Padres Passed Up Deal for Borders : Baseball: Series MVP was part of a bid for Tony Fernandez, but team rejected the Jays’ offer because of finances, sources say.

The Padres could have acquired the Most Valuable Player in the World Series and also solved their catching woes, but they instead rejected a trade that would have sent shortstop Tony Fernandez to Toronto for catcher Pat Borders, according to a source.

The Padres turned down the offer, according to an official familiar with the trade talks, simply because of finances. Although Borders batted a respectable .242 with 13 homers and 53 RBIs and caught more games than any other American League catcher, the Padres feared that Borders would get more than $2 million in arbitration.

“His salary was a huge drawback,” said the official.

Said Joe McIlvaine, Padre general manager: “They were one of the teams we talked to, but I was basically limited to taking on only non-salaried guys.”

Instead, the Padres acquired pitcher Wally Whitehurst, outfielder D.J. Dozier and, according to a source, minor-league catcher Raul Casanova.

Casanova, 20, the source said, has been identified as the “player to be named later.” The Padres can not announce Casanova until after the Rule 5 draft is completed Dec. 5.

‘I won’t confirm or deny that,” McIlvaine said.

Casanova hardly is the player that dispels the notion in the Padres were swindled in the financially induced trade.

Casanova, 5 feet 11, 192 pounds, has not been able to advance past Class A in his three seasons with the Mets. He batted .270 with nine doubles, one triple, four homers and 27 RBIs for Kingsport last season. He batted .243 with no homers and nine RBIs in 1991 for the Gulf Coast Mets, and .056 in five games with Kingsport. Casanova, an original eighth-round draft pick in the 1990 June free agent draft, likely will play for double-A Wichita this season.

The Padres, for the first time since 1987, will need a starting catcher. All-Star Benito Santiago filed for free agency and McIlvaine said they will not make an arbitration offer to retain him. The Padres will have to go with Dan Walters, who made his major league debut this past summer, and journeyman Tom Lampkin.

It’s unknown where Santiago is headed, although the expansion Florida Marlins still seem possible. The Blue Jays, one official said, no longer are interested in Santiago.