Believe it or not, the final decision not to go through with a deal that was on the table - one that would have sacrificed Hughes, Melky Cabrera, 23-year-old Double-A righthander Jeff Marquez and 22-year-old A-ball third baseman Mitch Hilligoss - was based on money.
Once Andy Pettitte announced he was returning to the fold for $16 million, it meant the Yankees had committed $408.4 million this winter to retain six players. The acquisition of Santana would have meant tacking on another $125 million to that figure, and Cashman, who never wanted to do the Santana deal in the first place, blanched at the prospect of adding another $20 million to a payroll that was already on the cusp of $200 million, again. In this respect, the timing of Pettitte's decision to return - while initially seen as giving the Yankees additional leverage in their dealings with the Twins on Santana - actually gave Cashman the "out" he needed.
Bad as it was to be sacrificing Hughes, Cashman told the Yankee high command, look at what the payroll was going to be now if they added $20 million-$21 million for Santana on top of the $16 million they just tacked on with Pettitte. At that point, there was considerable internal debate as to whether to proceed with Santana even after the Twins had backed off from Kennedy and picked Marquez, who is regarded as a second-tier pitching prospect, and Hilligoss, a Wade Boggs-type singles-hitting third baseman who did have a 35-game hitting streak last season and led the South Atlantic League in hits.
In the end, Cashman prevailed, convincing Hank and Hal Steinbrenner of something he could never have done with their dad - that trading for Johan Santana was simply too expensive for the New York Yankees.