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A few things should be noted. Martino’s report doesn’t make it seem like there are extensive talks between the two teams right now and it doesn’t seem there is anything that is close on a deal. It should also be noted that the Yankees would only get one year of control for Arenado but he could put them over the top against the Red Sox.
However, for a deal, I think that the Rockies should get Andujar, Frazier, Bird, and one of the top prospects that we mentioned. Maybe Torres could be in there or even another major league option (e.g. Sonny Gray or one of their outfielders) the they could flip to another team (like the Brewers, in the case of Gray, as they need some starting pitching).
The Rockies could even look to trade one of their current players in a deal to also help the team.
Obviously, it all depends on what kind of deal the Rockies would get in return for Arenado but they should do their due diligence and if they get a deal that helps them both at the major league level and at the minor league level (particularly at the high minor league level), they should not be afraid to pull the trigger on a deal.