Colon, 41, has performed well in his first season with the Mets, producing an 8-8 record and a 3.99 ERA in 18 starts, and may be ideal for a contender looking for a sturdy middle-of-the-rotation arm.
He is making $9 million this season and $11 million in 2015 as part of the two-year deal signed on Dec. 16.
Although general manager Sandy Alderson has suggested a surplus of arms can quickly be depleted through injury, the Mets do have an excess at the position. Jonathon Niese, Zack Wheeler, Dillon Gee and Jacob deGrom all remain under the Mets' control for multiple seasons. Matt Harvey is due to return from Tommy John surgery next year. And the Mets also have highly regarded prospects Noah Syndergaard and Rafael Montero in Triple-A.
The Mets are not yet believed to be engaged in serious talks about Colon, and it is not a foregone conclusion that he will be dealt, but a major league source predicted dialogue would increase in the next week. An August trade remains possible, too, via a team making a waiver claim.
Colon is due to start Friday's second-half opener for the Mets at San Diego. With Niese due to return from the disabled list next Monday, the Mets are planning to reassign current starter Daisuke Matsuzaka to the bullpen.
The Mets' wish list in trades includes an upgrade at shortstop over Ruben Tejada and a power-hitting left fielder to join Juan Lagares and Curtis Granderson as the primary outfielders, according to industry sources.