8:07 am: Upton used his no-trade clause to block a deal that would have sent him to Seattle for four of the team's top 10 prospects (MLBTR). The Mariners were 'clearly overparing,' and they're fortunate the trade fell through, said a team executive (Crasnick, ESPN).
2:30 pm: The way I understand it, the D-Backs are shopping Upton and Kubel at the same time, to the same teams, and whichever player nets the better value, I think Arizona will pull the trigger. Clearly, Upton will cost a collection of top prospects and some big-league talent, while I've been told Kubel can be had for two pitching prospects (so long as the other team pays Kubel's salary).
In this scenario, I don't see how Upton is had with a low-ball offer. Arizona doesn't have to trade him. Frankly, they don't have to trade anyone, but they should. They are almost certainly asking for one of Zach Wheeler, Travis d'Arnaud or Matt Harvey, and I don't see how Sandy Alderson can pay less unless all other teams pull out and Arizona is desperate to make a deal, which is probably what Heyman's team source is referring to.
Personally, I wouldn't deal any of those top prospects for Upton. However, I would deal pretty much anyone else, including newly acquired Noah Syndergaard, and I might consider Jon Niese, if they overall deal made sense. I don't think the Mets have a lot of interest in Kubel, of course beggars can't be choosers....
9:50 am: Basically, Arizona was willing to accept Seattle's top position prospect and top pitching prospect, plus two big-league ready arms (that may be best used in the bullpen). I'm not sure what that would look like from the Mets, but it seems like a lot to get a guy who hit just 17 HR each of the last two seasons.
The Braves still seem like the best fit for a deal with Arizona, because they have the shortstop and pitching prospects it would take to get him, and their farm system can take the hit at those positions.