From NorthJersey.com:

The Philadelphia Phillies are expected to chase hard after Soriano, the top slugging free agent, but they also would consider sending a package including starter Gavin Floyd to the Bronx in exchange for Sheffield, whose $13 million option should be triggered by Sunday night's deadline. ...

Floyd, 23, also is an intriguing pitcher for the Yanks, who would need to fine-tune the right-hander's development. Though he possesses a big curveball, a low-to-mid 90 mph fastball and change-up, Floyd is said to have his detractors in Philadelphia since he hasn't progressed quickly.

Floyd was the 4th overall pick in the 2001 draft. From 2004 through 2006, he has pitched in 24 games, starting 19. His record is 7-5 with a 6.96 ERA. I'm sure the prospect anaylsis guys in the Yankees blogosphere will be all over this one shortly. :)