The New York Yankees are officially stepping back from their high-stakes shopping spree in the free-agent market. A source close to the team has confirmed that they’ve shifted their strategy, which leaves a hefty list of talent still up for grabs. Among the notable names without a home yet are players like Pete Alonso and Alex Bregman, part of a pool of 164 free agents. With pitchers and catchers set to report for spring training in just 37 days—on February 14—the pressure is mounting for teams still on the hunt for fresh talent.
While the Yankees appear to be hitting the brakes, several other teams like the New York Mets, San Francisco Giants, Toronto Blue Jays, and Boston Red Sox are still actively beefing up their rosters, eager to land more solid players. This is a critical point in the offseason for these franchises, as they aim to secure the pieces they’ll need for another competitive season.
The Yankees made significant moves prior to their current halt in spending, including the shocking departure of Juan Soto, who inked an astronomical 15-year deal with the Mets worth $765 million just as the Winter Meetings kicked off in Dallas last December. It’s a deal that sent waves through the league, and shortly thereafter, the Yankees made some noteworthy transactions of their own. They added ace pitcher Max Fried to their roster with an extravagant eight-year contract totaling $218 million, and they brought in first baseman Paul Goldschmidt for the upcoming season at $12.5 million. Additionally, fan-favorite reliever Jonathan Loáisiga was re-signed for one year at $5 million to help bolster the bullpen.
Among their recent acquisitions, they also welcomed outfielder Cody Bellinger from the Chicago Cubs for $25 million. Bellinger comes with a player option for $22.5 million for the following season, adding some intrigue to his potential future with the team. Similarly, they secured closer Devin Williams from the Milwaukee Brewers in an $8.4 million deal for this year, with Williams becoming a free agent in the upcoming season. The Yankees were also busy dealing, trading backup catcher Jose Trevino to the Reds in exchange for reliever Fernando Cruz and another backup catcher, Alex Jackson.
Yankees general manager Brian Cashman seemed satisfied with the moves made but hinted there’s still work to be done. “We’ve done some heavy lifting with [Fried], with Devin Williams, with Bellinger,” he noted. “But there’s more [light] lifting to do.”
Despite those ambitions, the Yankees are now turning their focus toward a mid-tier left-handed reliever. Interestingly, they’re also considering trading starter Marcus Stroman, who is currently on an $18.3 million contract. Should Stroman pitch 140 innings this year, his contract automatically renews for another $18.3 million. It’s a complex situation that could lead to significant changes in the lineup.
In what might be seen as a disappointing turn for fans, the Yankees’ plans likely preclude the signing of Japanese pitching sensation Roki Sasaki, who has caught the eyes of West Coast teams like the Giants, Dodgers, and Padres. Sasaki will have a short window between January 15 and January 24 to sign with a Major League team, or he will have to return to his original team in Japan, the Chiba Lotte Marines.
As it stands, the Yankees have dedicated a staggering $270.6 million to just 13 players for luxury tax purposes. This leaves them ranked second in overall spending behind the Los Angeles Dodgers, who have committed approximately $336 million to 19 players. Interestingly, the Yankees are currently third in projected payroll for the upcoming season, trailing the Mets in between them.
Last season, the Yankees fell short in their quest for a championship, losing to the Dodgers in five games in the World Series. As they stand poised as strong contenders in the cost-conscious American League, their roster still faces significant losses with the departures of key players like Anthony Rizzo, Gleyber Torres, and Clay Holmes.
This offseason has seen American League teams generally treading lightly in the spending department, particularly compared to their National League rivals. Some of the NL West teams, with the exception of the Colorado Rockies, are making a concerted effort to keep pace with the Dodgers’ spending spree. The Mets, Phillies, and Braves from the NL East are also making hefty investments as they aim to remain competitive.
On the other hand, within the AL East, teams like the Red Sox and Blue Jays are sitting on healthy payrolls but have yet to make impactful free-agent signings. Meanwhile, the Orioles and Rays have adopted a much quieter approach with their spending, with the Rays facing challenges that will have them training at the Yankees’ spring training facility this coming season due to storm damage back home.
Even the Houston Astros, who have battled fiercely with the Yankees for supremacy in recent years, have pulled back their spending, currently sitting at $183.1 million, a marked decline from last year’s $264.8 million figure. Similarly, the Texas Rangers, fresh from their 2023 World Series triumph, have also trimmed their payroll, now at $212.8 million, a decrease of $52 million.
It’s a tumultuous time in Major League Baseball, filled with anticipation and uncertainty, and as the spring training season fast approaches, all eyes will be on how the remaining pieces fall into place. Fans across the league are feeling that electric mix of hope and anxiety, wondering just what the future holds for their beloved teams.
