According to Rosenthal, an official announcement about the deal could come as early as Friday.
Rosenthal provided an update earlier Thursday in which he identified some of the pieces that could go to the Mariners.
Ken Rosenthal @Ken_Rosenthal
Sources: #Mets’ talks with #Mariners on Cano-Diaz reaching critical stage. NYM offer includes some but not all of Kelenic, Dunn, McNeil, Bruce, Swarzak. SEA believed to be weighing proposal against others. Also figure to include money to cover additional part of $120M owed Cano.
The New York Post's Joel Sherman reported the Mariners "asked particularly" about minor league outfielder Jarred Kelenic, right-hander Justin Dunn and second baseman Jeff McNeil.
Fancred's Jon Heyman noted Cano has a no-trade clause but that a return to New York might be enough for the eight-time All-Star to OK the move:
Jon Heyman @JonHeyman
Mariners. Mets talks r intense. Cano and Diaz would go to Mets in proposed deals. Combo of Bruce/Swarzak, Kelenic/Dunn to mariners. Still working on $ and players. But since Cano has full no trade, wants NY, and as said NYY not involved, would be surprise if didn’t happen to NYM.
Sherman also highlighted how Cano and Mets general manager Brodie Van Wagenen have a previous connection dating to Van Wagenen's days at Creative Artists Agency, where he helped secure Cano's 10-year, $240 million contract.
Acquiring Cano and Diaz would be one way for Van Wagenen to stamp his authority on his new role. The Mariners, meanwhile, are motivated shed payroll and strengthen their minor league system as general manager Jerry DiPoto "reimagines" his roster.
Given how many signs are pointing toward a deal, it looks like MLB is about to have its first blockbuster of the offseason.