A source familiar with their circumstances revealed that the New York Yankees have ceased adding high-priced free agents.
This leaves sought-after athletes such as Pete Alonso and Alex Bregman among the 164 free agents remaining in the market, with only 37 days left until pitchers and catchers report to spring training facilities in Florida and Arizona on February 14.
Teams like the New York Mets, San Francisco Giants, Toronto Blue Jays, and Boston Red Sox continue their pursuits.
However, the Yankees have concluded their acquisitions. They completed all their signings and trades following the departure of Juan Soto, who secured a 15-year, $765 million contract with the Mets just prior to the Winter Meetings in Dallas in early December.
Afterward, they secured pitcher Max Fried for an eight-year deal worth $218 million and first baseman Paul Goldschmidt for one year valued at $12.5 million. They have also re-signed reliever Jonathan Loáisiga for one year at $5 million.
New York also completed a trade with the Chicago Cubs for outfielder Cody Bellinger—$25 million for this year, with a player option of $22.5 million for the following year—and acquired closer Devin Williams from the Milwaukee Brewers, who signed an $8.4 million contract for this year and will be a free agent next year. Furthermore, the Yankees exchanged backup catcher Jose Trevino with the Cincinnati Reds for reliever Fernando Cruz and another backup catcher, Alex Jackson.
“[Fried], Devin Williams, and Bellinger have been substantial additions,” Yankees general manager Brian Cashman recently stated. “Yet, there remains [lighter] work to accomplish.”
The Yankees are still aiming to recruit a mid-level left-handed reliever while looking to trade starter Marcus Stroman along with his $18.3 million contract, but that is the extent of their activity. Should Stroman pitch 140 innings this season, another $18.3 million will be guaranteed for next year.
This suggests that signing the highly regarded Japanese pitcher Roki Sasaki may be unlikely, as he is possibly headed for a West Coast team; the Giants, Los Angeles Dodgers, and San Diego Padres are reportedly among his potential destinations. Sasaki can join a Major League Baseball team anytime between January 15 and January 24 or he must return to the Chiba Lotte Marines, his original Nippon Professional Baseball team.
New York, which has $270.6 million allocated to 13 players for luxury tax-related calculations, ranks second in spending so far, trailing only Los Angeles at $336 million, although the Dodgers have already committed to 19 players. In terms of total expenditures considering their entire 40-man rosters, the Yankees were third behind the Dodgers, with the Mets placed between the two clubs.
The Yankees were defeated by the Dodgers in five games during the 2024 World Series, and in the frugal American League, they are the favorites to make another appearance. However, joining Soto in leaving the AL championship team are Anthony Rizzo, Gleyber Torres, Alex Verdugo, Clay Holmes, Tommy Kahnle, Jon Berti, Nestor Cortes, and Trevino.
American League teams are not investing as heavily as their National League counterparts this offseason; particularly, NL West franchises—excluding the Colorado Rockies, who have only spent $119.4 million thus far—are striving to match the Dodgers’ expenditures to stay competitive. Similarly, in the NL East, the Mets ($252 million), Philadelphia Phillies ($267 million), and Atlanta Braves ($185.7 million) are all increasing their spending.
In the AL East, both the Red Sox ($182.6 million) and Blue Jays ($163.1 million) maintain solid payrolls, yet have yet to make significant moves in the free agent market this offseason. The Baltimore Orioles ($102.9 million) and Tampa Bay Rays ($62.9 million) have not taken significant actions either. The Rays, due to storm damage to their home Tropicana Field, will play at the Yankees’ spring training facility, which has a capacity of 11,026, this season. They rank 28th in MLB for spending.
Even the Houston Astros, previously the Yankees’ most formidable recent adversary, have decreased their spending this season. They hold a ninth-highest payroll in MLB at $183.1 million, a significant decline from $264.8 million last season.
Conversely, the Texas Rangers, the reigning World Series champions of 2023, have reduced their payroll, now totaling $212.8 million, down from $52 million.
Image Source: Pete Alonso @ Instagram
