reporting that Michael Young would waive his no-trade clause for a trade to the Yankees.  Of course, that’s after previous reports that he would agree to a trade only to the Rangers, then maybe to the Red Sox, then maybe not to the Red Sox, and even a report that he might not waive his no-trade clause for anyone.
A source just told me that the Phillies have “nothing” imminent on Young, but with the trade deadline a little more than an hour and a half away, I’d guess that situation could change in a hurry.
Oh, and by the way, former Yankees prospect Ian Kennedy is on the move again. He’s been reportedly traded to the Padres. Kennedy still has two years of arbitration remaining, which likely made him a more valuable trade commodity than Phil Hughes.
UPDATE, 3:22 p.m.: USA Today’s Bob Nightengale reports that the Phillies are “skeptical” they’ll move Young.  Could be a message to gain leverage and set expectation that they’re willing to hold onto Young, but I was told not long ago that there was nothing legitimately close.
Also, another former Yankee is on the move: Outfielder Justin Maxwell — who I don’t think ever actually played in the big leagues with the Yankees — is heading to the Royals from Houston. 
UPDATE, 3:39 p.m.: The Orioles have reportedly improved their rotation by trading for Astros starter Bud Norris.