A source familiar with the situation has confirmed that the New York Yankees have concluded their pursuit of high-priced free agents.
This leaves in-demand players like Pete Alonso and Alex Bregman among the 164 free agents remaining in the market, with just 37 days left until pitchers and catchers report for spring training in Florida and Arizona on February 14.
Teams such as the New York Mets, San Francisco Giants, Toronto Blue Jays, and Boston Red Sox are still actively seeking new talent.
However, the Yankees have completed their roster moves following the departure of Juan Soto, who joined the Mets for 15 years at $765 million just before the Winter Meetings commenced in Dallas in early December.
Since that time, the Yankees secured pitcher Max Fried with an eight-year, $218 million contract, and first baseman Paul Goldschmidt for one year at $12.5 million. Additionally, they re-signed reliever Jonathan Loáisiga for one year at $5 million.
The Yankees also acquired outfielder Cody Bellinger from the Chicago Cubs for $25 million this season, which includes a player option for $22.5 million next year, and brought in closer Devin Williams from the Milwaukee Brewers with an $8.4 million deal for this year while he becomes a free agent next season. Furthermore, the Yankees traded backup catcher Jose Trevino to the Cincinnati Reds for reliever Fernando Cruz and another backup catcher, Alex Jackson.
“We’ve done some heavy lifting with [Fried], with Devin Williams, with Bellinger,” Yankees general manager Brian Cashman recently remarked. “But there’s more [light] lifting to do.”
The Yankees are still on the lookout for a mid-tier left-handed reliever and are considering trading starter Marcus Stroman, who is on an $18.3 million contract. If Stroman logs 140 innings this season, his contract will automatically extend for another $18.3 million next year.
This situation likely rules out the possibility of signing Japanese star pitcher Roki Sasaki, who may be headed for a West Coast team; the Giants, Los Angeles Dodgers, and San Diego Padres are reportedly in the mix. Sasaki can sign with a Major League Baseball team between January 15 and January 24, or he must return to the Chiba Lotte Marines, his original Nippon Professional Baseball team.
Currently, the Yankees have $270.6 million allocated to 13 players for luxury tax purposes, ranking second in spending thus far, behind the Los Angeles Dodgers at $336 million, although the Dodgers have committed payroll to 19 players. The Yankees were positioned third in spending for 2024, with the Mets in between them.
The Yankees were defeated by the Dodgers in the World Series in five games in 2024, and as they remain a strong contender in the cost-conscious American League, they are among the favorites to return. However, they are also dealing with the losses of Anthony Rizzo, Gleyber Torres, Alex Verdugo, Clay Holmes, Tommy Kahnle, Jon Berti, Nestor Cortes, and Trevino, alongside Soto.
This offseason, American League teams have been less active in spending compared to their National League counterparts, particularly the NL West clubs—excluding the Colorado Rockies, who have only spent $119.4 million thus far—are striving to keep pace with the Dodgers’ expenditures. Similarly, in the NL East, the Mets ($252 million), the Philadelphia Phillies ($267 million), and the Atlanta Braves ($185.7 million) are all making significant investments.
In the AL East, the Red Sox ($182.6 million) and Blue Jays ($163.1 million) have substantial payrolls but have not yet made notable additions in free agency this offseason. The Baltimore Orioles ($102.9 million) and Tampa Bay Rays ($62.9 million) have similarly refrained from major expenditures; the Rays will have to play this season at the Yankees’ 11,026-capacity spring training facility due to storm damage to Tropicana Field, ranking them 28th in MLB in spending.
Even the Houston Astros, the Yankees’ most prominent rivals in recent years, have reduced their spending this season, currently holding a $183.1 million payroll, significantly lower than last season’s $264.8 million.
Meanwhile, the Texas Rangers, the reigning World Series champions from 2023, have also trimmed their payroll to $212.8 million, a decrease of $52 million.
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