Trade rumours swirled around Toronto Blue Jays closer Ken Giles for weeks leading up to the July 31 trade deadline and many felt it was only a matter of time before he was moved.

He almost was. 

According to The Athletic's Ken Rosenthal, the New York Yankees and Blue Jays made "significant progress" on a deal that would have sent Giles to the Bronx in exchange for three prospects. The Jays even informed other interested clubs they would be moving Giles before the Yankees backed off too late for the Jays to pursue deals with other teams, reports Rosenthal. 

Rosenthal adds the most logical explanation is the Yankees had concerns about Giles' nagging elbow issues that have followed him for much of the summer. Teams were given access to the right-hander's medical records and several clubs factored the injury risk into their offers. 

Though Giles remained with the Jays for the 2019 season, he is under team control through the end of next season and Rosenthal notes he could be moved in the off-season or later on in 2020. 

In 44 games this season with the Jays, Giles is 2-3 with 18 saves and an ERA of 2.05. He also has a career-best 14.9 strikeouts per nine innings (73 Ks in 44.0 IP). 

While the Jays did not move Giles, they were still active in the days up to and including the July 31 deadline. Toronto parted ways with veterans Marcus Stroman, Aaron Sanchez, Joe Biagini, Daniel Hudson, Eric Sogard and David Phelps.

The club sits at 55-84 heading into Tuesday series-finale with the Atlanta Braves at SunTrust Park.