MIAMI -- The Giancarlo Stanton trade derby has become a two-team race, with the Giants and Cardinals established as the front-runners, according to a source, while the Dodgers continue to monitor the situation.
As of late afternoon Tuesday, the Marlins had not finalized all the particulars on potential trade packages for Stanton, who has a full no-trade clause and must sign off on any proposed deal.
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The Dodgers and a small group of other clubs have touched base with the Marlins, but they have not engaged in serious trade discussions.
In the past few days, progress has been made in talks with the Giants and Cardinals, but it remains unclear if a deal could be made before the Winter Meetings begin on Monday in Lake Buena Vista, Fla.
"There is nothing to update," Derek Jeter, the Marlins' chief executive officer, said on the Marlins Hot Stove radio show Tuesday on 940 AM WINZ, and streaming on Marlins.com/Podcasts. "I think the best way to answer it is, listen, we will explore every option out there to make our organization better. There have been no decisions. We have not made many decisions whatsoever on the baseball side. So, we're still gathering information. As soon as there's something to share, I'll be more than happy to share it."
MLB.com's Jon Paul Morosi recently reported Miami had the framework for a deal with San Francisco and St. Louis for the National League MVP Award winner, who paced the Majors with 59 home runs in 2017.

"He's arguably the best player in the game," Jeter said. "He just won the MVP Award. He had one of the greatest seasons that I've seen a player have in the last 20-plus years."
Consummating a trade for Stanton is complicated due to the nature of the 13-year, $325 million contract the slugger signed after the 2014 season.
Stanton's salary rises to $25 million in 2018, and there's $295 million left on the final 10 years. The richest contract signed in MLB history also has an opt-out clause after the 2020 season.
Coming off a 77-85 season and under new ownership, the Marlins are open to trading their all-time home run leader (267) as part of redirecting their roster and attempting to build a sturdy franchise from the bottom up.
Miami has a shortage of pitching depth, and St. Louis has some high-end prospects. The Marlins have had interest in right-handers Jack Flaherty and Sandy Alcantara. According to MLBPipeline.com, they rank third and ninth, respectively, among the Cards' Top 30 prospects.
If they acquire Stanton, the Cardinals also may be open to including either outfielders Randal Grichuk or Stephen Piscotty in a deal.
The Giants' farm system is not considered as deep as the Cards', but they have a number of quality prospects. Right-hander Tyler Beede, rated as San Francisco's No. 3 prospect, has been mentioned in trade discussions, as have been outfielder Heliot Ramos (No. 4) and outfielder/first baseman Chris Shaw (No. 2).
Stanton trade speculation has been among the top Hot Stove storylines, and players from the Giants and Cardinals are using social media to try to convince the Marlins slugger to join their organizations.
San Francisco outfielder Hunter Pence and St. Louis second baseman Kolten Wong each took to Twitter on Tuesday to make their recruiting pitches.