Any potential agreement would send Stewart to Triple-A Scranton/Wilkes-Barre, per Olney.
Olney notes that the two sides are talking, but that they do not have an agreement yet. Olney also makes the point that Stewart would cost the Yankees little to nothing, and could be better than their current internal options.
Stewart recently had a falling-out with the Cubs, after series of tweets about the organization got the 28-year-old in trouble with the front office, and he was released shortly thereafter.
He has not recorded an at-bat in the major leagues yet this season, and he hit just .201 in 2012 with the Cubs. He has struggled since being traded for outfielder Tyler Colvin before the 2012 season.