UPDATE: Yankees downplay the Rafael Soriano thing. Not that it doesn’t make sense.

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UPDATE: Not so fast on the Soriano stuff.  Mark Feinsand just spoke to a Yankees official and he downplayed the idea, saying “the price is going to be too high.”  And it will be too high, objectively speaking, for a setup man.  But it’s not like the Yankees (a) couldn’t use the help in the pen; and (b) could’t afford it.  And as some of you mentioned in the comments section, filling out the pen could help shake Joba Chamberlain free for a trade.  I mean, sure, the Yankees don’t see him as a starter anymore, but someone might, and he could form the basis of a package that could get a useful starting pitcher in return.

3:59 PM: The arms race is getting out of control. The Red Sox get Jenks?  Fine. The Yankees want Rafael Soriano. Mark Feinsand of the Daily News:

According to a source with knowledge of the Yankees’ thinking, the Bombers are “exploring” the option of signing Soriano, the All-Star closer who pitched last year for the Rays. With plenty of money to spare in the wake of Cliff Lee’s return to Philadelphia, the Yankees have held preliminary discussions with Scott Boras about Soriano, the source said.

Soriano used to be the best setup guy in baseball. In New York he’d have that role again. And, if it was a three-year deal, he could be Mariano Rivera’s heir.

In other news, if the Yankees did get Soriano — and if the Red Sox don’t find a sucker to take Papelbon — they and the Sox would have four of the top eight closers — at least in terms of saves — from the 2010 season on their rosters.  Which is cool with me because (a) who cares about saves; and (b) both the Jenks and Soriano signings would address legitimate needs for each team, but you figure a lot of people will freak out about this.

Brewers designate Boone Logan for assignment, recall Freddy Peralta

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The Brewers announced on Tuesday that reliever Boone Logan has been designated for assignment and starter Freddy Peralta has been recalled from Triple-A Colorado Springs. Peralta will start on Tuesday evening against the Pirates, opposite Jameson Taillon at PNC Park.

Logan, 33, has struggled this season, serving up seven runs on 15 hits and 10 walks with 14 strikeouts in 10 2/3 innings. The lefty inked a one-year, $2.5 million contract with the Brewers in January, but he missed the first six weeks of the season with a triceps injury.

Peralta, 22, made his major league debut last month, making a stellar start against the Rockies at Coors Field. He struck out 13 batters over 5 2/3 scoreless innings. He made another, less successful start against the Twins before heading back to the minors. With Colorado Springs, Peralta owns a 2.75 ERA with 84 strikeouts and 27 walks over 59 innings.