The two longtime rivals could play a series in London as soon as 2018 at former 2012 Olympics venue London Stadium, according to the Boston Herald.
"The Yankees have been at the forefront of suggesting that we bring the great game of baseball to London," Yankees team president Randy Levine said. "There have been some meaningful attempts to do so, and we are hopeful and confident that we can play there soon. Playing the Red Sox in London would be a unique and special event."
The Red Sox also are interested in taking their rivalry to England, though they say there are no firm plans as of yet.
"There's nothing to the story at this point," Red Sox president Sam Kennedy said. "However, if MLB decides that we are a good fit for it down the road, the team would love to do it."
While no official decision has been announced, the new collective bargaining agreement has opened the door for games to be played outside of North America.
"We made international play a part of our recent new labor agreement with the MLBPA," MLB spokesman Michael Teevan told ESPN's Andrew Marchand. "London specifically was covered for some time during the agreement, among other locations."
In October, long before the league and players' union agreed to their new collective bargaining agreement, commissioner Rob Manfred said he thought the sport could be "popular in London."
"I want to be really, really optimistic about it. I think it's an important thing for us to do. I think it's feasible in terms of facility. That's always question one, do you have someplace to play?" Manfred said. "I think we would be popular in London. I think we could sell the games. I think we could make money with the undertaking. So it's something that we'll continue to discuss with the players' association."
The Yankees lead the all-time series between the two clubs 628-440.