After Chapman earned $8.05 million in 2015, the hard-throwing left-hander is due to get another sizeable raise this winter as he is eligible for arbitration for a third and final time. He will be a free agent after the 2016 season. With the Reds rebuilding, he became a pricey luxury to have in the back end of the bullpen.
"The Yankees have been involved for a while," Jocketty said. "Since the Winter Meetings, I've talked to [Yankees general manager Brian] Cashman a few times. It really picked up, actually, Christmas Eve. We've been on the phone back and forth the last four or five days.