MLB

DEADLINE DAY

Today is the day. Either the Twins will trade Johan Santana to the Yankees, or the Yanks are pledging to withdraw from the negotiations.

Hank Steinbrenner told The Post last night that the Yankees have made their best offer to the Twins and Minnesota must decide today if it is going to send the two-time Cy Young winner to The Bronx in a deal for Phil Hughes, Melky Cabrera and a mid-level minor leaguer.

The Yankees are concerned about being trapped in an endless loop of talks that could stymie their attempts to pursue other options, including Oakland ace Dan Haren. To that end, the Yanks are establishing today as the deadline to agree on a deal. If not, they are planning to move on to other issues and move forward with Hughes and Cabrera still in pinstripes; Steinbrenner said he has much respect for Hughes and Cabrera.

“Santana is the only player in the majors that I would trade these players for,” Steinbrenner told The Post. “I’ve given (the Twins) to (today) to make their decision.

“We’ve made them a good offer, it’s up to them to take it or leave it. I don’t low-ball and I don’t high-ball. This is a good offer. I feel good about our chances.”

The Yankees insist they will not in clude, as the Twins want them to, either pitcher Ian Kennedy, outfielder Austin Jackson and perhaps one of two or three other cherished prospects as the third piece behind Hughes and Cabrera. The player is expected to be more along the lines of shortstop prospect Alberto Gonzalez or pitcher Jeffrey Marquez. Thus, the Yanks want Minnesota to decide if this package is good enough. Or else, the Yanks claim, they will move on without Santana, even if it means he goes to the Red Sox.

Of course, the Yanks also said they would not negotiate with Alex Rodriguez once he opted out of his contract, only to later relent and agree to a 10-year deal.

In the Santana matter, however, Steinbrenner said he is not going to allow the Twins to shop offers back and forth between the Red Sox and Yankees all week at the Winter Meetings in Nashville, Tenn.

“I’m not going to be played against the Red Sox,” he said.

There is one other factor that could force the Twins to act, and act with speed. Santana has a full no-trade provision, and there have been reports the left-hander has informed the Twins that if he is not traded in the offseason, he will not allow himself to be dealt in season.

Minnesota had been using the potential to deal Santana in July as leverage in talks. But Santana apparently wants a deal now with an extension in the seven-year, $150 million range or simply will wait to negotiate with all teams as a free agent after the 2008 campaign. Santana’s agent, Peter Greenberg, did not immediately return calls.

The Yanks believe the presence of Hughes should spur Minnesota to act. The Twins knew quickly that the Yanks would not surrender Joba Chamberlain, and said the Yanks must, therefore, package Hughes and Cabrera together. The Yanks initially offered Kennedy and Cabrera before agreeing to include Hughes.

Hughes could be a future ace, and this is an offer that “should get the deal done,” Steinbrenner said. And if the trade doesn’t happen, Steinbrenner said, “We’re going to be fine no matter what. I love Phil Hughes.”

The Red Sox have offered a package that includes Jon Lester, Coco Crisp and minor league infielder Jed Lowrie. The Yankees view their offer as superior. According to one source, the Red Sox will not include Jacoby Ellsbury, whom the Twins covet, but ESPN reported yesterday that Ellsbury would be included, but not with Lester.

The Red Sox could put Clay Buchholz in the deal and not Ellsbury. Most scouts prefer Hughes over Buchholz. Boston may be trying to make sure the Yanks pay as high a price as possible.

With Santana, the Yankees’ rotation would project as excellent, but either way, Steinbrenner said the rotation would be strong over the long haul.

The Mets also want to believe they are still in play for Santana, hoping the high side of Carlos Gomez makes their potential package attractive. However, the feeling around baseball has been that if the Mets do not include Jose Reyes – which they said they will not – then they will not have enough of a prospect base to land Santana. The Mets also plan to be ag gressive on Haren and Baltimore ace Erik Bedard, both of whom will be under discussion in Nashville.

kevin.kernan@nypost.com