Tuesday’s blockbuster trade between the Yankees, Diamondbacks and Tigers has seemingly taken New York out of the running for Blue Jays’ pitcher Roy Halladay.

That has led to rampant speculation that the Phillies are now in the best position to pull off the trade that so nearly happened last July.

When asked about the possibility of acquiring a hypothetical unnamed elite pitcher, GM Ruben Amaro Jr. responded to Philadelphia Inquirer Phillies beat reporter Andy Martino:

“Is there any way possible? I guess there is,” Amaro said. “Is there a likelihood of us getting involved in something that’s that big? Probably not.”

Todd Zolecki of MLB.com said in a piece Wednesday that an in “an informal poll of baseball personnel this week at the Winter Meetings, folks think the Phillies have as good a chance as anybody of getting him.”

“They have the pieces,” one AL executive told him. “I would say the Phillies and Red Sox have the talent to make it happen more than the other teams out there.”

If the trade were to happen, Zolecki says, the price must drop. As we all vividly remember, the Blue Jays wanted Kyle Drabek, J.A. Happ, Domonic Brown and Anthony Gose for Halladay during the team’s negotiations before last season’s July 31 trade deadline.

Another stumbling block to acquiring Halladay is his price tag and the Phillies’ self imposed $140 million team salary cap. Halladay is set to make $15.75 million in 2010 and the Phillies are very close already to that salary cap.

However, that could be where Joe Blanton comes in. When the Winter Meetings started on Monday, there were very loud whispers that the Phillies had put Blanton up on the trading block for potential trade partners to examine. The Phillies were reportedly shopping him in order to free up a serious chunk of money in order to acquire a couple elite relievers for the bullpen. But there could be more to it than that.

Blanton is arbitration eligible this year, and after making a little over $5 million last season, he is set to make between $7-8 million this year. So if the Phillies were able to include him in the deal, it would allow them to part with fewer prospects, perhaps Happ and Michael Taylor instead of Brown, it would provide the Blue Jays with a solid major league ready starter (or two), and it would free up some money so that the team could better afford Halladay.

Halladay has reportedly indicated to Toronto’s brass that if he is not traded before Spring Training, he will refuse to waive his no-trade clause for any deal and they would effectively lose him. That is likely because of what he went through last season and the obvious affect it took on him. In the first six games after the trade deadline, Halladay went 2-4 with an ERA of 4.71. In those four losses, he had an ERA of 6.58.

That could work out in the Phillies favor, as the Blue Jays will be under increased pressure to deal Halladay, who will be an unrestricted free agent after the season. With the Phillies and Red Sox likely the only two teams in serious contention for his services, and the Blue Jays loathe to trade arguably the best pitcher in the majors to their direct competition, the Phillies are absolutely in the best position to land Halladay.

However, it will ultimately come down to Toronto’s asking price. With the acquisition of Cliff Lee to a starting rotation that boasts Cole Hamels, Blanton, Rookie of the Year runner up Happ and likely either Jamie Moyer or Kyle Kendrick,  the Phillies are under no pressure to get this deal done.

In the end, as a cynical Philadelphia fan, I don’t think the deal gets done. But hey, crazier things have happened…..