With rumors swirling that the Phillies may be trying to deal left-hander Cliff Lee, Cashman lightheartedly shot down speculation that the Yankees would make another run at the hurler, whom they nearly acquired from the Mariners in July 2010 before he was traded to the Rangers.
"I'm not allowed to speak about another team's player," Cashman said, "but if there was a hypothetical mythical beast that makes like $25 million a year for the next 'X' amount of years that [hit] the market, we certainly could not participate in that type of level of financial talent."
Lee, who is 1-6 with a 3.95 ERA in 17 starts for the Phillies, is guaranteed $75 million over the next three seasons, and would impact the Yankees' ability to reach their $189 million payroll goal for the 2014 season. Cashman said that payroll objective is not affecting how the Yankees do business.
"It hasn't hampered us at all," Cashman said. "We should be able to get everything done we need to get done at that level anyway."
Cashman said that the trade landscape has "gotten quiet all of a sudden," and though he wouldn't completely rule out the chances of the Yankees making a trade before 4 p.m. ET Tuesday, Cashman said he is "not at all" optimistic because prices have been too high.
"There are some very motivated buyers that you've seen, and some very reluctant sellers," Cashman said. "It's always difficult to agree on price regardless. I'm very comfortable that I know we're getting our guys back from the DL. It's just trying to maintain health, stay healthy and get healthy, and keep going with what you've got."
Cashman's Yankees, of course, have already pulled off one notable July move -- bringing in outfielder Ichiro Suzuki from the Mariners on July 23 in exchange for Minor League pitchers D.J. Mitchell and Danny Farquhar, plus cash considerations.
"I'm glad we got him," Cashman said. "We've had a lot of stuff happen since we got him; with [Nick] Swisher being down, he's playing right field for us. It feels like he's been here. It's been an easy transition. He's happy to be here. It's good."