UPDATE (8:02 p.m.): Vernon Wells suggested in a tweet Sunday night that he was headed to the Yankees. And CBS Sports' Jon Heyman reported that the deal was basically done, save a few minor hurdles like MLB commissioner Bud Selig's approval.
Wells has a no-trade clause and would have to approve the trade, and his tweet indicates that he has likely given it his blessing.
Wells is owed $21 million for each of the next two seasons. Fox Sports' Ken Rosenthal reported that the Yankees will pay less than $10 million of the $42 million owed to Wells, and the Angels will pick up the rest of the tab.
The New York Yankees are in talks with the Los Angeles Angels to acquire right-handed-hitting outfielder Vernon Wells, according to Yahoo! Sports' Jeff Passan.
The deal "could be done" on Sunday, Passan is reporting, and while it is unknown whether he would waive his full no-trade clause, Wells is excited about the possibility of playing for the Yankees, according to ESPN's Buster Olney.
The 34-year-old hit just .230 with 11 home runs and .682 OPS last season. He has two years and $42 million left on the seven-year, $126-million he signed with the Blue Jays in 2007, but the Angels would pick up "a lot" of that money, according to Passan.
Though Wells has become notorious for being one of MLB's most overpaid players, the Yankees are desperate for hitting, especially in the outfield. The loss of Nick Swisher to free agency and Curtis Granderson to injury has depleted New York's starting outfield to Brennan Bosch, Brett Gardner and Ichiro Suzuki.
Wells is a three-time All-Star and three-time Gold Glove award winner who has moved from center to left field. He hit 25 homers in 2011 and made his last All-Star team when he hit 31 in 2010.