This month, the two sides will resume discussions.
It's believed young Flyers centerman Sean Couturier is the main piece in a deal for Yandle, though Brayden Schenn's name has also popped up in discussions.
Coyotes GM Don Maloney has told TFP that he would be willing to trade Yandle if he received a great package in return that included a young star.
Couturier, 20, has one-year left on his three-year, entry-level contract. He collected four goals and 11 assists for 15 points in 46 games with the Flyers this season.
Yandle, 26, has three-years left on his current contract, which comes with an annual $5.25 million salary cap hit.
The Flyers are up against the salary cap for next season, which will be $64.3 million, and will be forced to make some significant moves this summer to not only fit their team under the cap, but make extra roster moves to strengthen the lineup.
As TFP reported on May 23, the Flyers are expected to buy out forward Danny Briere's contract this off-season.
Briere, 35, has an annual salary cap hit of $6.5 million for the remaining two years of his contract, but is owed only $5 million in actual salary -- $3 million next season and $2 million in 2014-15.
Flyers goalie Ilya Bryzgalov is also a buyout target, though he has seven-years left on his nine-year, $51 million contract.
Several other teams, including the Detroit Red Wings and Carolina Hurricanes, are also interested in Yandle, but neither are willing to move a young asset like Couturier.