The Angels' interest in Giambi, who was in a 1-for-26 slump and batting .268 going into last night's game, was before the recent controversy surfaced. It's likely the Angels, who have 30 homers, will wait to see what MLB does before pursuing a deal the Yankees would have to listen to very seriously.
The Angels have utility man Chone Figgins to move as well as backup catcher Jose Molina. And their farm system is loaded with young arms. However, if the Yankees have to eat a sizeable portion of Giambi's salary to make the trade they would want more back for Giambi. As for Giambi, he has a blanket no-trade clause. However, the Angels play 20 minutes from West Covina, where he grew up, and an equal distance from the Orange County beaches Giambi enjoys.
Figgins, who missed the first month of the season with a broken finger, would give the Yankees much-needed speed. The 29-year-old switch hitter can play third, second and in the outfield. Most important, he would push Robinson Cano for playing time at second if Cano's struggles across the first seven weeks continue. Figgins has appeared in 18 games, hitting .108 (7-for-65).
I'd definitely take this rumor with a grain of salt when considering the source. However, I think Cashman would make a deal in a heartbeat if he thought he could move Giambi's contract because he has been looking for a way to weasel out of this commitment for a few years now.
Realistically, though, don't hold your breath.