New York ? The Alex Rodriguez trade is “dead,” or so the Boston Red Sox say. The Texas Rangers and the shortstop still have hope.

Just hours after commissioner Bud Selig ended talks to restructure A-Rod’s $252 million contract Thursday, the Red Sox said Manny Ramirez would not be sent to Texas for the AL MVP.

“The proposed trade between the Boston Red Sox and the Texas Rangers is dead,” Red Sox president Larry Lucchino said.

The Rangers, though, believed they could rekindle the swap of the two highest-paid players in baseball.

“There is a likelihood the deal is dead,” Texas general manager John Hart said. “But at the same time, we haven’t issued a statement that it’s completely dead.”

Rodriguez offered to reduce salaries in his contract by $12 million in exchange for increased marketing and logo use rights, agent Scott Boras said. He also would have had right to become a free agent after the 2005 season, a baseball source said on the condition he not be identified.

The proposal from the Red Sox that the players’ association rejected a day earlier would have cost Rodriguez $28 million, according to the team’s evaluation, and $30 million, according to the union’s analysis, Boras said.

“We’re going to be in communication with the Rangers as to their discussions with the Red Sox,” Boras said. “Every indication we had was that the parties would continue to talk.”

Rangers owner Tom Hicks will probably speak to the Red Sox to try to work out an agreement after all, Hart said.