According to ESPN's Jeff Passan, "multiple teams" have called the Rockies to express interest in Arenado, but the talks "went nowhere."
The Rockies signed Arenado to an eight-year, $260 million contract last year, but since he has an opt-out clause after the 2021 season, it is possible the Rockies could lose him to free agency.
Given what he has accomplished over the past five seasons, the argument can be made the Arenado is the best player in baseball regardless of position.
The 28-year-old has been named to five All-Star teams in a row. He also won four Silver Sluggers at third base and has won the National League Gold Glove at third in each of his seven MLB seasons. Arenado is a three-time Platinum Glove winner as well, which is given to the best all-around defender in the majors.
Playing half his games at Coors Field has undoubtedly helped Arenado's numbers just like previous Rockies stars such as Larry Walker and Todd Helton, but his stats are undeniable. Over the past five campaigns, Arenado has never hit worse than .287 or clubbed fewer than 37 home runs and 110 RBI.
That includes three seasons with at least 40 home runs and three seasons with at least 130 RBI. He led the NL in both homers and RBI in 2015 and 2016, and last season he hit a career-best .315 with 41 home runs and 118 RBI.
Despite those numbers, Arenado has never finished better than third in the NL MVP voting, but he has been eighth or better in five consecutive seasons. The Coors Field stigma and the fact that Colorado only made the playoffs in two of those five seasons likely played into it.
Trading for Arenado would be a something of a risk for any team for multiple reasons, the biggest of which is the opt-out clause that could allow him to become a free agent after two more seasons.
His home/road splits differ significantly. While he has hit .324 with 129 home runs and 446 RBI during his career at Coors Field, he has hit just .265 with 98 homers and 288 RBI otherwise despite appearing in one more road game (516) than home game (515).
Even without Arenado, the Rockies have a fairly stacked lineup that includes Charlie Blackmon, Trevor Story, Daniel Murphy and Ian Desmond. Hitting never has and likely never will be an issue for Colorado.
The Rockies' biggest need is starting pitching that can thrive in the thin Colorado air. If the Rockies believe they can land such starters in an Arenado trade, then the possibility is at least worth exploring.