New York Mets manager Bobby Valentine insists he's still gazing hopefully toward the future -- the near future, as in this year -- and the upcoming pennant race Valentine says his team can somehow join despite a 12½-game deficit in the National League East.

Realistically, though, the Mets' future will be shaped by the July 31 trading deadline, and the choices made by general manager Steve Phillips. He has options and marketable assets on his roster, but Phillips' first decision has to be whether to unconditionally surrender to the Braves and to the NL's wild-card rivals.

	Bobby Valentine doesn't seem ready to go down without a fight.

If Phillips is ready to flip the calendar to 2003, then he'll likely trade Edgardo Alfonzo to the Dodgers, as has been rumored for days. There's also considerable interest in Roberto Alomar, who's hitting .390 in July, and Mo Vaughn, who, according to the New York Post, has attracted the attention of the Red Sox.

Phillips has leverage with his pitching staff -- most notably Al Leiter, who'll be a free agent after the season. The left-hander swore he was ready to test the market, and even become a Yankee, following the Mets' decision to break off talks for a contract extension in June.

But the dialogue between the two sides has since re-opened, which diminishes the chances Leiter will be dealt. The Diamondbacks, Cardinals, Red Sox and Mariners have all called, but Leiter could sign a pre-emptive two-year, $20 million deal within the next 10 days.

So the question remains, with the Mets all but invisible, just how radically will they re-arrange their roster? Depends on whom you ask.

Valentine, for instance, refuses to acknowledge a crisis. He told reporters Sunday, "I don't think we're in that big a hole. Plenty of season left. Just play it. All our best baseball's ahead of us."

Of course, managers are paid to build such a wall of optimism, but time is running out on the Mets. They haven't won a series since June 23 against the Royals, and are perilously close to last place in the East.

The pressure is on both Valentine and Phillips, both of whom have been issued votes of confidence from owner Fred Wilpon. But this is the second consecutive year of underachievement at Shea, and Phillips, in particular, could be reluctant to again re-make a team he overhauled just six months ago, lest it appears he guessed wrong on Vaughn, Jeromy Burnitz, Shawn Estes and Roger Cedeno.

Therein lies the intrigue behind the Vaughn-to-Fenway rumor. Trading Mo would lighten the Mets' payroll, and make room for Mike Piazza's inevitable conversion to first base in the next year or two. But are the Mets ready to admit failure in this expensive gamble?

Vaughn, for one, seems open to such a scenario.

"The only thing about being traded to Boston is I'm very familiar with that situation. It's not like going somewhere I don't know," he said Sunday. "But I'm here and working hard for this situation."

The situation with Alfonzo is slightly more complicated, because the Mets are contending with dueling agendas. One on hand, Alfonzo has made it clear he wants to remain with the Mets, despite free agency that looms this winter. And the Mets like Alfonzo enough to quash a prospective trade last year with the Phillies for Scott Rolen.

	“	The only thing about being traded to Boston is I'm very familiar with that situation. It's not like going somewhere I don't know. But I'm here and working hard for this situation. ”
		— Mo Vaughn on recent trade rumors

But that's the not the same thing as actual progress: Alfonzo reportedly turned down a three-year deal worth $18 million, seeking a longer-term contract. The Mets are unlikely to budge, which raises the possibility he'll be dealt by July 31.

The leading candidates are the Dodgers, who, despite climbing back into first place in the NL West over the weekend, are seeking to upgrade their infield offense. Specifically, Los Angeles is looking to replace third baseman Adrian Beltre and second baseman Mark Grudzielanek, which is why the Dodgers inquired about both Alfonzo and Alomar.

The Mets, however, aren't quite as interested in such a large swap, and in fact, seem to be changing their minds altogether about Alomar. He hit only .268 in the first half of the season -- nearly 40 points lower than his career average -- and failed to make the All-Star team for the first time since 1989.

Yet, Alomar has shown enough second-half energy for the Mets to re-think their plans to deal him. Some of that patience comes from his relatively modest salary, just $8 million in 2002, and the club option for at another $8 million in 2003.

Still, the Mets have to weigh Alomar's recent hot streak against the current backdrop of mediocrity -- he didn't hit when it mattered. Same goes for Vaughn and Burnitz, all of whom sabotaged an experiment that -- believe it or not -- was once so ambitious, Phillips really thought he'd constructed a pennant winner.

Now? All that's left is sweating out the mini-drama of the next two weeks.

Will the Mets begin disassembling? And if so, will Phillips and/or Valentine be held accountable?

Or will the Mets take one last run at the impossible, hoping to close enough ground on the Braves to make September meaningful?

We'll know in about two weeks.

Bob Klapisch of The Record (Bergen County, N.J.) covers baseball for ESPN.com.